Beauty Giant L’Oreal Announces Next Startups In It’s Beauty Tech Accelerator, In Partnership With Founder’s Factory
Beauty and makeup giant, L’Oreal, launched a beauty tech startup accelerator last year in partnership with Founder’s Factory. The partnership calls for a six month acceleration program that includes workshops, mentoring, introduction to influencers in the health and beauty sector as well as access to resources within the ecosystems of both Founder’s Factory and L’Oreal.
So far the partnership has been working. We met some of the L’Oreal accelerated startups in the health, beauty and baby section of CES in Las Vegas last January.
Major companies, like L’Oreal, are turning to startups to drive innovation. With augmented reality, artificial intelligence, virtual reality and mobile apps, the entire makeup game is changing. Nowadays people can turn to their smartphone, open up an app that uses their front facing camera, and virtually apply make up, using augmented reality to see what colors and shades look best on you.
L’Oreal announced earlier this month the latest startups selected for their accelerator;
Sampler: Founded by Marie Chevrier in 2013, is a platform designed to help hundreds of brands manage and measure their various product sampling campaigns and strategies through a more effective and targeted approach.
Riviter is another startup using artificial intelligence and augmented reality in innovative ways. Their technology is designed to recognize products in images and in the real world and match them to products online. It goes beyond that and is able to match precise locations and detailed attributes of the products. The US based company was founded by, Andi Hadisutjipto, Kris Woodbeck and Rachel Chen.
Alegra: is a Turkish startup founded by Alp OCal. They help brands build their digital online platforms for content and e-commerce, simultaneously on multiple devices.
“Merging the innovation capacities of L’Oréal with those of beauty tech startups creates a powerful synergy which helps to address the aspirations of our consumers and to build a new generation of personalised and smart digital services. In this “test&learn” approach, we are supporting the development and growth of promising young entrepreneurs by sharing our expertise and network, and in the meantime we invite them to bring new ideas to the digital projects of our brands. Open innovation is a win-win strategy that fosters disruptive thinking and pushes forward our digital leadership in beauty.” Lubomira Rochet, Chief Digital Officer L’Oréal, said in a statement.