THE WHAT? L’Oréal, Meta and HEC Paris are teaming up to launch an accelerator for Metaverse-focused start-ups, according to a report published by Metaverse Insider.

THE DETAILS The accelerator will be based at Meta’s Parisian offices and applications will close on November 20, with selections made in December. The program will run from January through June, 2023 with participants granted access to mentors and investors.

THE WHY? The initiative is designed to help the French beauty giant build its presence in the Web3 universe, says Metaverse Insider. L’Oréal’s Chief Digital and Marketing Officer, Asmita Dubey told the publication, “It brings a lot of young talents together. They’re the future. Imagine the massive creative energy that it generates. The benefit for us is that we can use that creativity for our DMI and brands. So, of course, we will leverage that.”