Tuesday, Jun 18 2024 | Time 11:20 Hrs(IST)
Business Economy

Watch out for Asia's largest beauty tech startup competition

New Delhi, May 23 (UNI) Beauty industry major, L’Oréal, has announced the launch of the Big Bang Beauty Tech Innovation Programme in the South Asia Pacific, Middle East, and North Africa (SAPMENA) region, including India.

Introduced on Thursday, the largest open innovation competition of its kind will offering opportunity to startups to develop their innovations through commercial pilots and gain exposure across 35 markets within the SAPMENA region.

The competition aims to discover, support, and nurture innovative startups from countries such as India, the United Arab Emirates, Saudi Arabia, Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam.

Participants will tackle one of five challenge themes: consumer experience, content, media, new commerce, and tech for good.

The regional competition will feature three online semi-finals for the GCC, India, and Southeast Asia, culminating in an in-person SAPMENA Grand Finale in Singapore on October 23.

Up to ten finalists will compete for the top prizes, with the top three winners receiving a L’Oréal-funded commercial pilot opportunity and a year-long mentorship programme from senior executives at L’Oréal and partners such as Accenture, Google, and Meta.

Vismay Sharma, President of L'Oréal SAPMENA Zone, said: “Asia and the Middle East are young, vibrant markets with a strong and dynamic startup ecosystem. Leveraging beauty technology, L’Oréal wants to uncover novel ways to connect with consumers and meet their needs through innovative beauty solutions.”

Saloni Shah, Chief Digital and Marketing Officer of L’Oréal India, added, “India’s dynamic startup ecosystem and advanced digital landscape make it ripe for innovation, particularly in beauty technology."

Key Dates:
Submission Deadline: July 13
India Online Semi-Final: September 11
Southeast Asia Online Semi-Final: September 30
SAPMENA Grand Finale in Singapore: October 23

For more information and to submit applications, startups can visit the official competition website.

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