Cosmetics brand to launch beauty tech startup competition
Filipino entrepreneurs and innovators looking to enter the beauty industry now have an opportunity to get some financial help in doing so as a known cosmetics brand holds a startup competition.
French cosmetics giant L'Oréal is opening up its Big Bang Beauty Tech Innovation Program to the South Asia Pacific, Middle East, and North Africa (SAPMENA) region, which includes the Philippines. First launched in China in 2020, the program calls on applicants to come up with innovative beauty technology and marketing solutions.
Photo source: L'Orèal
Applicants are asked to address one or more of five challenge themes, namely Consumer Experience, Content, Media, New Commerce, and Tech for Good. Participants are given access to commercial and digital leaders who act as partners and mentors to help them test new ideas and their potential to scale.
Interested applicants need to submit their applications on the competition website by July 13, with the Southeast Asia semi-final happening on September 30, 2024. An in-person grand finale will be held in Singapore on October 23, 2024.
The top three SAPMENA grand finale winners will win a L'Oréal-funded commercial pilot opportunity and a year-long mentorship program with senior executives from L'Oréal and the program partners including Accenture, Google, and Meta.
The cosmetics and makeup industry is definitely a lucrative industry, with a lot of the country's celebrities launching their own makeup lines. Last year, Kapuso star Gabbi Garcia launched her own beauty brand, Five Beauty. Gabbi co-founded the company alongside Veronica Eala and Isabel Regino.
It's Showtime host Vice Ganda also has Vice Cosmetics, where she is the chief creative officer.
Check out other celebrities with their makeup lines or beauty brands in the gallery below.
