Amcor launches new open-call initiatives: Amcor Lift-Off Sprints and Amcor Lift-Off Connect
Rhea-AI Summary
Amcor (NYSE: AMCR) has launched two new open-call initiatives: Amcor Lift-Off Sprints and Amcor Lift-Off Connect. The Sprints program offers funding up to $500,000 for technical collaborations with start-ups addressing R&D challenges, with two annual sessions starting early 2025. The Connect program focuses on strategic partnerships beyond R&D, with its first session on AI in manufacturing scheduled for December 4. Amcor is committing up to $3 million annually for these partnership activities, building on previous successes with start-ups in AI-powered waste recognition, reusable packaging, sustainable coatings, and bio-based PET.
Positive
- Commitment of up to $3 million annual investment in innovation partnerships
- Strategic expansion into AI and advanced manufacturing technologies
- Structured program for R&D development with direct funding up to $500,000 per project
Negative
- None.
News Market Reaction – AMCR
In the trading session that priced this news, AMCR declined 1.16%, reflecting a mild negative market reaction.
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Amcor Lift-Off Sprints is designed to foster technical collaborations with start-ups whose solutions address specific R&D challenges. Successful start-ups will enter a joint development agreement with Amcor's R&D team and receive funding of up to
Amcor Lift-Off Connect aims to form strategic partnerships and pilots with start-ups that address challenges beyond R&D. While similar in approach to the "Sprints" edition, its goal is to nurture collaborations that could lead to further investments. The first session on Dec. 4 will focus on AI in manufacturing and R&D. Future sessions of Amcor Lift-Off Connect will be announced next year, with the aim of conducting two sessions per year.
Through these programs, Amcor seeks to continually advance open innovation and collaboration with early-stage start-ups, expanding joint development partnerships in new areas like AI. Amcor is committed to investing up to
Frank Lehmann, vice president of Corporate Venturing and Open Innovation at Amcor, 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." He added, "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."
Applications for next year's Amcor Lift-Off Sprints and Connect sessions can be submitted in December. Learn more about Amcor's Lift-Off program and corporate venturing.
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated
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SOURCE Amcor