Amcor Lift-Off Initiative shortlists start-ups for seed funding
SWITZERLAND – Amcor, a global leader in developing and producing responsible packaging solutions has announced the next phase of its inaugural Amcor Lift-Off initiative.
Launched 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.
The initiative received more than 100 entries from start-ups in the first round. The top eight applicants have been identified to compete for funding and resources, and whose sustainability focus includes nanotechnologies and biomaterials as well as new barrier technologies, processes, and business models for recycling infrastructure and reusable packaging.
The 8 shortlisted companies for the second phase will present 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 driving 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 US$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 US$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.
Earlier this year, Amcor also 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.
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