Meta launches a startup acceleration program in partnership with the French cosmetics giant L'Oreal dedicated to "creativity" in the metaverse.
HEC Paris, a leading business school, will also contribute to the program, which will be based in Station F, a startup hub in the French capital.
The program is open to startups working on Web3 projects, including augmented, virtual and mixed reality, avatars, and token economy. Eligible candidates must have a scalable business model and a certain level of maturity, including an early version of the product and paying clients.
Asmita Dubey, chief digital and marketing officer at L'Oreal, said that the candidates were also expected to share "our values of inclusivity, diversity, and sustainability."
"Creators are at the heart of the metaverse. This program aims to support and strengthen the ecosystem that will build it," Dubey said.
The applications are now open and will continue until November 20. The top 15 applications will be selected to face a jury of Meta and L'Oreal executives, the HEC Paris team, academics, entrepreneurs, and investors.
The candidates will participate in jury evaluation sessions, where they are expected to give presentations and answer questions. The jury will pick five startups to participate in a six-month program starting January next year.
Meta AI researchers and L'Oréal marketing and Web3 experts will mentor the participating startups. They will also have access to Meta Labs teams and devices, as well as a treasure trove of HEC Paris and Station F resources.
"We are proud to partner with L'Oreal through this ambitious project, which aims to support the French startup ecosystem that will play a key role in building a collective, creative, and inclusive metaverse," Laurent Solly, Meta vice president for Southern Europe, said.
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