Amorepacific held “APTechUp+ Demo Day” in Seoul, Korea. APTechUp+ is the first Korean Startup Accelerator launched in partnership by Amorepacific and FuturePlay to foster promising beauty startups. Amorepacific will provide support to five startups, who will have the opportunity to gain financial and operating independence while their performance will be evaluated to determine which companies will receive a second round of investment and the opportunity to participate in strategic tie-ups with Amorepacific.
With the exception of Biovit, an anti-infection coating, none of these companies chosen for the incubator are conceptually new. However, it is easy to see how the Amorepacific portfolio could benefit from the technology of these startups.
virtualive: An AR-enabled virtual hairstylist that uses selfies to simulate various natural hair styles while also offering services and products.
Biovit: Anti-infection coating combined with the human immune system. These coatings are made up of proteins found in the human skin and can be applied to all existing products.
Trove: Deep-learning-based skin diagnosis that uses an aggregation of pictures taken by the user via smartphone that provides analysis, diagnosis of the skin, and product recommendations.
Paffem: Personalized perfume service. Using proprietary algorithms, Perfume Teller helps users find a scent to match personal tastes.
Reziena: An IoT (internet of things) at-home anti-aging device using high-intensity focused ultrasound (HIFU). It connects to a mobile app that analyzes and records skin conditions and suggests personalized services.
“We deeply appreciate the beauty tech startups who joined APTechUp+, the first beauty startup incubator program in Korea, and many stakeholders for their interest and effort,” said Paul Kang, Executive Vice President of Amorepacific’s Marketing Strategy Unit in the release. “Amorepacific will continue to lead the innovation of the beauty market by actively converging beauty and digital technology.”
In the same release Jung-hee Ryu, CEO of FuturePlay, said, “We are happy to collaborate with innovative startups who are pioneering a new category in the beauty market using future forward technologies,” and added, “FuturePlay will continue to encourage opportunities for co-growth between industry leading companies and startups.”
Read the full release from Amorepacific.
Photo: Amorepacific website