News Release

The Estée Lauder Companies New Incubation Ventures launches Breakthrough Prize for 2023 BEAUTY&YOU India Program

A new grant for active ingredient companies, R&D labs and scientists pushing the boundaries of innovation that speak to Indian consumers

Grant and Award Announcement

The Estee Lauder Companies R&D

New York, August 3, 2023: The Estée Lauder Companies (NYSE: EL) (“ELC”) is excited to announce the second edition of BEAUTY&YOU. Created by ELC’s New Incubation Ventures (“NIV”) and launched in partnership with India’s preferred beauty and lifestyle retailer, NYKAA, BEAUTY&YOU aims to continue its mission to discover, spotlight and propel the next generation of Indian beauty brands (e.g., skin care, makeup, hair care, personal fragrance, and home fragrance). The program supports India-focused founders through a competitive application process that is open to prospective applicants through August 19, 2023, via Winners will be announced on November 2, 2023, at a live event in Mumbai.

The 2023 program introduces a new award to broaden the reach of the initiative. Scientists, active ingredient companies and labs are invited to apply alongside beauty company founders.

The 2022 debut of the program witnessed stellar response from new and emerging brands. With over 300 entries across 50 Indian cities, the application pool included a multitude of beauty brands across categories – skin care, hair care, fragrance and color cosmetics. For more details on the 2022 winners, please visit

“This year, we want to expand the program to include those companies and individuals who are creating truly breakthrough innovation via active ingredients and product technologies that speak to Indian consumers.  This may include new innovation in the areas of hyperpigmentation, acne, dark circles, sun and pollution protection,” said Shana Randhava, Senior Vice President, New Incubation Ventures, ELC. 

To support this initiative, BEAUTY&YOU releases a report entitled “Decoding the India Beauty Landscape.” The report, developed in partnership with 1Lattice – a New Delhi-based, tech-enabled business research and analytics firm – focuses primarily on various factors affecting consumer purchase behavior including concerns, motives, pain points, and accessibility. These insights, along with the resources that BEAUTY&YOU will offer, will help prospective applicants and award recipients craft winning strategies for their innovation.

2023 Prize Program

The following prizes are open to founders, companies, and creatives meeting specific application criteria available at:

  • BREAKTHROUGH: Innovation in active ingredients that address key issue areas for the Indian consumer
  • IMAGINE: Pre-launch beauty concepts
  • GROW: In-market beauty concepts
  • CREATE: The next generation of creative talent (e.g., photographers, filmmakers etc.) submitting work around the theme of ‘Experiential Beauty in India’

In addition, the program will have two Jury Prizes awarded to the brand with the most community support and the brand demonstrating the most innovative Corporate Social Responsibility (CSR) programming. Among other resources, BEAUTY&YOU provides award recipients with financial support (prize pool up to 4 Crore or approximately $500,000), distribution access, mentorship, and access to research and innovation resources. 

The BEAUTY&YOU website and application portal is accepting applications until August 19, 2023, 11:59PM IST. Full program details are available at


BEAUTY&YOU aims to help founders, innovators and creators grow their businesses holistically by identifying brand goals, achieving scale ambitions and curating product portfolios that speak to a new generation of Indian consumers.

About The Estée Lauder Companies’ New Incubation Ventures

New Incubation Ventures (“NIV”) is the strategic early-stage investment and incubation arm for The Estée Lauder Companies. NIV partners with forward-thinking founders and entrepreneurs to create, fund, and support the best-emerging beauty brands and new business models to shape the future of beauty and build an actionable pipeline of diversified brands and new engines of growth for the ELC portfolio.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of outstanding luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.


Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing inspiration and joy to people, everywhere, every single day. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one of India’s leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. With a wide assortment of 6000+ brands, today Nykaa is the preferred destination for millions of customers who shop on its platforms every month. Through its website, three apps and 145 physical stores across India, Nykaa offers a truly omnichannel retail experience. The Nykaa Guarantee ensures that products available at Nykaa are 100% authentic and sourced directly from the brand or authorized retailers. Through engaging and educational content, digital marketing, social media influence, robust CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts. Over the years, Nykaa has received many accolades for disrupting the beauty market.  At the 17th India Business Leader Award in 2022, Nykaa was awarded as the Disruptor of the Year and Kantar’s Brandz List features Nykaa as one of most valuable brands in India. 


Instagram: @beautyandyouawards

Brand Film:



Shana Randhava

Senior Vice President, New Incubation Ventures, The Estée Lauder Companies


Katrina Kaif

Actor & Co-Founder, Kay Beauty

Bhumi Pednekar

Actor, Investor & United Nations Development Programme (UNDP) National Advocate for Sustainable Development Goals (SDGs)


Anchit Nayar

Executive Director & CEO, NYKAA Beauty


Gaurav Gupta

Founder, Gaurav Gupta


Anaita Shroff Adajania

Founder, Style Cell


Samrath Bedi

Executive Director, Forest Essentials


Diipa Büller-Khosla

Founder, indē Wild


Masaba Gupta

Entrepreneur & Founder, LoveChild by Masaba


Nicola Kilner

Co-Founder and CEO, DECIEM


Deepica Mutyala

Founder, Live Tinted


Rosemin Madhavji

Founder, RR&Co.


Sanjay Garg

Textile Designer & Founder, Raw Mango


Anita Chhiba

Founder, Diet Paratha


Prachi Pawar

Vice President, Sequoia Capital India


Hariharan Premkumar

Managing Director, DSG Consumer Products


Jigar Shah

Co-founder, 82°E | VC


Rohan Vaziralli

General Manager, ELCA Cosmetics Limited


Jaffrey Zaman

Managing Director, Intercos India


Our Expert Panel of ELC Research & Development Advisors

Carl Haney

Executive Vice President, Research, Product and Innovation Officer, The Estée Lauder Companies


Prudvi Kaka

Chief Scientific Officer, DECIEM


Dr. Bhushan Hardas

Senior Vice President, Advanced Technologies, The Estée Lauder Companies


Sumit Bhasin

Senior Vice President, Global Fragrance Innovation, Product Development & R&D, The Estée Lauder Companies


Sam Cheow

Chief Global Trends & Makeup Innovation Officer, The Estée Lauder Companies


Susan Akkad

Senior Vice President, Local & Cultural Innovation, The Estée Lauder Companies


Christine Hall

Vice President, Research & Development, The Estée Lauder Companies


Jamie Ginott

Senior Vice President, External Innovation & Strategic Partnerships, The Estée Lauder Companies


ELC Contact

Scientific Communications: Sarah Vickery ( / +1-631-756-8166).

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