Cosmetics giant L’Oréal and Meta have announced a partnership, including Incubateur HEC Paris, which will see the launch of a startup acceleration program to drive creativity within emerging metaverse environments.
The six-month program will be based in Paris at the Station F startup hub and is aiming to recruit five French startup companies working on Web3 projects including virtual and mixed reality technologies, avatars, inclusivity and the token economy.
It will run from January to June next year and will offer access to Meta’s AI research and Reality Labs teams as well as experts and guidance from within L’Oréal. Innovations developed from participating will then be deployed within Meta and L’Oréal initiatives.
According to the application site, “Our goal is to help you build the present of metaverse, with the resources and exposure you need.”
Asmita Dubey, L’Oréal’s chief digital and marketing officer in a statement: “It brings a lot of young talents together. They’re the future. Imagine the massive creative energy that it generates.”
She added that the creativity developed could support the company’s international marketing and also be leveraged by its brands.
The two-stage process will see applicants pitch to executives from both companies as well as HEC Paris professors, entrepreneurs and investors.
“I’m proud of this partnership with L’Oréal Group—a company with an incredible 110-year history that continues to shape the future of beauty,” stated Angie Gifford, Meta’s vice president for EMEA. “Thanks to our partners at Station F, Incubator HEC Paris, and to the amazing Meta France team and Laurent Solly, VP for Southern Europe, who worked with L’Oréal to bring this to life,” she added in a Linkedin post announcing the project.
The cosmetics company began its exploration of Web3, at the end of last year when L’Oréal commissioned five artists to create NFTs promoting gender equality within the cryptocurrency space.
This was followed earlier this year when L’Oréal-owned brand NYX joined an experience being hosted by another metaverse platform The Sandbox for an activation that aimed to promote diversity and inclusivity. In February, the U.S. arm of L’Oréal registered 16 of its brand’s trademarks in the NFT and metaverse categories including skin care brand Kiehl’s, It Cosmetics and Maybelline.
In September, the business also promoted Camille Kroely to the role of chief metaverse and Web3 officer as it aimed to grow its focus on engagement through emerging virtual technologies.
