Amcor Offers Seed Funding for Innovative Startups
Global packaging producer Amcor is taking on a new role as a venture capitalist to support sustainable technologies and other innovations.
Amcor’s new Lift-Off initiative supplements its internal network of innovation centers in Manchester, Mich.; Neenah, Wis. (shown); China, Belgium and smaller sites around the world. (Photo: Amcor)
“Amcor Lift-Off” is a new project launched by global packaging producer Amcor to support seed-stage startup companies that are focused on innovative packaging solutions and related technologies. An “open call” for applications ends May 15, after which Amcor will screen the applicants and select up to 20 startups for a first call to pitch their ideas. Ultimately, five finalists could receive $250,000 in the form of a convertible loan, as well as Amcor support and resources to refine their products, built partnerships and scale across geographies. Frank Lehmann, Amcor v.p. for corporate venturing and open innovation, described this as a first step toward “establishing an ecosystem of startups to complement and amplify Amcor’s growth agenda.”
Amcor is looking specifically to invest in innovations in six strategic areas: recycling systems, alternative barriers, paper-based solutions, smart and connected packaging, biomaterials and new industry business models. Incorporated companies from around the world can apply for free.
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