Meta (formerly Facebook), L’Oréal, and the French business school HEC Paris collaborated to develop a startup accelerator to foster innovation in the metaverse.
The program will provide funding to at least five startups that use and specialize in emerging technologies, such as Virtual Reality (VR), Augmented Reality (AR), avatar creation, and any other technologies linked to Web3.
Startups can apply until November 20; following that, a jury composed of Meta, L’Oréal, and HEC members, as well as entrepreneurs and investors, will choose the startups in December at the Meta space within Station F in the 13th arrondissement of Paris.
Although there are still many naysayers, the metaverse and the features integrated within it are rapidly progressing, as are the companies and communities willing to embrace this new reality.
L’Oréal wishes to be a part of and support this embracement, as seen by its efforts thus far. In February, it filed 17 trademark applications to enter the metaverse with virtual cosmetics, makeup preparations, and other products. In May, NYX Professional Makeup, a L’Oréal subsidiary, launched its Pride 2022 campaign, “Paint Your Own Story,” and entered the metaverse with a first-of-its-kind virtual meta-pride parade.
