L’Oréal Big Bang Beauty Tech Innovation Program driving the next generation of beauty tech through collaboration and open innovation

SINGAPORE, Oct. 24, 2024 /PRNewswire/ — Three startups from Singapore and India have emerged as winners of the L’Oréal Big Bang Beauty Tech Innovation Program for the South Asia Pacific, Middle East & North Africa (SAPMENA) region, the biggest Beauty Tech open innovation competition of this geographical scale.

The three teams – Creatively Squared (Singapore), Live2.ai (India), and NeuralGarage (India) – have won the opportunity to work with L’Oréal in a commercial pilot with one of the Group’s 37 international brands, tap into potential exposure in 35 markets across the SAPMENA region, and embark on a year-long mentorship program with senior executives from L’Oréal and the program partners.  

Vismay Sharma, President of L’Oréal SAPMENA Zone, said, “We believe the South Asia Pacific, Middle East & North Africa region has the potential to become a hotbed for Beauty Tech Innovation that will shape the future of beauty.  This region has a very dynamic startup ecosystem and some of the most tech-savvy consumers in the world, which presents tremendous opportunities for game-changing innovations that elevate the consumer beauty experience. In this inaugural edition of the Big Bang Beauty Tech Innovation Program, we’ve already seen some incredibly promising ideas and look forward to partnering with our three winning tech startups to nurture their innovation for the beauty world. By collaborating with strong partners, we aim to accelerate the pace and significance of our beauty tech innovations for the consumers of SAPMENA.”  

The three winning startups of the 2024 L’Oréal SAPMENA Big Bang Beauty Tech Innovation Program are:

Creatively Squared (Singapore): Creatively Squared is a visual content production platform that enables brands to efficiently produce original digital photos and videos that are on-brand, high quality and effective.Live2.ai (India): Live2.ai is a SaaS platform offering interactive video solutions, focusing on shoppable video technology for Connected TV (CTV) and brands’ websites and apps. It enables businesses to create engaging videos where viewers can make purchases directly within the video content.NeuralGarage (India): NeuralGarage uses Generative AI to solve the problem of awkward dubbing in entertainment, with technology that syncs actors’ lip movements with dubbed audio to create a natural viewing experience that preserves the cinematic feel of the original content.

Launched in May 2024, the inaugural L’Oréal SAPMENA Big Bang Beauty Tech Innovation Program attracted hundreds of startups from across the SAPMENA region, including teams from Singapore. These innovators participated in a highly competitive five-month competition, culminating in the Grand Finale on 23 October in Singapore.

Offering innovative solutions to key challenges with the beauty industry, these startups addressed one or more of five challenge themes: Consumer Experience, Content, Media, New Commerce, and Tech for Good. Through their participation, startups had the opportunity to connect with commercial and digital leaders, including strategic partners and mentors who offered insights to test new ideas and potential to scale. The judging panel comprised of senior executives from L’Oréal, Accenture, Google, Meta and Veros Ventures.

Ng Wee Wei, Senior Managing Director and Southeast Asia Market Unit Lead of Accenture, said, “We’re incredibly proud and excited about our partnership with L’Oréal and the wider ecosystem to drive innovation, elevate consumer experiences, and redefine the standards of the beauty industry. Witnessing participants push the boundaries with bold, creative solutions that seamlessly merge human ingenuity with cutting-edge technology was truly inspiring, setting the stage for the future of beauty tech. Congratulations to L’Oréal, all the participants, and the winners for their exceptional efforts and contributions.”

L’Oréal is dedicated to fostering a culture of innovation. Fast Company recently named L’Oréal in its Top 50 2024 Best Workplaces for Innovators list and winner of the Beauty and Fashion category, in recognition of its commitment to encourage and develop innovation at all levels.

About the Big Bang Beauty Tech Innovation Program in SAPMENA

The Big Bang Beauty Tech Innovation Program is a regional open innovation competition that seeks to discover, support and nurture promising startups from across the South Asia Pacific, Middle East and North Africa region. These startups will be given the opportunity to further innovate their solutions in Beauty Tech for one of five challenge themes: Consumer Experience, Content, Media, New Commerce and Tech for Good.

The three regional semi-finals for the GCC, India and Southeast Asia culminate in an in-person SAPMENA Grand Finale. Judges comprise senior executives from L’Oréal and the program partners including Accenture, Google and Meta.

The top three SAPMENA Grand Finale winners win a L’Oréal-funded commercial pilot opportunity and a year-long mentorship program with senior executives from L’Oréal and the program partners. Startups who prove successful pilots in SAPMENA could have the opportunity to work with L’Oréal globally. With L’Oréal SAPMENA as a launchpad, startups could tap into an extensive network of partners and market insights.

Home to 40% of the world’s population, the SAPMENA region covers 35 markets including many of the world’s fastest growing, most populous and young markets. Its consumers are young digital natives, having an average age of 28 years (compared to the global average of 33 years) and with more than 60% purchasing online every week. Innovative e-commerce and social commerce business models and technologies are needed to reach and engage these consumers, who are leading the beauty acceleration with diverse beauty ideals and a dynamic digital culture of on-demand, always-connected and hyper social. Across Southeast Asia, India and the Middle East, the combined startup ecosystem includes over 40,000 startups, with more than 180 unicorns (startups valued US$1 billion+) and a deal flow that reached US$20 billion last year.

For more information, visit http://bigbang.lorealsapmena.com/.

About L’Oréal South Asia Pacific, Middle East, and North Africa (SAPMENA) Zone

Home to 3 billion people and 40% of the world’s population, the South Asia Pacific, Middle East & North Africa (SAPMENA) Zone is a major growth engine for L’Oréal and a global talent hub. The SAPMENA Zone was formed in 2021 to drive focus on consumer needs and growth in many of the world’s most populous, young and fast-growing economies. Across 13 entities and 35 markets spanning New Zealand to Morocco, the L’Oréal SAPMENA Zone is reinventing beauty experiences for our consumers through a portfolio of over 30 international brands and game-changing Beauty Tech innovations. Our business model is built on responsible and sustainable growth, with commitments which focus on three key areas – the planet, the people and our products.

About L’Oréal

For 115 years, L’Oréal, the world’s leading beauty player, has devoted itself to fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future program, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centres across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

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SOURCE L’Oréal

SHANGHAI, Oct. 23, 2024 /PRNewswire/ — Pylontech (688063:SHH) has been officially recognized as a Tier 1 Global Energy Storage Manufacturer by BloombergNEF, solidifying its position as a top player in the global energy storage industry.

Developed by BNEF, an authoritative and strategic research organizations , the BloombergNEF (BNEF) Energy Storage Tier 1 list is a highly respected benchmark with strict and thorough selection process. This  list  provides a transparent distinction between hundreds of manufacturers, highlighting companies that enjoys global reputation for excellence. One of the key criteria for inclusion is the delivery of high-quality products in larger scale projects. 

Pylontech’s inclusion in this prestigious Tier 1 list underscores its leading position in global energy storage market. Since its founding in 2009, Pylontech has expanded its capabilities from residential energy storage into larger scale projects, becoming a global leader in the industry. To date, the company has delivered over one million energy storage systems worldwide, supporting its continued growth and industry influence.

This achievement is grounded in Pylontech’s commitment to innovation and its extensive research and development efforts. With technological and manufacturing capabilities including battery cells, BMS, EMS, and complete system integration, Pylontech has deployed high-quality and reliable energy solutions in a variety of scenarios, ranging from residential to commercial and industrial (C&I) applications, as well as utility-scale projects. These areas of expertise have allowed Pylontech to gain deep insights into energy storage technologies and the market, enabling the company to create more value for both its customers and the wider energy industry.

In the last two years, Pylontech has expanded its global footprint. Through strategic partnerships and the establishment of direct operations in markets such as the Netherlands, Germany, Italy, and the USA, the company has enhanced its ability to provide efficient and accessible services to its customers worldwide.

“With our vision ‘to Energize Billions with Smarter Power,’ Pylontech remains dedicated to advancing energy storage technology and delivering innovative solutions for customers across the globe,” said Geoffrey Song, Vice President of Pylontech. “We hope to work with industry partners to contribute to a more sustainable future.”

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SOURCE Pylontech

MELBOURNE, Australia, Oct. 24, 2024 /PRNewswire/ — Sungrow, a global leading PV inverter and energy storage system provider, proudly reinforced its long-term strategic partnerships with leading renewable energy distributors Raystech Group, Solar Juice, and Supply Partners during a signing ceremony at the 2024 All-Energy Australia exhibition. These partner signing ceremonies mark a significant milestone in Sungrow’s ongoing commitment to advancing renewable energy solutions in Australia.

Three Key Partners Sign Expanded Distribution Agreements

The Agreement with Prominent Wholesale Distributor in Australia and New Zealand——Raystech Group

Expanding its reach in the renewable sector, Sungrow has entered a new distribution agreement with Raystech Group, a leading renewable wholesale distributor based in Brisbane. Under this deal, Raystech will deliver 800 MW of Sungrow’s PV inverters, 150 MWh of residential BESS, and 350 MWh of C&I BESS across Australia and New Zealand. The collaboration with Raystech will significantly enhance Sungrow’s penetration into diverse market segments, allowing both to deliver our advanced PV inverters and energy storage solutions to a broader customer base in both Australia and New Zealand.

The Agreement with Leading Renewable Energy Distributor in Australia——Solar Juice

Sungrow and Solar Juice have renewed their durable partnership with a new distribution agreement, set to elevate Australia’s renewable energy landscape significantly. The agreement sees Solar Juice distribute 500 MW of Sungrow’s PV inverters, 200 MWh of residential battery energy storage systems (BESS), and 100 MWh of commercial and industrial (C&I) BESS in the Australian market. This partnership builds upon years of successful collaboration, ensuring that Australian clients continue to benefit from world-class solar technology and energy storage solutions.

The Agreement with Long-Standing Partner in Australia’s Renewable Energy Sector——Supply Partners

Building on a strong relationship established in 2012, Sungrow and Supply Partners have extended their cooperation to serve the Australian market further. The new agreement includes the supply of 200 MW of PV inverters and 100 MWh of residential BESS for 2024. Supply Partners will focus on direct distribution across residential, commercial, and battery divisions, while also expanding into the C&I energy storage and EV charging sectors. This enduring partnership highlights a mutual commitment to providing reliable and sustainable energy solutions for Australia’s evolving energy needs.

A Shared Vision for Innovation and Sustainability

“These strategic partnerships are founded on a shared vision and mutual commitment to deliver innovative energy storage systems, advanced inverters, and comprehensive solar solutions, providing the Australian solar market with seamless access to next-generation technologies,” said Joe Zhou, Vice President of Sungrow APAC. “Working alongside our partners, we’re committed to fast-tracking Australia’s transition to a sustainable energy future, building a foundation for a greener economy and a cleaner environment.”

Sungrow’s partnerships with Raystech, Solar Juice, and Supply Partners exemplify their dedication to fostering collaborative efforts that drive innovation and sustainability in the renewable energy sector. Through these alliances, Sungrow aims to support Australia’s goal of achieving a greener and more sustainable future.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com.

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SOURCE Sungrow