Does virtual reality and augmented reality intrigue you as a business idea? if it does, Meta and L’Oreal have come together to create a startup acceleration program focusing on companies from diverse communities. Meta’s drive to bring its Metaverse to the business sector has been growing to include this partnership with French businesses.
Meta is partnering with the cosmetic company, L’Oreal to bring startups with an interest in virtual reality to the Station F location in Paris. The incubator, HEC Paris is involved in the project as a guide for early-stage startups helping to make the Metaverse inclusive and diverse.
What is the Benefit for Your Company?
Multiple awards are available for startups to take advantage of this tech accelerator program. Meta and L’Oreal state they are not looking to take any equity in return for participation in the accelerator program. The program aims to assist in developing the online universe by Meta.
Are you Eligible?
Eligibility requirements include:
- Startups with an interest in stepping away from traditional 2D online platforms
- Early-stage startups need to have reached acceleration or scaling
- Willing to be based in Paris for six months
- Employ a culturally diverse team
How Does the Program Help?
The program for startups and studios is designed to assist with creating a diverse Metaverse.
Are you Eligible?
Startups Vs Studios
Eligibility is split 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
- Employ at least three people
- Completed five productions
Both studios and startups need to have:
- Begun working on twins, avatars, and portability
- Begun 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 big step for any startup or studio. By joining the program offered by Meta, L’Oreal, and HEC Paris, your company will receive six months of assistance at the Station F campus. Acceptance to the six-month program provides access to the world’s largest startup campus. An investor community will be on hand to discuss the potential for success of each startup and studio. Members of the accelerator will take part in workshops and interact with members of the community at Station F.
Applying for the Program
The application process for the program ends on 11/20/2022. Applications are submitted through the online platform of HEC Paris. Following the initial jury selection, successful applicants from the first round make a detailed presentation to the jury. The presentation includes an eight-minute video followed by a question-and-answer session. The jury then provides detailed feedback.
The Grand Jury makes a decision about which startups and studios will join the program on 12/12/2022. This is 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. Linking up with experts from HEC Paris, L’Oreal, and the Station 5 community increases the chances of online success across several platforms. The application process can be viewed here. The need to guarantee inclusivity and diversity is vital to creating a representative community across the platform being created by Meta and its partners.