THE INVESTOR

메뉴열기
May 27, 2019

Beiersdorf selects 5 Korean startups for accelerator program

PUBLISHED : April 09, 2019 - 14:25

UPDATED : April 09, 2019 - 14:25

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

German personal care giant Beiersdorf has chosen five South Korean early-stage startups to join its accelerator program at its new innovation hub in Seoul, according to sources on April 9.

Sponsored by Beiersdorf’s flagship cosmetics brand Nivea, the innovation hub will house its first batch of K-beauty startups -- Reziena, Mesquare, Limese, LYCL and PANDA.



Reziena develops internet of things devices for cosmetics and personal care. Mesquare owns a brand Glowhill that specializes in skin care products and perfumes. Limese operates a platform that delivers Korean products to salons, spas and stores in India. LYCL operates a mobile app for user reviews and recommendations for beauty products, while PANDA sells rice flour soap.

Beiersdorf said the program is a part of its “Open Innovation” initiative for building long-term relationships with external partners to spur innovation.

The chosen startups will be offered mentorship for research and development, funding, as well as free access to the innovation hub at WeWork Hongdae that is slated to open in June. Beiersdorf and WeWork formed a strategic partnership in Korea for the accelerator program last year.

The five were finalized on April 2, from among some 200 Korean startups dedicated to beauty business that applied for the program.

Of the five, LVCL and PANDA were participants in “Fortune 500 Connect” project by the Korea International Trade Association, designed to connect Korean companies with global firms.

“Accelerator programs for early-stage startups have been mostly funded by the government, which makes this program an unprecedented case,” a high-level official of KITA’s global startup acceleration department said.

“Through the program, startups in Korea will get opportunities to globally scale-up.”

Beiesdorf’s Korean unit could not be immediately reached for comment.

By Son Ji-hyoung (consnow@heraldcorp.com)

  • 페이스북
  • 트위터
  • sms
최상단으로
Herald Corporation|CEO : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. 아 04099
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.