Innovative startups offered seed funding
– Amcor, who develop and produce responsible packaging solutions, announced the launch of Amcor Lift-Off, an open-call initiative aimed at supporting seed stage startups that are focused on innovative packaging solutions and related technologies. Amcor Lift-Off offers these startups a chance to secure an investment of $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 (anything after this will be considered for a second Amcor Lift-Off event in November 2022)
- Applicants will then be screened and shortlisted, with up to 20 startups invited for a first call to pitch their ideas
- Five final startups 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 digitisation for the packaging industry. We look forward to establishing an ecosystem of startups 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.