Beiersdorf setting a milestone with first K-Beauty Accelerator

Tech and innovation are putting on their sheet masks – Global skincare brand Beiersdorf wants to find the next pioneer of K-Beauty with its K-Beauty Accelerator “NX.” Beiersdorf, who owns world-famous skincare brands such as NIVEA, La Prairie and Eucerin, is now joining the K-beauty race.

K-Beauty Accelerator Launched in Korea

On July 25th, 2019, Beiersdorf Korea held the official opening ceremony. The party was joined by the five selected startups and a host of guests. Beiersdorf is the first brands to ever launch a K-beauty accelerator in Korea. In partnership with WeWork, the beauty giants first announced their plans for a beauty innovation hub in December 2018.

Jacek Brozda, Manager Ventures and New Business

How the NX Accelerator was Born

Jacek Brozda, Manager of Ventures and New Business, shared that the initial idea came about a year ago. Inspired by the booming startup scene in Korea, the team wanted to do something “out of the box”. At first, the team wasn’t sure whether the concept will get approved. However, the board member for Asia-Pacific, Mr Ralph Gusko, loved the idea of a beauty innovation hub. Ralph encouraged the team to carry on with the idea. And as a result, the team was able to secure funds and execute the program. Within a few months the team setup everything bottom-up, including brand development, space design, startup scouting and selection. Over 200 startups have been evaluated for the launch of NX in Korea.

 

Representatives cutting the ribbon

Cutting the Ribbon with German AmbassadorStephan Auer

Also present at the opening event was German Ambassador, Stephan Auer. During his speech, Auer shared that the NX accelerator is a great opportunity for both parties. As a global brand, NIVEA helps startups broaden their horizons. In addition, it gives them access to a worldwide market. On the other hand, startups provide their technical skills and digital knowledge. They can help traditional companies adapt to current and future trends. Furthermore, the ambassador believes that through the NX Accelerator, both startups and Beiersdorf “can become the backbone of Korea’s economic future and sustainability.”

 

German Ambassador Stephan Auer

“The NX accelerator program sets an example and shows the diversity and liveliness. It’s a complementation between German-Korean economic relations.”

K-beauty has been dominating the Asian beauty market for years. It has found huge international recognition. Moreover, Exports have grown from $1 billion in 2012 to $2.64 billion in 2017.  Therefore,this makes Korea one of the leading experts in the beauty industry worldwide.

The NX team and their first five startups; Unpa, Reziena, Limese, Glowhill, and Panda are located at WeWork, Hongdae. The beauty entrepreneurs aim to revolutionize the beauty industry with NIVEA’s support. For a duration of at least one year, the startups will collaborate with NIVEA in a strategic partnership agreement. Support ranges from mentoring, investment, strategic projects, space as well as global exposure. For instance, on August 21st the NX Accelerator and the startups will showcase their projects at the Indie Beauty Expo in New York.