Avery Dennison Corporation has chosen five startups for the second iteration of their Stretch Accelerator Program. The program, a crucial step in tackling challenges in the labels and packaging industry such as connected packaging, materials innovation and sustainability, is run with Highline Beta, an accelerator builder-operator. They received more than 300 applications from startups all over the world.
Success from the first cohort paved the way for Stretch Cohort 2. The unique pilot-based program encourages collaboration, planning, execution and analysis with a select group of startups. Over a condensed six-month period, the program will run pilots in North America and Emena.
Jeroen Diderich, senior vice president and general manager at Avery Dennison Materials Group North America, said, 'The five startups will bring unique approaches and solutions to our challenges and fresh perspectives to our industry. Together, we will drive innovation and sustainability globally.'
Avery Dennison carefully selected these startups for their potential to transform the label and packaging industry. The selection was based on multiple factors, including their experience in bringing products to market, generating sales and ability to partner with an industry leader such as Avery Dennison.
The chosen startups are BeFC, Moree, Peafowl Plasmonics, Puro Renewables and Stemly.
BeFC's paper biofuel cells use enzymes to convert glucose and oxygen into electricity. It is a sustainable alternative to traditional miniature batteries. With Avery Dennison's expertise and BeFC's printable and flexible bio-batteries, they aim to empower the next generation of logistics, medical devices, health wearables and environmental devices.
Moree helps food companies switch to reusable packaging with their innovative 'reusable packaging as a service'. Offering reusable pouches, easy returns and digital rewards for customers while tracking inventory, orders and environmental savings through their SaaS platform. They plan to work with Avery Dennison to help brands take a major step towards zero waste and encourage more sustainable lifestyles.
Peafowl Plasmonics can invisibly power any conductive surface, including transparent ones. This innovation could revolutionize electronic devices. They plan to join Avery Dennison on a journey toward sustainable energy with their expertise in plasmonics, nanomaterials and solar capture.
Avery Dennison and Puro Renewables are on a mission to eliminate the long-term impact of plastic waste. Puro Renewables transforms plastic product manufacturing by utilizing carbon-negative, bio-renewable biowaste materials. They help major manufacturers and brands create desirable products while reducing reliance on fossil fuels, decreasing their carbon footprint.
Stemly automates forecasting and optimizes supply chain, finance and sustainability decisions. In collaboration with Avery Dennison, they aim to deliver fast implementation and accurate forecasts with their AI-powered platform and diverse dataset management. This will enable executives to make better and more interconnected decisions across the company.
Steve Flannery, senior vice president and general manager at Avery Dennison Materials Group Emena, said, 'Avery Dennison aims to foster a startup mentality of agility and innovation throughout the organization by collaborating with startups, accelerators and investors.' This strategy aims to create win-win outcomes for all parties involved. He added, 'Our partnering will positively impact our industry and the world.'
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