Avery Dennison Launches Cohort 03 of Its Global AD Stretch Accelerator Program
Avery Dennison Corporation announced the launch of Cohort 03, a program expansion that incorporates new challenges and a global reach to the rapidly maturing AD Stretch accelerator. Cohort 03 will focus on three challenge areas: the development of next-generation energy storage materials, maximizing consumer experiences and improving sustainability. The program welcomes startups from across the globe to collaborate in tackling tangible business issues.
AD Stretch offers nondilutive pilot-based accelerator programs to startups with proven sales and go-to-market experience, the ability to innovate and the vitality to engage with Fortune 500 company Avery Dennison. The accelerator aims to unite the financial, R&D and vast technical resources of Avery Dennison with startups to create impactful solutions.
According to Shruti George, vice president, strategic innovation platforms, Avery Dennison Materials Group, AD Stretch Cohort 03 builds on the foundation and achievements of past program cohorts while looking to the future for program growth and expansion. “The synergy of our company’s technical knowledge, business experience and mature distribution network matched with the uninhibited instincts of startups to innovate creates a dynamo for generating new solutions and successfully bringing them to market,” she says.
“With Cohort 03’s global reach, look for AD Stretch to have a worldwide influence on customer engagement, sustainability and materials innovation.”
New AD Stretch challenges
Cohort 3 presents accelerator startups with new challenges that center on next-generation storage materials, consumer experience and sustainability.
Startups selected to face storage materials challenges will be tasked with improving the performance of batteries through materials that can increase energy density, efficiency and safety. Material challenges also include ways to contain energy storage technology costs, in part by combining material properties like insulation and flame retardancy.
AD Stretch applicants applying to maximize the consumer experience will need the expertise to harness digital retail technology and have the knowledge and ability to enable product customization at the point of sale. AD Stretch will also welcome startups that can help apparel and footwear brands authenticate products and engage consumers.
Sustainability is a core Avery Dennison value. The company is looking for startups to solve challenges via reverse logistics, packaging traceability, the reuse of big data AI and process automation, and end of product life management and recycling.
Program results
In just 18 months, the AD Stretch accelerator program has grown from launch mode to a thriving program that’s fielded over 500 applications from over 35 countries and created pilot programs for 14 startup businesses. Startups can apply for acceptance to AD Stretch Cohort 03 from September 5 to November 27, 2023.
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Packaging Impressions.
