L'Oréal announces top India disruptors from its beauty tech startup competition across Asia and MENA

To spur the next era of beauty, in May 2024, L'Oréal launched the Big Bang Beauty Tech Innovation Program in the South Asia Pacific, Middle East and North Africa (SAPMENA) region, including India. Following the India regional semifinal round this month, four innovative Indian startups have now qualified for the Grand Finale to be held in October in Singapore. The Big Bang Beauty Tech Innovation Program is the biggest open innovation competition of this geographical scale; and offers promising startups the opportunity to work with L'Oréal in a commercial pilot within the SAPMENA region.

The top disruptors from India are:

Rezo.ai - Transforms contact centers with AI-powered automation and analytics, boosting efficiency and agent performance. With real-time data insights, it enables enterprises to personalize customer interactions in real time and already handles 2.5 million calls daily.
NeuralGarage - Uses Generative AI to solve the age-old problem of awkward dubbing in entertainment. Their technology seamlessly syncs actors' lip movements with dubbed audio, creating a natural viewing experience that preserves the cinematic feel of the original content.
Live2.ai - A SaaS platform offering interactive video solutions, focusing on shoppable video technology for Connected TV (CTV) and brands' websites and apps. It enables businesses to create engaging videos where viewers can make purchases directly within the video content.
FluxGen Sustainable Technologies - Helps businesses take control of their water footprint with AI and IoT. Their end-to-end water management system uses Gen AI-powered analytics and predictive alerts to identify inefficiencies, automate monitoring, and detect leakages and wastage in their water network – reducing water consumption by up to 30% and aiding towards becoming water-positive.

Each participating team presented innovative beauty technology and marketing solutions addressing one or more of the five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good. Through their participation, startups had the opportunity to connect with commercial and digital leaders, including strategic partners and mentors who offered insights to test new ideas and potential to scale.

Shri Sanjiv Singh, Joint Secretary, Startups, ONDC, Ministry of Commerce and Industry, India: "I am incredibly excited to see Indian startups embracing the opportunity to redefine the future of beauty through the L'Oréal Big Bang Beauty Tech Innovation Program. Their innovative spirit and dedication to pushing technological boundaries are truly inspiring. This spirit of innovation is something the Government of India and DPIIT are deeply committed to nurturing through initiatives like Startup India. We are committed to providing these visionary entrepreneurs with the resources and support they need to succeed on a global stage. I commend L'Oréal for creating this platform that empowers and celebrates the ingenuity of startups. To all the participating teams, your passion and drive are truly remarkable. I am confident that you will make India proud in Singapore and, through your achievements, contribute significantly to our nation's long-term growth. I extend my best wishes to all the finalists and look forward to witnessing their continued success."

Saloni Shah, Chief Digital and Marketing Officer, L'Oréal India: "India's dynamic and rapidly evolving digital landscape has been a fertile ground for groundbreaking innovations in beauty tech. The India semi-final round of the Big Bang Beauty Tech Innovation Program was an inspiring experience, with each of the participating startups displaying exceptional creativity. We are thrilled to support these visionary startups and look forward to seeing their impact on the global stage."

Home to 40% of the world's population, the SAPMENA region covers 35 markets, including many of the world's fastest growing, most populous and young markets. Its consumers are young digital natives, having an average age of 28 years (compared to the global average of 33 years) and with more than 60% purchasing online every week. Innovative e-commerce and social commerce business models and technologies are needed to reach and engage these consumers, who are leading the beauty acceleration with diverse beauty ideals and a dynamic digital culture of on-demand, always-connected and hyper social. Across Southeast Asia, India and the Middle East, the combined startup ecosystem includes over 40,000 startups, with more than 180 unicorns (startups valued at $1 billion+) and a deal flow that reached $20 billion last year.

www.loreal.com

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