Amcor Launches New AI-Focused Open Innovation Initiatives: Lift-Off Sprints and Connect

Amcor Expands Open Innovation with New Initiatives

Amcor, a global leader in responsible packaging solutions, has announced the launch of two new open-call initiatives: Amcor Lift-Off Sprints and Amcor Lift-Off Connect. These programs aim to deepen the company's focus on research and development (R&D) opportunities and key emerging technologies, with a particular emphasis on artificial intelligence (AI) applications 1

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Amcor Lift-Off Sprints: Fostering Technical Collaborations

Amcor Lift-Off Sprints is designed to foster technical collaborations with start-ups addressing specific R&D challenges. Successful applicants will enter into joint development agreements with Amcor's R&D team and receive funding of up to $500,000. The first session is scheduled for early 2025, with plans to hold two sessions annually 1

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Amcor Lift-Off Connect: Strategic Partnerships Beyond R&D

Amcor Lift-Off Connect aims to form strategic partnerships and pilots with start-ups addressing challenges beyond R&D. The program's goal is to nurture collaborations that could lead to further investments. The inaugural session, focusing on AI in manufacturing and R&D, is set for December 4, 2024 2

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Building on Past Successes

These new initiatives build upon Amcor's previous successes with innovative start-ups, including:

1. Greyparrot's AI-powered waste recognition system
2. Circolution's reusable packaging
3. Nfinite Nanotechnology's sustainable coatings
4. Bloom Biorenewables' bio-based polyethylene terephthalate (PET) 1

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Investment and Collaboration

Amcor has committed to investing up to $3 million annually in these partnership activities, including direct investments and in-kind R&D support. The company aims to encourage collaboration between Amcor, its customers, and the winning start-ups, exploring opportunities for three-way collaboration agreements 1

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Industry Impact and Future Outlook

Frank Lehmann, Vice President of Corporate Venturing and Open Innovation at Amcor, expressed enthusiasm about the expansion of the Amcor Lift-Off initiative, stating, "We are excited to expand our already successful Amcor Lift-Off initiative, and further energize the packaging industry by elevating these cutting-edge technologies" 2

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The new programs are expected to advance open innovation and collaboration with early-stage start-ups, particularly in emerging areas like AI. Applications for next year's Amcor Lift-Off Sprints and Connect sessions will be open for submission in December 2024 1

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About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions for various industries, including food, beverage, pharmaceutical, and personal care. With operations spanning 212 locations in 40 countries, Amcor generated $13.6 billion in annual sales in fiscal year 2024. The company focuses on creating packaging that is increasingly recyclable, reusable, lightweight, and made using an increasing amount of recycled content 1

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