Packaging solutions provider Amcor has launched two new components of its Amcor Lift-Off initiative, including Amcor Lift-Off Sprints and Amcor Lift-Off Connect.
These programmes are intended to deepen the company's engagement with start-ups and emerging technologies in the packaging sector.
Amcor Lift-Off Sprints is designed to encourage technical collaborations that address specific research and development challenges.
Start-ups that are successful in their application will enter into joint development agreements with Amcor's research and development (R&D) team and could receive funding up to $500,000.
The first session of the Amcor Lift-Off Sprints is slated for early 2025, with further details expected early next year.
Amcor aims to conduct two sessions of the Sprints annually.
Amcor Corporate Venturing and Open Innovation vice president Frank Lehmann said: “We are excited to expand our already successful Amcor Lift-Off initiative, and further energize the packaging industry by elevating these cutting-edge technologies.
“This is an important opportunity to work alongside our customers to provide them with the most innovative solutions available to tackle today’s packaging challenges.”
On the other hand, Amcor Lift-Off Connect is set to form strategic partnerships and pilot projects with start-ups tackling broader challenges beyond R&D.
The first session, scheduled for 4 December this year, will concentrate on the application of artificial intelligence in manufacturing and R&D.
Amcor intends to host two sessions of Lift-Off Connect each year, with more information to be announced in the following year.
Through these initiatives, Amcor stated that it is reinforcing its commitment to open innovation by investing up to $3m annually in these partnerships, which includes direct investments and in-kind R&D support.
The goal is to foster collaborative relationships between Amcor and start-ups, as well as to engage customers in potential three-way collaboration agreements.
Recently, Amcor reported a 3% drop in Q1 FY25 net sales to $3.35bn from $3.44bn in Q1 FY24.
