From May 22-26, the 8th Viva Technology conference was held at Expo Porte de Versailles in Paris, France, which is the largest startup and tech event in Europe, with the in-depth participation of a number of French luxury and beauty giants. Luxe.CO team are on hand to visit the latest technology innovation trends closely related to the fashion industry.
On the morning of May 23rd, the 8th LVMH Innovation Award was held at the Viva Technology Hall. A number of executives from the French luxury giant LVMH, the organizer of the award, presented prizes to the winners of the individual awards, and Bernard Arnault, Chairman/CEO of the group, was also present to present the Grand Prize to the Chinese startup FancyTech and make a speech. He said that: “This is an opportunity to collaborate with our Maisons and contribute to the transformation of the luxury sector.”
Bernard Arnault with the winners
Bernard Arnault also gave an inspiring speech, sharing the values that the LVMH Group shares with startups and giving his own advice to entrepreneurs, which is summarized below:
“First, I would like to say that in our group we are managing 75 grown up startups. Each of these companies that we have and we called our Maison, we still a family company run by the family members.
Many years ago, in the 1990s, when the tech startup started to be very successful, we invested in several startups. Some went very well and some failed. I remember we invested in Google, when it was started, I did not know, nobody knew, but it was very, very successful. After. We were also a major investor in Netflix.
The reason for the success of the startup is very close to our values.
The first value for the group is creativity. I will not elaborate; everybody knows what we do. Same thing for the startup, but creativity is not enough. Then you need quality, which also is key in the products, even in the tech products it has to work well and thirdly, we need enterprise spirits, we must be efficient because we have seen so many startups at the beginning with fantastic ideas, but going nowhere.
Because execution is key. You have to make things work and to do that you need to have a real enterprise spirit. It’s what I think we have in the group and what we cultivate, and I think for the startups is key to not only have extraordinary ideas, but to make them work very efficiently. If you take what happened to some at the time I mentioned in the 90s, you had a lot of companies doing almost the same thing, but only one is still there.
I think we share and some of you have explained, that is to give sense to what we do.
And in LVMH we try to work to protect the planet and also to give sense to what the whole team are doing and with diversity to protect our people, to try to give family spirit in what we do.
Recently to illustrate this, we are, as you know, the major partner of the Olympic Games.
First of all, because it’s the first time in the century that the Summer Games are in France. And also, because in the Olympics, you celebrate the athlete spirit. And I think if you want to be successful in the startup or in the bigger company, you have to have the spirit of a athlete of high level and every day for a long time.
So, I tell you, it’s just a beginning.”
FancyTech wins 2024 LVMH Innovation Award 2024
FancyTech, which also won the Immersive Digital Experiences category, uses AI-generated video scripts (Python code) to control video movements and lighting effects in video production software, based on creative briefs provided by brands. Combined with realistic 3D models, these videos can be rapidly generated in very high quality, and even feature movements impossible to achieve manually.
Above: Bernard Arnault and FancyTech co-founder Morgan Mao
Note: The winner’s trophy was designed by Dior and blown in Murano glass using artificial intelligence technology, echoing the theme of the LVMH pavallion, “The Dream Garden” and the trophy case was customized by Louis Vuitton.
2024 prize winners by category
Image & Media for Brand Desirability: Ircam Amplify
Amplifying the power of sound for brands and user experiences
The result enhances brand identity and user engagement, with a full spectrum of custom sound design and immersive installation. Their knowledge can be applied to brand identity, online experiences, connected products or objects, points of sale or events.
Sustainability & Greentech: Aectual
Circular 3D printed store and architectural finishes using recycled materials
Aectual interior products and architectural finishes are waste free and fully digitally produced with XL 3D printer using recycled materials. After use, they take back the product and shred it into new materials, and directly 3D prints new updated products with it.
Immersive Digital Experiences: FancyTech
GenAI video production based on product 3D model and creative brief
CF. Grand Prize
Omnichannel & Retail: Glanceable
AI-powered customer feedback analytics solution
Glanceable uses AI for quick feedback replies, real-time dissatisfaction detection, identifies growth areas, offers strategy insights, recommendations & provides advanced analytics for strategic planning, enhancing decision-making & customer satisfaction.
Operations Excellence: Authena
IoT solutions for real-time traceability and product authenticity protection
Authena harnesses IoT and AI to redefine supply chain integrity, transforming vast data into actionable insights for authenticity and sustainability. This eradicates counterfeits, reduces by 90% product diversions and helps meet ESG commitments.
Employee Experience, Diversity & Inclusion: Heralbony
Art license for enterprise with unique narratives by artists with disabilities
Heralbony ensures quality collaboration between artists with disabilities and companies from planning to production. This creates business opportunities for artists, allows companies to integrate inclusive art narratives to promote engagement, DEI.
Special Mention: DATA, AI and Gen AI Solutions: BLNG
Sketch-to-design GenAI and virtual studio for jewelry
Our solution addresses common challenges faced by jewelry businesses, streamlining design processes, reducing costs by replacing traditional methods with digital alternatives, and offering personalized guidance to simplify customer decision-making.
The finalists of the 8th LVMH Innovation Award in each category are listed below:
The LVMH Innovation Award
The LVMH Innovation Award is open to start-ups less than five years old, with a valuation of less than $100 million and fewer than 50 employees, whose solutions are relevant to the challenges facing the LVMH Group and its maisons.
The Innovation Competition received a record 1,545 applications from 89 countries.
According to the rules, participating startups can apply for six category tracks based on their specificities, and one startup will be selected in each category; in addition, a startup offering solutions in data, artificial intelligence and generative AI will receive a special nomination; and one company will be selected as the grand prize winner of the LVMH Innovation Award.
All winning companies will receive their awards at an awards ceremony organized during VivaTech and will be given the opportunity to collaborate with the LVMH Group and its maisons.
In addition, all finalists will have the opportunity to join La Maison des Startups, the LVMH Group’s incubator program, where they will receive 10 months of support, mentoring and access to the LVMH network of experts in the luxury industry.
| Source: press release, Luxe.CO’s report on site
｜Image Credit : Luxe.CO
丨Reporter: Jiang jingjin
｜Editor: LeZhi
