ZURICH, May 4, 2023 - Amcor (NYSE:AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, announced it has launched an Amcor Lift-Off session dedicated to Michigan State University (MSU) with the support of the MSU Research Foundation and its network. The program offers an opportunity for early-stage start-ups from MSU and its wider network to win up to $250,000 in seed funding. Additionally, through collaboration with the MSU's Burgess Institute for Entrepreneurship and Innovation, MSU student teams will compete for a grant of up to $10,000. This initiative follows the April 20 opening of the newly renovated MSU School of Packaging building, a program Amcor supported with a $10 million investment that included the establishment of an Endowed Chair of Packaging Sustainability.
Start-ups and student teams who participate in the Lift-Off program are invited to present their ideas within one of six focus areas: alternative barriers; smart and connected packaging; new business models; biomaterials; fiber; and recycling. Up to eight start-ups and student projects will then be shortlisted to present their innovations to a team of Amcor leaders in a pitch event at MSU on Nov. 2, 2023. Winners may have additional investment opportunities from Red Cedar Ventures and Michigan Rise - subsidiaries of the MSU Research Foundation - that could provide greater access to seed funding.
Entries will be assessed on the merit of their technology, business model, and scalability, as well as how well they fit within Amcor's existing operations. Winning start-ups will have an opportunity to take their packaging innovations to the next level through a combination of funding, access to Amcor's world-class research and development teams, and inclusion in the MSU Research Foundation entrepreneurial ecosystem in Michigan.
Amcor's Vice President of Corporate Venturing and Open Innovation, Frank Lehmann, said, "Since its inception a year ago, the Amcor Lift-Off program has led to several key partnerships with early-stage start-ups in the packaging space. Our collaborative approach is helping pave the way for the next generation of innovators, and we're excited to see ground-breaking ideas from the teams at MSU."
"We're thrilled to collaborate with Amcor on this Lift-Off program to provide MSU start-ups, student teams, and local businesses with access to funding and resources to advance their packaging innovations," said Dr. Brad Fingland, Director of Venture Creation at the MSU Research Foundation's Spartan Innovations. "This initiative aligns with our mission to foster innovation and entrepreneurship while creating economic opportunities for the state of Michigan."
Learn more about Amcor's Lift-Off session with MSU, Amcor's Lift-Off program, Amcor's corporate venturing, the MSU Research Foundation, and the MSU School of Packaging.
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
About Michigan State University
Established in 1855, Michigan State University (MSU) is the United States' premier land-grant university and one of the top research universities in the world. The MSU School of Packaging, established in 1952, was the first school of packaging in the United States and now is the largest packaging program in the country, with over 600 undergraduate and graduate students. Housed within the College of Agriculture and Natural Resources, the School of Packaging consistently earns top rankings in its field across a wide range of rating platforms. It is the only school that offers a Ph.D. program in packaging and boasts 10,000 alumni worldwide.
About Michigan State University Research Foundation
The Michigan State University (MSU) Research Foundation was established in 1973 as an independent non-profit committed to the commercialization of cutting-edge technologies invented by MSU faculty, staff, and students. Today, the MSU Research Foundation is focused on enhancing research, encouraging innovation and entrepreneurship, and facilitating economic growth at MSU and across the state through its subsidiary organizations; Spartan Innovations, Red Cedar Ventures, Michigan Rise Pre-Seed Fund III, and select real estate holdings.
