Sep. 15, 2022
Shiseido’s Open Innovation Program “fibona” Launches in China
~ Hosting a pitch event with startups in medical and holistic beauty ~
The open innovation program led by Shiseido Research Institute, “fibona” will launch the fourth phase of “Co-Creation with Startups”, one of its activity plans in China. Under the themes of “medical beauty technology” and “holistic beauty technology”, we have called for participation of Chinese startups in collaboration with Plug and Play China*1, which has a proven track record in corporate open innovation and startup accelerator. The startups that passed the pitch screening event held on August 29 and 31 will spend 100 days undergoing idea validation starting in September and then attend the final screening in December.
This will be the second time that the “fibona” has collaborated with overseas startups, following its activities in South Korea*2 in 2021. Going forward, Shiseido will aim to create innovations overseas at an early stage under its global R＆D network.
Under our unique R＆D philosophy “DYNAMIC HARMONY”, we, at Shiseido, are committed to making timely responses to consumer needs and trends through fusing innovative ideas and technologies owned by startups in various industries with our strengths, our knowledge, technologies, products, and services in the research field. We will continue to engage vigorously in creating innovations, such as unprecedented beauty experiences and services.
*1 Plug and Play CHINA: https://en.pnpchina.com/
*2 Shiseido Global Innovation Center’s Open Innovation Program “fibona” ~Collaboration with Overseas Startup Companies~
The open innovation program “fibona” and one of its activity plans “Co-Creation with Startups”
Shiseido’s research and innovation hub, the Shiseido Global Innovation Center (GIC), started full-scale operation in April 2019 as an urban open lab. The GIC is promoting activities to create innovation based on the concept of “the fusion of diverse people and knowledge”. Through “fibona”, an activity that symbolizes the GIC concept, we are taking on the challenge of creating new value that will excite and inspire the world by combining the unique ideas and technologies of external partners with Shiseido’s experience and expertise in beauty and science.
One of fibona’s activities, ”Co-Creation with Startups,” aims to speedily apply the ideas of startups to our products and services. To date, we have launched three startup collaborations, the first, second, and third phases in 2019, in November 2021, and in December 2021, respectively.
Application theme for the fourth phase of “Co-Creation with Startups”
For the fourth phase, we are looking for the “medical beauty technology”, which aims to create the “highly effective” beauty solutions sought by Chinese consumers, and the “holistic beauty technology” to create value through fusion with healthcare monitoring technology, which is making significant technological advancements and attracting high interest among Chinese customers.
On August 29 and 31, a pitch event was held at Shiseido China Innovation Center Shanghai Fengxian Branch*3. The startups that passed the preliminary pitch screening will undergo feasibility verification through prototyping and monitoring tests with Shiseido in preparation for the final screening in December.
*3 A research facility of Shiseido China Innovation Center established in “The Oriental Beauty Valley”, a center of the beauty and health industries in Shanghai, China to “accelerate innovation through external collaborations” in China. It started operation in 2021.
The startups that passed the pitch screening will go through a 100-day idea validation process and then attend the final round of screening in December. We are expecting to select new startups for collaboration from a variety of perspectives in creating innovations that will lead to value creation for consumers in China.
*The content of the release is correct as of the time of release, but please note that it may in some cases differ from the latest information.
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