US venture fund lines up materials and packaging sectors in new innovation platform
US venture fund Plug and Play has launched a new innovation platform, New Materials and Packaging, to facilitate the growth of breakthrough materials and packaging technologies.
Plug and Play brings together the entire industry – from resin suppliers, transformers, CPGs and retailers, such as ExxonMobil, Bemis, WestRock, Henkel and Clorox, to identify breakthrough ideas and accelerate their implementation across the value chain.
"It's been a true eye opener to me in terms of the role that Plug and Play has played in helping connect various value chain partners across specific industries to accelerate innovation. That is critical, especially as you look at the plastics industry, specifically with a focus on packaging," said Hari Reddy, Vice President of Technology and Innovation at Bemis Company.
The focus of this program is centered around the following areas: materials substitutes, improved attributes (stiffness, melt strength, sealability), intelligent packaging and sustainability. The startups will pitch their polished ideas to corporate partners and investors at Plug and Play's New Materials, Retail and FinTech EXPO, which kicks off on May 25.
"The New Materials & Packaging program is laying the foundation for something that’s truly going to change the future of packaging. Our model has really proved itself time and time again in each of our verticals [Brand & Retail, FinTech & Security, IoT, Media & Mobile, Travel & Hospitality and Health & Wellness] and this validation has allowed us to replicate the model in the Packaging and Plastics industry," said Michael Olmstead, VP Corporate Partnerships at Plug and Play.
