TLDR:
- The beauty industry is not embracing tech and biotech innovations.
- The lack of support and awareness from media, conferences, and investors stifle innovation.
Sindhya Valloppillil’s article discusses how the beauty industry’s focus on consumer brands rather than tech and biotech innovations hinders progress. The media, conferences, and investors largely overlook these sectors, which results in missed opportunities for growth and advancement. The pay-to-play nature of industry conferences also discourages early-stage tech startups from participating fully. Despite this, tech companies in the beauty industry like Hydrafacial and Perfect Corp are flourishing. Valloppillil points out that the biggest opportunities lie in biotech, longevity skin health, teledermatology, personalization, hardware, and enterprise SaaS. The industry has the potential to embrace technological innovations to bring about significant changes.
