L’Oréal launches metaverse-focused accelerator programme with Meta

Beauty giant L’Oréal has announced the launch of a start-up scheme with social media group Meta, formerly Facebook, which will focus on the development of an “inclusive” metaverse ecosystem.

The acceleration programme, specifically established by L’Oréal Groupe in France, aims to empower and support start-ups that are looking to build an inclusive and creative metaverse and Web3 space.

Five entrepreneurial start-ups will be accepted into the programme, which is set to run from January to June 2023.

A jury of experts from both Meta and L’Oréal will select participants that apply until the closing date, November 20, 2022.

The programme will include interactions and conferences at its Paris-based location, Station F, where participants will have access to various resources and dedicated workshops.

Those looking to apply can submit projects from the likes of 3D production to augmented reality (AR) or virtual reality (VR) technologies, as well as token economy, avatar creation and other related topics.

"Creators are at the heart of the Metaverse,” said L’Oréal’s chief digital and marketing officer, Asmita Dubey, in a release. Dubey continued: “The programme aims to support and empower the ecosystem that will build it, and that can pave the way to go beyond storytelling – to a brand story living, in accordance with our values – to be inclusive, diverse, sustainable by design."