Calling all Applicants: Estée Lauder Companies New Incubation Ventures Launches 2023 BEAUTY&YOU India Program
The Estée Lauder Companies (ELC) is launching the second edition of BEAUTY&YOU.
Created by ELC’s New Incubation Ventures and launched in partnership with India’s preferred beauty and lifestyle retailer, NYKAA, BEAUTY&YOU aims to continue its mission to discover, spotlight and propel the next generation of Indian beauty brands.
The program supports India-focused founders through a competitive application process that is open to prospective applicants through August 19, 2023, via www.beautyandyouawards.com. Winners will be announced on November 2, 2023, at a live event in Mumbai.
“This year, we want to expand the program to include those companies and individuals who are creating truly breakthrough innovation via active ingredients and product technologies that speak to Indian consumers. This may include new innovation in the areas of hyperpigmentation, acne, dark circles, sun and pollution protection,” says Shana Randhava, Senior Vice President, New Incubation Ventures, ELC., in a news release.
To support this initiative, BEAUTY&YOU releases a report entitled “Decoding the India Beauty Landscape.” The report, developed in partnership with 1Lattice – a New Delhi-based, tech-enabled business research and analytics firm – focuses primarily on various factors affecting consumer purchase behavior including concerns, motives, pain points, and accessibility. These insights, along with the resources that BEAUTY&YOU will offer, will help prospective applicants and award recipients craft winning strategies for their innovation.
The 2023 Prize Program
The following prizes are open to founders, companies, and creatives meeting specific application criteria available at: www.beautyandyouawards.com/application-criteria.
- BREAKTHROUGH: Innovation in active ingredients that address key issue areas for the Indian consumer
- IMAGINE: Pre-launch beauty concepts
- GROW: In-market beauty concepts
- CREATE: The next generation of creative talent (e.g., photographers, filmmakers etc.) submitting work around the theme of ‘Experiential Beauty in India’
In addition, the program will have two Jury Prizes awarded to the brand with the most community support and the brand demonstrating the most innovative Corporate Social Responsibility (CSR) programming. Among other resources, BEAUTY&YOU provides award recipients with financial support (prize pool up to 4 Crore or approximately $500,000), distribution access, mentorship, and access to research and innovation resources.