SVBeautyTech purports to be Silicon Valley’s first beauty technology acceleration program and is an extension, of sorts, of the accelerator and seed fund known as igniteXL, founded and directed by Claire Chang.
igniteXL focuses on emerging global companies founded by international entrepreneurs and provides resources to help participating companies thrive in spite of the challenges posed by culture and language differences.
Beauty entrepreneurs commonly find themselves educating would-be investors and mentors as much about the business of beauty as about their particular business. So it seems that Chang has hit upon another sector of the founder economy where startups need a helping hand to effectively navigate culture and language differences.
What’s needed now
“Technology today is upending the $440 billion global beauty industry,” emphasizes Chang, in comments she shared with the press. “It is a very exciting time for the beautytech ecosystem and I am thrilled to launch the SVBeautyTech acceleration program in partnership with Draper University.”
According to the accelerator’s website, participating companies are given housing for the three-week term, co-working space, pitch coaching, custom programming, educational workshops and panels, mentors, access to investors, networking, US incorporation service, and more.
“We are giving this select group of startups access to an immersive custom-designed beautytech program,” says Chang, “including individual pitch coaching by SV’s legendary VC Tim Draper, an exclusive private session with Michelle Phan, Co-Founder of IPSY, as well as access to a vast network of early stage investors.”
Who’s on the fast track
On Sunday, June 24 SVBeautyTech got underway with the first 9 tech startups selected to participate in the program. The companies involved are working in beauty and in fashion and are focused on tech solutions and data strategies involving skin diagnosis, product recommendations, ecommerce, AI, DNA, etc.
The companies participating are listed and described here (exactly as they are in the SVBeautyTech press release):
- Baybiotech Co.,Ltd is the research and development of intelligent skin diagnosis device. With the huge amount of the big data obtained through their device, they aim at becoming a specialized beauty platform to offer customized cosmetics, skin care, and marketing links with skin care shops and dermatologists.
- BeautyVise is a personal beauty and a lifestyle advisor connecting users, brands, influencers, and the best beauty professionals in the market. They help women to discover beauty products providing reviews, the best prices, how to apply video tutorials and more.
- Cosme Hunt is a J-beauty focused social e-commerce platform. We allow people from different backgrounds to shine by finding their own beauty with fun and innovative J-beauty products through Instagram and Facebook.
- ELSI Skin Health is the first clean, minimalist, and science-based skin care line developed for the most delicate skins; soothing, high-performance products.
- Fifteen Degrees is an innovative beauty company with patented cosmetic technologies such as a dissolvable topical collagen film for daily use. Through our lifestyle brand, ATEM, our goal is to fuse innovation with design, function, and sophistication, using these developed technologies and our partnerships to empower the professional woman and man.
- SkinGenie is the world's first AI & DNA-based tech platform that offers diagnostics and personalization for skincare, haircare and beauty supplements.
- La Mienne is an on-demand beauty marketplace connecting clients with professional freelance beauty artists to provide mobile beauty services where and whenever the clients want them.
- Madam Indigo is a best in class ethnic hair care retailer and service provider. We provide curated hair solutions to women of color who reside overseas and empower beauty entrepreneurs to increase their profits in the $500 billion black hair care industry.
- Yes Plz . AI for fashion search. Their proprietary machine learning algorithm finds you clothes you want to wear from online shopping malls based on fit and silhouette recognition.
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.