Digital startup incubator Founders Factor has received an investment from L'Oreal as a way to secure the brand's stake in locating beauty tech startups around the world.
The collaboration comes as a way for L'Oreal -- the world's most powerful cosmetic company -- to help source new innovations and help grow new ideas. The collaboration will see funding for five early stage startups as well as the creation of two new companies each year from scratch.
Multinational corporations are more capable than ever of maintaining a cohesive brand thanks to the Internet, but this can still leave gray areas left unexplored. The investment in the Founders Factor digital startup incubator from L'Oreal helps connect the startup market more closely to the corporate market.