U.S.-based Avery Dennison is aiming to work with startups in China and across Asia in a new startup business accelerator program for companies that are addressing sustainability and value chain challenges in packaging and labeling.
The company is working in partnership with Highline Beta to launch what they call "AD Stretch", a non-dilutive pilot accelerator program that focuses on solving complex industry problems through global funded pilots with startups.
"Complementing our industry-leading internal capabilities and our corporate venture program, AD Stretch will play a critical role in our overall innovation approach and extend our circle of innovators," says Pascale Wautelet, global vice president for research and development at Avery Dennison. "We're stretching beyond borders and boundaries, and increasing the pool of industry talent we work with to create a collective global problem-solving culture that inspires everyone it touches and generates real value for our stakeholders and society."
Solutions offered by prospective accelerator businesses must fit into at least one of AD's 6 challenge areas including connecting consumers to brands through new experiences; less is more for consumers and brands; sustainable labeling and packaging; improving food waste sustainability through labeling and packaging; trusted and connected labeling and packaging; and the future of packaging and delivery.
"We are excited about the opportunity to co-create this incredible accelerator program with Avery Dennison to enable startups across the globe with unmatched commercial pilot opportunities. Having such win:win opportunities, to partner with a world-class materials science leader, solve real industry challenges and accelerate time to market, is a truly unique opportunity for entrepreneurs and innovators across the global startup ecosystem," says Hussam Ayyad, chief accelerator officer at Highline Beta.
Avery Dennison is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. Headquartered in Glendale, California, the company employs more than 35,000 employees in more than 50 countries, and it reported sales in 2021 of US$8.4 billion.