L’Oréal USA announces the L’Oréal Women in Digital Program, a new initiative that will celebrate and nurture women working in technical and digital roles. L’Oréal Women in Digital will promote the design of new and innovative technologies that will address the needs of the beauty industry with technology created by women and for women.
“Our mission is to inspire and empower women to drive the advancement of digital technology to meet the needs of the female consumer,” stated Rachel Weiss, Vice President, Digital Strategy, L’Oréal USA and Chair of L’Oréal Women in Digital. “There is a tremendous opportunity for women to influence and create the user experience in the digital space, and no company can help foster and grow this initiative like L’Oreal.”
As part of this initiative, L’Oréal will be awarding 5 “NEXT Generation Awards” to the top rising female entrepreneurs managing and leading technology-driven companies.
Final nominees and the winners will be selected from a scorecard judged by a panel of L’Oreal USA executives, Venture Capital Partners and the L’Oreal Women in Digital Board of Advisors. Honorees will be announced and celebrated at a private invitation-only event attended by digital industry leaders, investors, L’Oreal top executives and the press. Winners will also receive airfare, two nights’ accommodations and an itinerary introducing them to investors, L’Oreal executives and strategic partners.
The entry period is open now through May 30th on www.lorealwomenindigital.com and is in partnership with the L’Oréal NEXT FUND. The NEXT fund will also be open to ongoing applications for grants for women led-technology companies to experiment with L’Oréal throughout the year.
Why L’Oréal Women in Digital Matters:
Female students comprise 46% of Advanced Placement (AP) Calculus test-takers, but only 19% of AP Computer Science test-takers. Women hold 56% of all professional jobs in the U.S. workforce, but only 25% of IT jobs. Only 11% of executives at Fortune 500 tech companies are women. In 2009, just 18% of undergraduate Computing and Information Sciences degrees were awarded to women; in 1985, women earned 37% of these degrees. Tech companies with more women on their management teams have a 34% higher return on investment; the presence of women on technical teams increases teams’ collective intelligence (problem-solving ability and creativity).
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