Amcor launches seed funding initiative to uncover next-gen environmental and digital solutions
07 Apr 2022 --- Amcor is introducing an open-call initiative to support seed-stage start-ups focused on innovative packaging solutions and related technologies. The Amcor Lift-Off initiative offers these start-ups a chance to secure an investment of US$250,000 and operational guidance to propel their ideas to the next level.
The packaging giant says it is looking to partner with innovative leaders that are working to create more environmentally sustainable packaging solutions, new packaging technologies or new business models.
Applicants must be innovating in at least one of six strategic areas to apply: recycling systems, alternative barriers, paper-based solutions, smart and connected packaging, biomaterials, or new industry business models. Incorporated companies worldwide can apply for free, regardless of whether they have raised funds before.
The Amcor Lift-Off program will proceed in three phases:
- Applications will be open online until May 15, 2022
- Applicants will then be screened and shortlisted, with up to 20 start-ups invited for a first call to pitch their ideas
- Five final start-ups will be invited to pitch on a first Lift-Off day toward the end of June before a team of senior Amcor leaders.
Based on the ideas pitched, each of the five finalists could receive US$250,000 in the form of a convertible loan and Amcor’s support and resources to refine their products, build partnerships and scale across geographies.
Environmental focus
Amcor highlights that the initiative will target environmentally sustainable packaging and new technologies. Yesterday, the company unveiled recycle-ready PE packaging for coffee and cheese under its AmPrima line in Europe, meeting consumer demand for easier to recycle packaging.
The Amcor Lift-Off initiative will in part support connected packaging tech.
“As the global diversified packaging leader, Amcor is a firm believer in investing and developing early-stage, cutting-edge innovation around [environmental] sustainability and digitization for the packaging industry,” says Frank Lehmann, vice president of corporate venturing and open innovation at Amcor.
“We look forward to establishing an ecosystem of start-ups to complement and amplify Amcor’s growth agenda and to further raise the bar and expectations on what can be achieved through innovative and more [environmentally] sustainable packaging.”
“Our customers, and their consumers, want packaging solutions to evolve in line with societal expectations around [environmental] sustainability, transparency and traceability – these solutions are the next generation of packaging, and Amcor is bringing them to the forefront.”
Corporate venturing
Amcor says its corporate venturing work is focused on investing in innovative businesses and more environmentally sustainable packaging solutions to drive long-term growth.
Earlier this year, Amcor announced a strategic investment in PragmatIC Semiconductor, a world leader in ultra, low-cost electronics which can be embedded into packaging. This move followed an earlier investment in ePac Flexible Packaging in 2021.
In similar news, Avery Dennison recently launched a “label industry-first” program called AD Stretch, partnering with start-up innovators to solve critical challenges and create new opportunities for environmental sustainability, customer experience and value chains.
By Joshua Poole
