The L’Oréal Open Innovation was created by L’Oréal to establish a lasting connection between beauty and tech startups. In addition, they are looking to create the next generation of innovative beauty products, devices, and digital services. L’Oréal is the official sponsor of the beauty tech accelerator within Station F, which is the world’s biggest startup campus. The main vision is to drive open innovation in beauty and tech throughout L’Oréal globally.
L’Oréal has partnerships with not only STATION F but also Founders Factory, Raise Ventures, and Partech International Ventures to help innovative beauty startups with investment and office space. In addition, L’Oréal signed a partnership with Partech Africa to create BOLD (Business Opportunities for L’Oréal Development) which is an investment fund for startups with high growth potential. Therefore, this is a win-win collaboration that lets beauty startups benefit from L’Oréal’s knowledge in the field of beauty, and allows them to invest in disruptive innovations.