Avery Dennison today launched AD Stretch, the first labels and packaging industry programme globally to partner with startup innovators to solve key challenges around sustainability, customer experience and value chains, a company statement said.
Starting today, the company intends to engage with startups in the region and across the world to disrupt and evolve the labels and packaging industry and strengthen its innovation capabilities. The aim is to address some of the industry’s most urgent business challenges by collaborating with promising startups in Asia Pacific allying them to Avery Dennison’s experience and size so both can grow, the statement added.
“From our first day in business nearly ninety years ago, Avery Dennison has a long and proud heritage as an innovator,” said Anil Sharma, Vice President and General Manager, Labels and Graphic Materials Asia-Pacific, Avery Dennison, in the statement.
He also said, “AD Stretch will help us stay on the cutting edge of innovation by reaching out to the brightest talent and startups, working together to realise shared goals and value and solve the key challenges of the next decade.”
The programme will be launched globally, starting in Asia Pacific and Latin America, then rolling out in Europe and the US later this year. With the end goal of solving a particular problem, each group of startups will have a region-specific brief that draws on regional challenges, the statement further said.
It noted that the core themes will focus on connecting consumers to brands through new experiences; creating sustainable, responsible and efficient value chains (SRE); and the development of materials and packaging 2.0. Specifically, within Asia Pacific, the areas the AD Stretch teams will focus on include solutions that help brands connect with end users more effectively, new biodegradable labelling and packaging products and materials, and solutions that help perishables survive the last leg of the supply chain in emerging economies.
The programme, in partnership with venture studio Highline Beta, aims to attract the best and brightest startups and innovators. Following a period of review and consultation, the applicants will be narrowed down to 10 finalists that will go on to execute a pilot project, concluded the statement.,