Avery Dennison invests in circular startups
Avery Dennison has selected five startups for Cohort 02 of the AD Stretch Accelerator Programme.
AD Stretch aims to tackle crucial challenges in the labels and packaging industry, including connected packaging, materials innovation and sustainability. The programme, run in partnership with accelerator builder-operator Highline Beta, received over 300 applications from startups worldwide.
Following the success of the inaugural cohort, the company claims that the AD Stretch Cohort 02 will deliver a unique pilot-based accelerator program that encourages collaboration, planning, execution, and analysis with a select group of startups over a condensed six-month period, running pilots in North America and EMENA.
"The five startups will bring unique approaches and solutions to our challenges and fresh perspectives to our industry,” said Jeroen Diderich, senior vice president and general manager Avery Dennison Materials Group North America. “Together, we will drive innovation and sustainability globally."
Avery Dennison claims it chose these startups for their potential to evolve the label and packaging industry. Other criteria included their experience in bringing products to market, generating sales and ability to partner with a Fortune 500 industry-leader.
The startups are:
BeFC: the startup’s paper biofuel cells use enzymes to convert glucose and oxygen into electricity - a sustainable alternative to traditional miniature batteries.
Moree: Moree aims to make it easy for food companies to switch to reusable packaging with their innovative Reusable Packaging as a Service. They offer reusable pouches, easy returns and digital rewards for customers, all while tracking inventory, orders and environmental savings through their SaaS platform.
Peafowl Plasmonics: the startup’s light harvesting cell can invisibly power any conductive surface, including transparent ones. With their expertise in plasmonics, nanomaterials and solar capture, Peafowl Plasmonics will join Avery Dennison ‘on a journey towards sustainable energy.’
Puro Renewables: Avery Dennison and Puro Renewables will collaborate on a mission to eliminate the long-term impact of plastic waste.
Stemly: Stemly automates forecasting and optimises supply chain, finance and sustainability decisions.
“Avery Dennison aims to foster a startup mentality of agility and innovation throughout the organisation by collaborating with startups, accelerators and investors,” said Steve Flannery, senior vice president and general manager Avery Dennison Materials Group EMENA. This strategy will create win-win outcomes for everyone involved. “Our partnering will positively impact our industry and the world."