Avery Dennison launches Cohort 03, an expansion of the program to incorporate new challenges and a global rollout to the rapidly maturing AD Stretch Accelerator. Cohort 03 focuses on his three challenge areas: developing next-generation energy storage materials, maximizing the consumer experience, and improving sustainability. The program welcomes startups from around the world to collaborate on specific business challenges.
AD Stretch is a pilot-based accelerator program for startups with proven sales and go-to-market experience, innovation capabilities, and the vitality to engage with Fortune 500 company Avery Dennison. The accelerator aims to bring together Avery Dennison’s financial, research and development, and vast technology resources with startups to create impactful solutions.
Hear from Melissa Tse and Lemuel Lim from Avery Dennison’s Corporate Venture Capital team
We spoke with Melissa Tse, Head of Venture Investments at Avery Dennison, and Lemuel Lim, Venture Associate at Avery Dennison Venture Investments, about AD Stretch Cohort 03. Read about how AD Stretch Accelerator works and consider how it works with AD Stretch Accelerator. Let our corporate venture capital team grow your business.
Application submissions for AD Stretch close on November 17th, but could you introduce us to Avery Dennison’s Corporate Venture Capital team and its role within the organization?
Our Corporate Venture Capital team works with startups, investors, corporations, and other ecosystem partners to help Fortune 500 companies leverage their scale and capabilities to accelerate new innovations that address critical global needs. I will cooperate with you when I have the opportunity to do so.
The team is focused on fostering strategic relationships that advance company-wide objectives through partnerships and investments, many of which are focused on this third group of AD stretches.
How will corporate venture capital teams collaborate and drive value with the upcoming third cohort of AD Stretch Program participants?
The Ventures team has a unique role in fostering symbiotic innovation between stakeholders external to the ecosystem and internal to the company, so we understand the market’s disruptive trends and the sentiment of other companies, investors, and startups. provide insight.
That information allows startups to make the most informed decisions possible while considering their growth trajectory. As these program participants consider their next stage of growth and seek external funding, we have the resources to guide them through the funding process.
In collaboration with innovation departments such as AD Stretch and Ventures, Avery Dennison supports program participants through multiple stages of the lifecycle.
With three different themes spanning energy storage materials, customer experience, and sustainable packaging, why is AD focused on these diverse challenges?
Today, Avery Dennison is a global company that develops products and technologies that people use every day. But innovation is about addressing tomorrow’s ever-evolving needs.
Materials science is in our DNA, and as global energy needs become more complex and safety and sustainability are as important as performance, we are using our technology and scale to address these value propositions. We are in a unique position to promote this.
As our daily lives become increasingly digital, technologies are emerging that allow us to bridge the physical and digital worlds. We can make not only products, but also products with connections. In doing so, the data we collect can impact how we optimize supply chains, promote sustainability, and enable brands to deliver more personalized experiences to consumers. I can.
AD Can you tell us more about a typical day during the pilot phase of Stretch Accelerator?
Our pilots at AD Stretch are really diverse in terms of how we work with startups. For some companies, we support research and development and accelerate the product development process. For other companies, we enable the testing and commercialization of products in collaboration with customers and other ecosystem partners.
We focus on what’s most valuable for each AD Stretch startup and figure out the right structure and framework to execute that vision.
Want to share fond memories from your previous AD Stretch groups with potential applicants?
One of the highlights for me was (Melissa Tse)’s AD stretch program includes one of its recent pilots with Moree.
Moree is our second group of companies to develop reusable packaging solutions to replace single-use plastic bags and films. We had the pleasure of introducing Moree to The Modern Milkman, one of his companies in the venture capital portfolio that brings farm fresh produce to consumers in sustainable packaging.
Together, The Modern Milkman, Moree, and Avery Dennison were able to test and pilot Moree’s solution with The Modern Milkman’s customers. Finding highly strategic opportunities like this is always great, especially when everyone at the table is passionate about working and collaborating together. (See Moree case study below)
Do you have a personal message you would like to share with innovative companies who are considering applying?
I(Lemuel Rim) I have sat across from and worked with entrepreneurs throughout my career. We are extremely grateful to have played a small role in fostering innovation within the ecosystem.
Supporting AD Stretch was a highlight of my time with Avery Dennison, largely due to the amazing entrepreneurs we interact with and the possibilities we explore together. . I respect Avery Dennison today, but I also recognize that we were once a startup. Looking back to our roots, our humble beginnings in 1935 were defined by one bright idea. Luckily for us, Stan Avery’s idea stuck (I’m not kidding!).
At AD Stretch, we tell our history, support entrepreneurs with humble beginnings, and take great ideas and turn them into something more. This third group of AD Stretch is in the same spirit, building great solutions that have a lasting impact. We hope that everyone will be a part of this.
Key deadlines and program timelines
The application deadline is approaching! Hurry and submit your application by November 17, 2023.
- Startup selection: January 2024
- pilot phase:January to August 2024
- demo day:September 2024
Why join AD Stretch Cohort 3?
AD Stretch partners with entrepreneurs in a variety of ways, including minority equity investments, co-development agreements, non-recurring engineering projects, reseller relationships, and other forms of strategic technical and commercial partnerships. . Check out all the benefits of joining the program:
- pilot funding: A unique opportunity to try out a paid pilot project.
- rapid growth: Expand your customer base and scale up with a globally recognized leader.
- Mastering material science: Leverage Avery Dennison’s extensive experience in materials science leadership to revolutionize your products and solutions.
- global network: Access a unique network of industry experts and mentors who can turn your startup into a global phenomenon.
- demo day: Showcase your progress to industry partners, investors, and media at the highly anticipated AD Stretch Demo Day.
Please note that AD Stretch has not acquired any capital. The pilot will be funded as agreed between you and the program leader. The program provides network, support, and guidance, and AD Stretch makes introductions to help you reach your funding and scale goals.
AD stretch boasts a rich track record
In just 18 months, the AD Stretch Accelerator Program has grown from a launch phase to a thriving program that has accepted over 500 applications from over 35 countries and created pilot programs for 14 startups. Read more about two pilot examples from previous AD Stretch cohorts.
Cellr unlocks the potential of consumer engagement
Cellr develops cutting-edge consumer engagement platforms. By leveraging Avery Dennison’s digital identity technology, brand owners now have an easy-to-use solution to enhance their strategies and connect with consumers. Consumer engagement tools reimagine connected and updatable packaging, personalized interactions, and access to data-driven insights to enable smarter strategic decisions.
Moree helps food brands eliminate single-use packaging
Moree offers brands pay-as-you-go, easy-to-return flat-pack packaging through a reusable packaging system. Enabling a reuse model with digital rewards for customers. The startup makes it easy for food companies to switch to reusable packaging with its innovative Reusable Packaging as a Service. Moree also tracks inventory, orders, and environmental savings through the platform. Along with Avery Dennison, Molly will help brands take big steps towards zero waste while encouraging more sustainable lifestyles.
Are you ready to join AD Stretch and unlock your innovative business potential?
Apply here and hurry! Applications close on November 17, 2023.
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