Does virtual reality and augmented reality intrigue you as a business idea? If so, Meta and L'Oréal have teamed up to create a startup acceleration program focusing on companies from diverse communities. Meta's drive to bring its Metaverse to the business sector has expanded to include this partnership with French businesses. Meta is partnering with the cosmetic company L'Oréal to bring startups interested in virtual reality to the Station F location in Paris. The incubator HEC Paris is involved in the project, serving as a guide for early-stage startups and helping to make the Metaverse inclusive and diverse.
What Are the Benefits for Your Company?
Multiple awards are available for startups participating in this tech accelerator program. Meta and L'Oréal state that they are not looking to take any equity in return for participation in the program. The goal is to assist in developing Meta's online universe.
Are You Eligible?
Eligibility requirements include:
- Startups with an interest in moving away from traditional 2D online platforms
- Early-stage startups that have reached acceleration or scaling stages
- Willingness to be based in Paris for six months
- Employment of a culturally diverse team
How Does the Program Help?
The program is designed to support startups and studios in creating a diverse Metaverse.
Eligibility: Startups vs. Studios
Eligibility is divided between early-stage startups and studios. The requirements for startups include:
- More than $100,000 in annual revenue
- Founders with a track record of success
The requirements for studios include:
- More than $200,000 in annual revenue
- Employment of at least three people
- Completion of five productions
Both studios and startups must have:
- Begun working on twins, avatars, and portability
- Started developing tokens and content for creators and users
- A history of inclusivity and sustainability
The Benefits of Joining the Program
Joining a tech accelerator program is a significant step for any startup or studio. By participating in the program offered by Meta, L'Oréal, and HEC Paris, your company will receive six months of assistance at the Station F campus. Acceptance into the six-month program provides access to the world's largest startup campus. An investor community will be available to discuss the potential for success of each startup and studio. Members of the accelerator will participate in workshops and interact with the Station F community.
Applying for the Program
The application process for the program ends on 11/20/2022. Applications should be submitted through the online platform of HEC Paris. After the initial jury selection, successful applicants will make a detailed presentation to the jury. This presentation includes an eight-minute video followed by a question-and-answer session. The jury will then provide detailed feedback.
The Grand Jury will decide which startups and studios will join the program on 12/12/2022. This will be followed by a period of onboarding before the program begins on 01/03/2023.
Meta is investing heavily in research and development for its Metaverse. Partnering with experts from HEC Paris, L'Oréal, and the Station F community increases the chances of online success across various platforms. The application process can be viewed here. Ensuring inclusivity and diversity is vital to creating a representative community across the platform being developed by Meta and its partners.
