OSMO and L'Oréal Canada join forces to propel the Montreal startup ecosystem


OSMO is very pleased to announce today the launch of an open innovation program with L'Oréal Canada, a leader in the Canadian cosmetics industry and a leader in technological beauty. The goal of this partnership is to bring L'Oréal Canada closer to the startup ecosystem in order to implement innovative technological solutions within its operations, to optimize the customer experience, while allowing the excellence of local technological startups to shine.

From left to right: Patrick Gagné, CEO, OSMO; Frank Kollmar, Président & CEO, L’Oreal Canada; Valérie Forget, Director Programs, OSMO; Robert Beredo, CDO, L’Oreal Canada. (CNW Group/L'Oréal Canada Inc.)

From left to right: Patrick Gagné, CEO, OSMO; Frank Kollmar, Président & CEO, L’Oreal Canada; Valérie Forget, Director Programs, OSMO; Robert Beredo, CDO, L’Oreal Canada. (CNW Group/L'Oréal Canada Inc.)


Find tailor-made solutions to new challenges
The agreement is part of OSMO's vision to bring local entrepreneurs and global corporations together. This new open innovation program with L'Oréal Canada strongly affirms this strategic vision. On the one hand, the program enables Montreal and Canadian entrepreneurs to benefit from L'Oréal Canada's extensive resources and access to a major customer potential. In return, L'Oréal Canada benefits from the opportunity of working with technology entrepreneurs.

"Entrepreneurs and large organizations definitely have an interest in working hand in hand. OSMO's goal is to bring big companies closer to the startup ecosystem in the next few years. We are very proud to count on the support of L'Oréal Canada as one of our main partners," says Patrick Gagné, CEO of OSMO.

"Digital technology has radically transformed L'Oréal in the world and in Canada. New technologies, on the other hand, open up new horizons to beauty and a partnership like the one with OSMO, will contribute greatly to the achievement of our goal of being a pioneer, champion and leader of Beauty Tech," says Frank Kollmar, CEO of L'Oréal Canada.

"This partnership with OSMO is part of L'Oréal Canada's digital strategy, one of whose goals is to always be on the lookout for and at the forefront of technological innovations. The proximity to the Montreal start-up community will allow us greater accessibility to innovative technologies, but also an opportunity to partner and collaborate with the exceptional talent Montreal has to offer," says Robert Beredo, CDO of L'Oréal Canada.

L'Oréal Canada invites entrepreneurs to a call for preliminary projects
To mark the beginning of this new agreement, entrepreneurs are invited to participate in a call for preliminary projects. Are expected at the rendezvous, all startup entrepreneurs working in technology, whether data management, artificial intelligence, marketing or sales. Program dates will be announced shortly.

Are you a technology startup? Find out more here: https://osmoinnovation.org/loreal-canada-open-innovation

About L'Oréal Canada
L'Oréal Canada is a wholly owned subsidiary of L'Oréal Group, the largest cosmetics company in the world. Headquartered in Montreal, the company had sales of $1.280 billion in 2018 and employs more than 1,300 people. The company holds a portfolio of 36 brands, encompassing all aspects of beauty, and is present across all distribution networks: mass market, department stores, salons, pharmacies, drugstores, and branded retail. L'Oréal Canada, whose operations are carbon neutral, supports the L'Oréal Foundation's programs such as L'Oréal-UNESCO For Women in Science, which has promoted the advancement of women in science in Canada since 2003, Beauty for a better life, a social reintegration program in hairdressing for immigrant women since 2017, and the just recently launched Women in Digital support program.

About OSMO
As a non-profit organization, OSMO's mission is to provide ecosystem development for local start-ups and to ensure that Montreal is in the top 20 of the global business ecosystem. OSMO's flagship achievements include: Innocité, Startupfest and AI For Good Summer Lab. Thanks to the Notman House, OSMO offers a vibrant and accessible environment for all, promotes collaboration, knowledge transfer and sharing of know-how between the various actors of the entrepreneurial community. For more information, visit www.osmomtl.org.

SOURCE L'Oréal Canada Inc.

For further information: OSMO program information and interview requests: Valérie Forget, Director, Programs, OSMO, valerie@osmomtl.org; Information on L'Oréal Canada: Virginie Hotte-Dupuis, Manager, External Relations and Philanthropy, virginie.hotte-dupuis@loreal.com

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