L’Oréal, Meta and French business school HEC Paris are uniting to launch a start-up acceleration program which will operate exclusively within the metaverse. At least five firms focusing on 3D creation, augmented reality (AR), virtual reality (VR), mixed reality, avatar creation, portability in user experience, token economy, or other Web3 and metaverse-related issues will be supported in this project.
Applications will be accepted until November 20. In December, a jury made up of representatives from Meta, L'Oréal, and HEC, in addition to businesspeople and investors, will choose the start-ups to be supported. The program will then run from January to June 2023, expanding each brand’s capabilities and projects.
“It brings a lot of young talents together. They’re the future. Imagine the massive creative energy that it generates,” said L’Oréal chief digital and marketing officer Asmita Dubey. “The benefit for us is that we can use that creativity for our DMI [international marketing direction] and brands. So, of course we will leverage that.”
Image Credit: L'Oréal
Why This Trend Is Growing
- Web3 Creation Start-ups
- The focus on 3D creation, augmented reality (AR), virtual reality (VR), mixed reality, and avatar creation presents an opportunity for disruptive innovations in the field of immersive technologies.
- Metaverse Start-up Accelerators
- The exclusive emphasis on the metaverse within this accelerator program presents an opportunity for disruptive innovations in the fields of virtual economies, portability in user experience, and token economics.
- Brand Partnership Start-ups
- Partnerships between established brands and start-ups present an opportunity for disruptive innovations in cross-sector collaboration and new solutions for established industry challenges.
Industries Being Reshaped
- Beauty and Cosmetics
- L'Oréal's involvement in this metaverse accelerator program presents an opportunity for disruptive innovations in the field of virtual beauty products and services.
- Education
- The involvement of HEC Paris in this metaverse start-up accelerator program presents an opportunity for disruptive innovations in immersive educational technologies.
- Gaming and Entertainment
- The emphasis on the metaverse and immersive technologies in this accelerator program presents an opportunity for disruptive innovations in the fields of gaming, entertainment, and virtual experiences.
