L’Oréal has announced it has partnered with Hello Tomorrow, an international non-profit that supports the discovery and development of science-based start-ups.
The cosmetics industry giant will play a key role in the organisation’s Hello Tomorrow Challenge 2016 and will present the award of €15,000 to the winner of the beauty and well-being track.
Start-ups can either apply directly or be nominated for the competition. Other tracks include: healthcare, data, water and waste, energy and aeronautics, among others.
L’Oréal’s role in the process will include providing experts to evaluate the projects submitted by the start-ups. It will also lend scientific expertise to “high potential” start-ups to ensure they receive the support needed to accelerate their product development.
Jacques Leclaire, Scientific Director of the L’Oréal Group, said: “Start-ups looking for technological challenges will find avenues in the field of beauty and well-being to express their creativity and mastery of big data, biotechs and the microbiome, leading-edge imaging, cognitive sciences or machine learning. These solutions, possible way off-field, will change the face of the beauty industry.”
An international jury will select and announce the winners at the Global Summit in October. The grand prize winner will receive €100,000. The closing date for applications is 17 June.