Broadening Horizons Through Deep Tech
Céline Farcet’s journey at L’Oréal R&I exemplifies a profound evolution in corporate innovation, transitioning from material science to spearheading tech partnerships.
She shifted her focus from academia to startup collaborations, particularly in Deep Tech, to enhance L’Oréal’s innovation pipeline. “I was super curious about it,” Farcet explains, highlighting her proactive move towards more open and collaborative innovation models.
This strategic shift in tech partnering strategies underscores L’Oréal’s commitment to integrating sustainable technology and deep tech collaboration into their corporate fabric.
Innovation at L’Oréal: A Global Perspective
The scope of Farcet’s role at L’Oréal is truly global. Her activity spans across the U.S., Israel, Asia, and Europe.
This international strategy allows L’Oréal to “scan globally all the innovations that could come from the ecosystem of startups.”
This ensures that only the most fitting advancements are chosen, aligning with their strategic challenges. Such global scanning is crucial for maintaining a competitive edge in the rapidly evolving cosmetics sector.
Pioneering Projects and Partnerships
Farcet shares insights into some exciting projects, such as L’Oréal’s acquisition of Lactobio. This Danish microbiome startup (the microbiome is the community of microorganisms, such as fungi, bacteria and viruses, that exists in a particular environment) is part of L’Oréal’s portfolio alongside Gjosa, a Swiss company. Gjosa developed a low-flow showerhead in partnership with L’Oréal.
These examples highlight L’Oréal’s dedication to diversifying its technology base and enhancing sustainability efforts. Furthermore, they reflect L’Oréal’s strategic approach to improving product offerings through innovative external collaborations.
The Role of Events in Scouting Innovations
Participation in events like Hello Tomorrow’s Global Summit is crucial for Farcet and her team.
These events help them identify and integrate cutting-edge technologies. “It’s not enough to just meet [startups],” Farcet explains.
She emphasizes the importance of conducting meticulous technical due diligence. This process determines the potential cosmetic value of new technologies. Consequently, this thorough vetting ensures that only the most promising innovations meet L’Oréal’s rigorous selection criteria.
Looking Ahead: Innovation at L’Oréal Through Sustainability and Tech Integration
Farcet is particularly excited about the role of sustainable technologies in meeting L’Oréal’s future goals.
The ‘L’Oréal for the Future’ program aims to transform L’Oréal’s activity by taking into
account the complete value chain (upstream and downstream) by 2030. One of the commitments leads to increase in the incorporation of bio-based ingredients through sustainable processes without increasing
land use.
This ambitious plan requires continuous innovation and effective partnerships, leveraging both to maintain a balance between growth and sustainability.
Find Céline on:
- LinkedIn: Céline Farcet
Find Ben on:
- LinkedIn: Ben Costantini
- Twitter/X: @bencostantini