Avery Dennison Announces Second Cohort of Startups in Its AD Stretch Accelerator Program
The company selected five startups to tackle packaging industry
challenges in North America and EMENA.
MENTOR, OHIO, May 25, 2023 – Avery Dennison Corporation (NYSE:AVY) has selected five startups for Cohort 02 of the AD Stretch Accelerator Program. AD Stretch tackles crucial challenges in the labels and packaging industry, including connected packaging, materials innovation and sustainability. The program, run in partnership with accelerator builder-operator Highline Beta, received over 300 applications from startups worldwide.
Following the success of the inaugural cohort, AD Stretch Cohort 02 will deliver a unique pilot-based accelerator program that encourages collaboration, planning, execution, and analysis with a select group of startups over a condensed six-month period, running pilots in North America and EMENA.
"The five startups will bring unique approaches and solutions to our challenges and fresh perspectives to our industry,” said Jeroen Diderich, senior vice president and general manager Avery Dennison Materials Group North America. “Together, we will drive innovation and sustainability globally."
Avery Dennison chose these startups for their potential to evolve the label and packaging industry. Other criteria included their experience in bringing products to market, generating sales and ability to partner with a Fortune 500 industry-leader.
The startups are:
BeFC: the startup’s paper biofuel cells use enzymes to convert glucose and oxygen into electricity - a sustainable alternative to traditional miniature batteries. The expertise of Avery Dennison combined with BeFC's printable and flexible bio-batteries will empower the next generation of logistics, medical devices, health wearables and environmental devices.
Moree: Moree makes it easy for food companies to switch to reusable packaging with their innovative Reusable Packaging as a Service. They offer reusable pouches, easy returns and digital rewards for customers, all while tracking inventory, orders and environmental savings through their SaaS platform. Together with Avery Dennison, Moree will help brands take a big step towards zero waste, while encouraging more sustainable lifestyles.
Peafowl Plasmonics: the startup’s light harvesting cell can invisibly power any conductive surface, including transparent ones, revolutionizing electronic devices. With their expertise in plasmonics, nanomaterials and solar capture, Peafowl Plasmonics will join Avery Dennison on a journey towards sustainable energy.
Puro Renewables: Avery Dennison and Puro Renewables will collaborate 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: Stemly automates forecasting and optimizes supply chain, finance and sustainability decisions. Together with Avery Dennison, and with an AI-powered platform and diverse dataset management, Stemly delivers fast implementation and accurate forecasts, enabling executives to make better and more interconnected decisions across the company.
“Avery Dennison aims to foster a startup mentality of agility and innovation throughout the organization by collaborating with startups, accelerators and investors,” said Steve Flannery, senior vice president and general manager Avery Dennison Materials Group EMENA. This strategy will create win-win outcomes for everyone involved. “Our partnering will positively impact our industry and the world."
More about the AD Stretch Accelerator Program can be found at ADStretch.com.
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides branding and information labelling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and a variety of converted products and solutions. The company designs and manufactures a wide range of labelling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers’ product performance. The company serves an array of industries worldwide, including home and personal care, apparel, e-commerce, logistics, food and grocery, pharmaceuticals and automotive. The company employs approximately 36,000 employees in more than 50 countries. Reported sales in 2022 were $9.0 billion. Learn more at www.averydennison.com.