French industry cluster Cosmetic Valley has launched Beauty Hub, the first French accelerator dedicated to innovation in fragrance and cosmetics.
Representing an investment of €1.5m over four years, Beauty Hub was created to innovate for the future, support start-ups and boost France’s position in the makeup sector, said Cosmetic Valley president Marc-Antoine Jamet at the inauguration of the initiative. While France is historically the leader when it comes to the number of makeup brands, Italy accounts for the lion’s share of global makeup production.
Beauty Hub aims to encourage collaborative innovation by involving players across the value chain, from production equipment and raw materials to packaging and finished goods. Located in Chartres, it includes a laboratory, as well as access to rapid prototyping technology thanks to two 3D printers.
Through the accelerator program, Beauty Hub will welcome between five and 10 start-ups twice a year, with each benefiting from a six-month program that includes mentoring and thematic workshops. At the end of the program, the companies can apply for funding from a committee made up of public and private players. Some five start-ups joined Beauty Hub this September:
• Abomey Labs, an “eco-luxury” and natural cosmetics brand that uses raw material and botanical waste to create new packaging;
• CocoriCosmetic, an online beauty and personal care boutique that stocks natural and organic products made in France;
• InFLOWS, specialized in software that uses the latest digital and AI technology to reinvent cosmetic formulation methods and techniques;
• Oden, a cosmetics brand whose formulas are made of plant-based ingredients from France;
• QUIID, creator of the In Silico intelligent platform for the development of “safe and innovative” cosmetics.
The next call for candidates is this October, to join the Beauty Hub in February 2021. A consortium of nine companies are supporting Beauty Hub as partners and have committed to pooling their resources and expertise: Yves Rocher, Chanel Parfums Beauté, L’Oréal, LVMH Recherche, Nippon Shikizai, MS Beautilab, Aircos, Aptar and I3DP.
Beauty Hub is also inking partnerships with international accelerators and incubators, including in Japan.
Beauty Hub is the first part of Cosmetic Valley’s International House of Cosmetics (Maison international de la Cosmétique), which is set for completion in 2023 and will act as a showcase for the French cosmetics industry. In addition to the Beauty Hub, it will house various services dedicated to the development of companies in the sector, as well as an exhibition space open to the general public.