Ministry of SMEs and Startups Launches Beauty Tech Development with L'Or?al Group

Beauty Tech Device Startup
Supporting Challenges in the Global Market

The Ministry of SMEs and Startups (Minister Lee Young) and the L'Or?al Group announced on the 3rd that they are recruiting small and medium-sized enterprises and startups to support the beauty tech sector. The Ministry of SMEs and Startups and the L'Or?al Group will focus on helping promising domestic companies with digital-based beauty tech technologies that have global scalability to enter the global market.

This recruitment is being promoted ahead of the designation of the 'Global Innovation Special Zone' by introducing L'Or?al Group's startup nurturing project, the 'Big Bang Program,' to ensure early achievements in technological innovation through international cooperation. Once the Global Innovation Special Zone is fully established, the scale and scope of support, including international joint research and development (R&D), will be gradually expanded.

The call for proposals focuses on personalized-based ▲ UV protection ▲ mixed reality (MR)-based skin care devices ▲ skin improvement drug delivery ▲ models for understanding skin-related mechanisms and performance.

Selected companies will be offered opportunities for pilot testing in Seoul and Paris and joint projects for global market entry. They can also receive policy funds from the Small and Medium Business Corporation and support from the Korea Startup Center (KSC) in Paris.

Lim Jeong-wook, Director of the Startup Venture Innovation Office at the Ministry of SMEs and Startups, said, "We will continue to strengthen cooperation with world-class overseas clusters and global companies," adding, "Based on this, we will strive to make the Global Innovation Special Zone a world-class innovation cluster."

This content was produced with the assistance of AI translation services.