Amcor has moved to the next phase of its inaugural Lift-Off initiative, shortlisting the start-ups to invest in, all of which have differentiated solutions and business models 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 tech and biomaterials, as well as new barrier tech, 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 company 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.
“It is exciting to see the number of variety of start-ups who answered our call for innovative projects,” said Frank Lehmann, vice-president of corporate venturing and open innovation at Amcor.
“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, which will help our industry move toward a more circular economy.”
The Amcor Lift-Off program joins the company’s other key investments, such as the addition of two new innovation centres in Asia and Europe, and its partnership with Michigan State University’s School of Packaging, which 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.
