In Coty launched a digital initiative to attract start-UPS to business development. The company is ready to allocate 100 thousand dollars for the implementation of the best achievements in the field of artificial intelligence.
Perfume-cosmeticsdatabase Coty has announced the launch of a new program of technological cooperation and invites startups to share their news in the quarterly Digital Accelerator Summit and get the opportunity to work with a rich portfolio of brands, Coty. The new program will focus on the application of innovative technologies, the first will be development in the field of artificial intelligence. The authors of the best decisions the company will offer a cash prize of $ 100,000.
Interested startups can submit their best solution in the application of artificial intelligence, selecting any brand from Coty’s portfolio, which includes more than 70 items. The deadline is 12 March 2018. Materials must meet the following criteria:
contain a brief summary of the project: what is its uniqueness?
for example, a particular brand of show, what are the benefits of the use of new technology;
to describe the preferred partnership model for pilot testing in the market.
Based on the projected results, and depending on criteria (common understanding of business concepts, the momentum of revenue growth, capacity building, etc.) Coty will select the top 8 startups that will present their ideas to the leaders of Coty brands at the Digital Accelerator Summit on 27 and 28 March in London and new York.
The company also provides the prize Fund of 100 thousand US dollars, which will be distributed in cash prizes in the amount from 10 thousand to 50 thousand U.S. dollars. In addition, the winners will receive strategic support to the digital team Coty, the possibility of rapid communication with brand managers around the world Coty, Coty experience, including access to research, and stress testing technology using budgets Coty.
We are now focused on improving digital technology in the company, and the launch of the Digital Accelerator is a key milestone in this transformation. We are developing commercial relationships with startups that are consistent with our key priorities, and support the principle of “act like a startup” with his creative approach, flexibility and quick response, commented Coty chief Executive for digital media Jason Forbes.
In cooperation with new companies, such as Beamly, and Holition, we launched the first project applying augmented reality technology exclusive to COVERGIRL. It was a vivid example of how we plan to transform the market, introducing advanced technologies — said Fred Gerantabee, Vice-President of Coty for digital innovation. We intend to develop these relationships and expect to get even more fresh ideas on the Digital Accelerator Summit.
Digital Accelerator Summit on March 27-28 will reveal a series of events where representatives of start-UPS will present their designs to the experts Coty. It is expected that the upcoming theme touched upon the use of augmented reality technologies and 3D printing.