The 2017 L'Oréal USA Women in Digital NEXT Generation Awards is accepting nominations (and self-nominations) of women-founded companies through June 17.
Over 15 women have already been honored by the program, and that group has raised over $350m in total funding since having won the Women in Digital NEXT Generation Awards, according to L'Oréal. Past winners include Kathryn Minshew, founder and CEO of The Muse; Bettina Hein, founder and CEO of Pixability; and Rachel Tipograph, founder and CEO of MikMak.
A grand prize winner “partner[s] on a pilot with one of more than 30 iconic L'Oréal brands,” as the company’s press release announcing the nominations period notes. It’s a chance for an innovative entrepreneur to work directly with a multinational company, and a valuable learning opportunity for both parties.
“L'Oréal is dedicated to creating opportunities for women to shape the direction of the beauty business,” Rachel Weiss, vice president of innovation and entrepreneurship at L'Oréal USA, tells the press. “We're proud that this program has created a strong pipeline of entrepreneurial talent and a powerful community of more than 2,000 female-operated companies, who now have a platform to network and learn new business acumen to drive their technology forward,” says Weiss.
According to the company’s About the Awards page “L’Oréal is seeking women-operated businesses that can help conceive, launch, and scale new technology that has the potential to revolutionize the digital space, drive brand innovation, and shape the next generation of the beauty industry.”
From the nominees, three finalists will be chosen. Those women will meet with company executives and a professional coach at L'Oréal headquarters in New York City for a conversation about growing their digital business. Beyond that, the finalists are mentored by an Advisory Board of highly successful women professionals including Arianna Huffington and Beth Comstock.
Also, those women and their companies will present to 500+ L'Oréal marketing executives at the company’s annual Inspiration Day event in September. And from that, the grand prize winner is chosen.
Once it’s all over, it isn’t over: “The Women in Digital program is also launching an alumni group where past winners, finalists and advisory board members can stay in touch and network, both online and in person.”