LOreal unveils Prime Beauty Tech Startup Competition across Asia & MENA
To spike the next age of excellence, L’Oréal has launched the Big Bang Beauty Tech Innovation Program in the South Asia Pacific, Center East and North Africa (SAPMENA) area, including India. The greatest open advancement rivalry of this scale for the beauty industry, it offers promising opportunity for start-ups to foster their development in a business pilot and possible exposure to 35 business sectors of the SAPMENA locale.
The significant competition underscores the co-creation and co-improvement of imaginative beauty innovation and marketing arrangements. New start-ups will address at least one of the five challenge themes including: Customer Experience, Content, Media, New Commerce and Tech for Good.
Through their investment, Start-ups will have the valuable chance to interface with business and advanced pioneers, including key accomplices and digital mentors who can give experiences to test new suggestions and potential to scale.
First kick-started in China in the year 2020, the thriving competition currently stretches out across Asia and MENA, taking advantage of the unique start up environment and huge buyer capability of these locales.
From a modest bunch of financial backers and organizations barely 10 years prior, these locales today have developed into a powerful centre with expanding bargain stream inside the worldwide start-up ecosystem.
Home to 40% of the total populace, the SAPMENA locale covers 35 business sectors including a considerable lot of the world’s fastest developing, most crowded & young business sectors.
Vismay Sharma, President of L'Oréal SAPMENA Zone, stated, "Asia and the Middle East are young, vibrant markets with a strong and dynamic startup ecosystem and opportunities for growth. Leveraging Beauty Tech, L'Oréal wants to uncover better and more novel ways of connecting with consumers and answering unmet needs through beauty innovations. We are on the lookout for unique solutions that leverage data and tech – we believe augmented tech, online platforms and digital services have great potential to elevate the consumer experience”.
Saloni Shah, Chief Digital & Marketing Officer, L'Oréal India stated, "India is home to successful start-ups that has resulted in an incredibly dynamic ecosystem. The vibrant energy, entrepreneurial spirit, and advanced digital landscape make it conducive for innovation across industries, especially in Beauty Tech. L'Oréal is committed to supporting this ecosystem, fostering collaboration, and seeking opportunities with innovative startups to shape the future of beauty."
