The program will run over the next year and seeks to support startups that specialize in building products related to metaspace.
Details of the Startup Program
Cosmetics giants L’Oréal and Meta have established a partnership with HEC Paris Business School. This partnership has led to the launch of a startup gas pedal program to promote creativity in the emerging meta-space environment. The six-month program aims to recruit at least five startups working on Web3 projects. These projects include 3D production, augmented reality (AR), virtual reality (VR), avatar creation, mixed reality technologies, token economy and other related topics.
The program will take place at the Station F startup center in Paris. Applications for the startup program are open from now until November 20th. The program will take place between January and June 2023 and will offer access to Meta’s AI research and Reality Lab teams. Participating companies will also gain access to investors, industry experts and mentors during the program. In addition, innovations developed from participating startups will be deployed in Meta and L’Oréal’s programs.
L’Oréal’s Past Exploits in the Metaverse
The cosmetics company began its exploration of Web 3 at the end of last year. They commissioned five artists to create NFTs to promote gender equality within the cryptocurrency space. French beauty giant L’Oréal filed a Web 3 trademark application on behalf of its 17 subsidiaries in February. Following this event, L’Oréal’s brand YSL Beauty launched a token-gated webpage in June.
L’Oréal recently promoted Camille Kroely to chief metaspace and Web3 officer to develop the company’s focus on engagement through emerging virtual technologies. This isn’t the first time L’Oréal and Meta have worked together. Last year they announced a platform integration using L’Oréal-owned AR beauty company Modiface. which is powering Instagram’s makeup trials.
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