L'Oréal Canada launches open innovation program

By

Jennifer Braun

Published
Apr 12, 2019

L'Oréal Canada wants to revolutionize the beauty industry through technology and innovation, and is looking toward the startup ecosystem to do so.

The beauty giant announced on Thursday the launch of its first open innovation program, which will bring Montreal and Canadian entrepreneurs and L'Oréal Canada closer together through a 10-week industry-mentorship-driven accelerator program.

Launched in partnership with OSMO, a non-profit organization whose mission is to provide ecosystem development for local start-ups, the program will enable entrepreneurs to benefit from L'Oréal Canada's extensive resources, while L'Oréal Canada will benefit from the opportunity of working with technology entrepreneurs.

"Digital technology has radically transformed L'Oréal in the world and in Canada. New technologies, on the other hand, open up new horizons to beauty and a partnership like the one with OSMO, will contribute greatly to the achievement of our goal of being a pioneer, champion and leader of beauty tech," explained Frank Kollmar, CEO of L'Oréal Canada.

"This partnership with OSMO is part of L'Oréal Canada's digital strategy, one of whose goals is to always be on the lookout for and at the forefront of technological innovations,” added Robert Beredo, CDO of L'Oréal Canada.

Canadian entrepreneurs are encouraged to apply before May 10, 2019. The program is expected to launch July 2, 2019.