L’Oréal announced in May a strategic investment in Founders Factory, a London-based leading global digital accelerator and incubator, co-founded by Brent Hoberman and Henry Lane Fox. As part of their partnership, L’Oréal and Founders Factory will each year support the growth of five high potential early stage startups and co-create two new businesses as part of a yearly incubator programme.
L’Oréal and Founders Factory received 180 applications from talented and motivated beauty entrepreneurs around the world (Germany, Lithuania, Slovenia, United Kingdom, United States, among others). After an exciting pitching session held at L’Oréal headquarters, 5 startups were selected for a six month accelerator programme:
- InsitU: Personalised, natural skincare available online.
- Preemadonna: A device and app enabling users to design and print art onto their nails, using their phone, in a matter of seconds. 30,000 people have already signed up to try the Nailbot.
- Tailify: London based Tailify founded by Fredrik Segerby from Sweden and Didrik Svendsen from Norway, connects big brands to social media influencers to create campaigns, whilst enabling those influencers to track, distribute and monetise their content.
- Veleza: An app-based, supportive community of beauty lovers that helps users discover products that best match their needs providing inspiration, advice and product reviews in real time.
- Cosmose. A company which uses sophisticated location technology that allows retailers to target offline customers via online channels. Already a success in Asia, Cosmose is based in Shanghai and Hong Kong.
L’Oréal and Founders Factory will support the growth of these startups in many ways: the in-house team of 60 digital experts at Founders Factory, many of whom being successful entrepreneurs themselves, will provide hands-on and operational support and mentoring. L’Oréal will bring its century-old beauty passion and expertise, access to marketing teams, R&I and ecosystem.