The partnership will divide up to $100,000 between four women-led teams.
shoppers’ purchasing decisions, Rieken said the school’s approaches to innovation also mirror Living Proof’s.
“We need to give back and create an impact in the world that goes beyond just our products. Our ethos has always been this idea of what we call science and action. In our case, it’s about solving the world’s most challenging hair problems using science and technology,” he said. “But within the case of MIT Solver, they’re using a very similar ethos, which is to use science and technology to solve some of the world’s largest social challenges.
One of the problems Rieken hopes to mitigate includes the gender representation gaps in science. “According to the National Girls Collaborative, today, women only represent 28 percent of the science, technology, engineering or math workforce. These gender gaps are particularly high for some of the fastest-growing and highest-paying jobs of the future in computer science and engineering,” he said.
Living Proof’s workforce consists of 75 percent women, including its research and development department, which fuels the brand’s product pipeline with new technologies.. “It’s a great time to be in prestige hair care,” Rieken said. “Since I joined the brand in 2019, we’ve nearly doubled our revenue, and are on a really fantastic growth trajectory. One of the key drivers of that is innovation.
. Rieken also said international expansion added to the growth. “We’re seeing growth across all of our key channels, not only in our home market of North America, but in international markets like the U.K. and China, and we’ve significantly invested in brand awareness in the past year.”
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