To support the upcoming wave of breakthroughs in beauty, L’Oréal has launched the Big Bang Beauty Tech Innovation Program throughout the South Asia Pacific, Middle East, North Africa (SAPMENA) area and India. Starting on May 23, 2024, the broad open innovation project in the beauty industry gives innovators a chance to test ideas in commercial pilot programs and gain access to markets in 35 nations in the SAPMENA region. Successful companies can take advantage of L’Oréal SAPMENA and the company’s wide partner network and market expertise.
The Big Bang Beauty Tech Innovation Program seeks to identify, foster and assist emerging entrepreneurs from Saudi Arabia, the United Arab Emirates, India and other countries in the SAPMENA region. Startups will be able to work on Beauty Tech innovation pilots under the following five challenge themes: Tech for Good, Consumer Experience, Content, Media and New Commerce.
There will be an in-person SAPMENA Grand Finale following three regional online semi-finals for the GCC, India and Southeast Asia. On October 23, 2024, in Singapore, up to 10 finalists from throughout SAPMENA will square off for top honors. A year-long mentorship program and a commercial pilot opportunity financed by L’Oréal will be awarded to the top three winners by a panel of judges made up of senior executives from the company and program partners.
Startups that prioritize co-creation and co-development will address issues in innovative beauty technologies and marketing strategies. It will establish connections with mentors, strategic partners, and leaders in the commercial and digital spheres to test concepts and look at prospects for scaling.
With a launch in China in 2020, the program has expanded throughout Asia and the Middle East and North Africa (MENA) to leverage the vibrant startup scene and enormous customer potential. The SAPMENA region, which is home to 180 unicorns and over 40,000 entrepreneurs, is a major hub for beauty tech innovation.
