Amcor Lift-Off initiative shortlists start-ups for seed funding

Rhea-AI Summary

Amcor (NYSE: AMCR) has launched the next phase of its Amcor Lift-Off initiative, aimed at investing in start-ups with innovative and sustainable packaging solutions. Over 100 start-ups submitted proposals, with eight finalists competing for funding and resources. These finalists focus on technologies like nano materials, biomaterials, and recycling processes. Ultimately, selected start-ups may receive up to $250,000 in funding, along with R&D support. This initiative highlights Amcor's commitment to sustainability and innovation in packaging.

Positive

• Amcor has shortlisted eight start-ups for funding, indicating strong interest in sustainable innovation.
• Selected finalists may receive up to $250,000 in funding along with operational support.
• The initiative signals Amcor's commitment to advancing sustainable packaging technologies.

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• None.

ZURICH, June 27, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, today announced the next phase of its inaugural Amcor Lift-Off initiative. Announced in April, Amcor Lift-Off is part of the organization's global innovation strategy to invest in start-ups with differentiated solutions and business models that are focused on new packaging concepts and related technologies, with particular emphasis on sustainability.

More than 100 start-ups from around the world submitted entries for the first-round open call. The top eight applicants have been identified to compete for funding and resources, and whose sustainability focus includes new technologies such as nano technologies and biomaterials as well as new barrier technologies, processes, and business models for recycling infrastructure and reusable packaging. 

In the next phase of Amcor Lift-Off, these companies will pitch their innovative ideas and business models to a panel of Amcor executives. The companies have been divided into key areas of strategic interest such as bio-based packaging materials, recycling and new business models within consumer goods packaging.

Vice President of Corporate Venturing and Open Innovation at Amcor, Frank Lehmann, said: "It is exciting to see the number and variety of start-ups who answered our call for innovative projects. Amcor Lift-Off further demonstrates our commitment to drive change through strategic partnerships and collaboration. We're excited for the next phase of the initiative to learn more about these companies, their ideas and opportunities to work together to develop more innovative solutions that will help our industry move toward a more circular economy."

As a leader in sustainability, Amcor is committed to investing and delivering technologically advanced packaging solutions to the market. The Amcor Lift-Off program joins Amcor's other key investments such as the addition of two new innovation centers in Asia and Europe, and its partnership with Michigan State University's School of Packaging that includes a $10 million investment and the establishment of an Endowed Chair of Packaging Sustainability for the school.

Start-ups reaching the finals will be presented with up to $250,000 in funding as well as research and development support and operational guidance to help make their ideas a reality on a global scale. To learn more about Amcor's corporate venturing, click here: https://www.amcor.com/about/ventures

About Amcor

Amcor is a global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures and services. The Company is focused on making packaging that is increasingly light-weighted, recyclable and reusable, and made using an increasing amount of recycled content. Around 46,000 Amcor people generate $13 billion in annual sales from operations that span about 225 locations in 40-plus countries.

 

 

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SOURCE Amcor

FAQ

What is Amcor's Lift-Off initiative?

Amcor's Lift-Off initiative is a program designed to invest in start-ups focused on sustainable packaging solutions and innovative technologies.

How many start-ups were considered in the Lift-Off initiative?

Over 100 start-ups submitted proposals for the Lift-Off initiative.

What funding is available for the finalists of the Lift-Off initiative?

Finalists can receive up to $250,000 in funding and additional research and development support.

What technologies are the focus of the Amcor Lift-Off initiative?

The initiative emphasizes technologies such as nano materials, biomaterials, and recycling processes.

When was the Lift-Off initiative announced?

The Amcor Lift-Off initiative was originally announced in April 2022.