Can we participate if we don’t have office in China?
We have no requirements for the office locations of startups, but the technology of the startups must be able to land in China. Also, after the startups have won awards, they must be able to participate in and execute pilot projects or incubations in China.
Is this competition open to all startups, or is it only open to startups of a certain size or financing stage?
Startups of any size and stage are welcome to participate in the competition as long as they fit the needs.
Is this competition complete free, or it will charge?
There is no charge for this competition. If anyone charges you a fee, it must be a fraud.
Do we need to have application cases in the beauty industry and have molded products?
We are looking forward to leveraging the advanced technology across the industry to help the development of beauty tech. If your technology is mature and you have already thought and considered the value that the beauty industry can bring, L'Oreal is experienced to accelerate the transformation of cross-industry technology; if not, we can explore together based on the platform L'Oreal provide.
Do you have budget for POC projects.
Startups entering the POC stage will receive full support from us and a corresponding budget
Which departments and brands does the mentor plan of the final team have?
Our mentors will be from four major business units of L'Oreal, and the participating brands are very diverse. In addition, departments in L'Oreal, such as consumer insight team, digital team, IT, finance, will also assist the mentor program. Let ’s keep a suspense for the list of mentor brands. We hope everyone can continue to pay attention to the news release of our competition.
L'Oreal is a large international corporate, will it lack flexibility, and will the process of technology verification and transfer be particularly long?
In the FMCG indusry, the pace of the industry is pretty fast and agile, we believe in test & learn (quick test and learn to improve). This is what our existing partners have always said about us.
If a startup does not win the final award, will it still have cooperation opportunities with L’Oréal?
The Big Bang startup challenge provides opportunities for startups to establish cooperation with Loreal. With the communication channel built during the competition, Loreal will continue the dialogue with startups on innovative ideas after the event. In fact, even without winning the final award, several startups had opportunities to work on L’Oréal projects and become vendor of L’Oréal.