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L'Oréal Launches Big Bang Beauty Tech Innovation Program in SAPMENA Region
Innovation is the heartbeat of L'Oréal’s business. In a bold move to shape the future of personalized beauty, L'Oréal is launching the Big Bang Beauty Tech Innovation Program in the South Asia Pacific, Middle East, and North Africa (SAPMENA) region for the first time. This initiative aims to discover, support, and nurture promising startups within this dynamic and rapidly growing ecosystem.
This region is a burgeoning hub for startups, boasting over 40,000 startups and more than 180 unicorns as of 2023. L'Oréal is eager to engage with this vibrant community to to discover the next generation of beauty disruptors.
Vismay Sharma, President of L’Oréal SAPMENA, said “Our investment footprint speaks to the weight we place on innovation. At L'Oréal, we fuel innovation with a €1.2 billion annual investment in science and technology. Our global network of research centres, 4000+ scientists of 84 nationalities and 800 advanced research experts constantly explore new frontiers, resulting in 610 patents filed in 2023 alone.
Yet we recognise that innovation doesn’t happen in a vacuum. We actively invest and support groundbreaking startups like U.S.-based biotech firm Debut, that are revolutionising manufacturing through synthetic biology. We've invested in Shinehigh Innovation, a Chinese startup pioneering sustainable ingredient combinations through supramolecular chemistry. Our investments highlight our commitment to nurturing innovation both within and outside L'Oréal's walls. We believe that collective partnerships accelerate innovation, which is why we are inviting startups in this region to be part of the Big Bang Beauty Tech Innovation Program along five challenge themes: ConsumerExperience, Content, Media, NewCommerce, TechForGood”
Selected startups will benefit from a L'Oréal-funded commercial pilot opportunity and a year-long mentorship program led by senior executives from L'Oréal and its partner, Accenture.
Startups in the SAPMENA region are encouraged to join the Big Bang Beauty Tech Innovation Program and become part of the revolution in beauty technology. Learn more about Bang Beauty Tech Innovation Program at https://lnkd.in/gSijbR6V
SOURCE: L'Oreal
