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
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 Related Stocks: Australia:AMC NYSE:AMCR