THE WHAT? Shiseido has announced that its open innovation program, led by Shiseido Research Institute, fibona, has decided to start collaborating with overseas start-up companies. The Co-creation program has selected Korea’s LABnPEOPLE Co as its first overseas partner.
THE DETAILS With Medical Beauty named as its first theme, the J-beauty giant is aiming to create new innovations in the field of aesthetic medicine, a field in which Korea excels. Some 60 applications were submitted within the recruitment period, which spanned October and November and was carried out in partnership with the Korea Trade Association’s Innobranch open innovation platform.
THE WHY? Shiseido revealed in a statement, “We will combine new technologies and services from all industries with Shiseido’s science and knowledge of beauty, regardless of the cosmetics and beauty fields. By doing so, we aim for research and commercialization in new fields.”