Amcor Lift-Off initiative to offer seed funding for innovative start-ups

Rhea-AI Summary

Amcor (NYSE: AMCR) announces the launch of Amcor Lift-Off, an initiative designed to support seed stage start-ups in the packaging sector. The program offers US$250,000 in investment and operational guidance to innovative companies focused on sustainable packaging solutions and technologies. Applications are open until May 15, 2022, with a final selection of five start-ups set to pitch for funding and resources later in June. This initiative aligns with Amcor's commitment to sustainability and innovation in packaging, enhancing growth and meeting societal expectations.

Positive

• Launch of Amcor Lift-Off initiative to support innovative packaging start-ups.
• Potential investment of US$250,000 for each selected start-up.
• Alignment with sustainability trends in the packaging industry.
• Opportunity to create partnerships and scale solutions.

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• None.

ZURICH, April 6, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX: AMC), a global leader in developing and producing responsible packaging solutions, today announced the launch of Amcor Lift-Off, an open-call initiative aimed at supporting seed stage start-ups that are focused on innovative packaging solutions and related technologies. Amcor Lift-Off offers these start-ups a chance to secure an investment of US$250,000, as well as operational guidance, to take their ideas to the next level.

Amcor is looking to partner with innovative leaders that are working to create more sustainable packaging solutions, new packaging technologies or have developed a new business model. 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 from around the world 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 as well as Amcor support and resources to refine their products, build partnerships and scale across geographies. Companies interested are invited to apply here:

Frank Lehmann, Vice President Corporate Venturing and Open Innovation at Amcor, commented: "As the global diversified packaging leader, Amcor is a firm believer in investing and developing early stage, cutting-edge innovation around sustainability and digitization for the packaging industry. 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 sustainable packaging. Amcor Lift-Off is just another example of how for 160 years Amcor has originated and supported industry-wide innovation – wherever and whenever it may originate.

"Our customers, and their consumers, want packaging solutions to evolve in line with societal expectations around sustainability, transparency and traceability – these solutions are the next generation of packaging and Amcor is bringing them to the forefront."

Amcor's corporate venturing work is focused on investing in innovative businesses and more 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 followed an earlier investment in ePac Flexible Packaging in 2021.

*Applications received after May 15, 2022, will be considered for a second Amcor Lift-Off event in November 2022.

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.

View original content:https://www.prnewswire.com/news-releases/amcor-lift-off-initiative-to-offer-seed-funding-for-innovative-start-ups-301518210.html

SOURCE Amcor

FAQ

What is the Amcor Lift-Off initiative and when was it launched?

Amcor Lift-Off is an initiative launched by Amcor on April 6, 2022, to support seed stage start-ups focused on innovative packaging solutions.

How much funding can start-ups receive through the Amcor Lift-Off program?

Start-ups can receive US$250,000 in investment as part of the Amcor Lift-Off program.

What is the deadline for applications to the Amcor Lift-Off initiative?

Applications for the Amcor Lift-Off initiative are open until May 15, 2022.

What are the strategic areas of innovation for applicants of Amcor Lift-Off?

Applicants must innovate in areas such as recycling systems, alternative barriers, paper-based solutions, smart packaging, biomaterials, or new business models.

What is Amcor's focus regarding sustainable packaging solutions?

Amcor aims to invest in and develop innovative, sustainable packaging solutions to drive long-term growth and meet consumer expectations.