🔉 In conversation with our first set of Amcor Lift-Off winners

In the first of a two-part Q&A series, Frank Lehmann, Vice President Corporate Venturing and Open Innovation at Amcor, sat down with Remy Buser, Co-Founder and CEO at Bloom Biorenewables, and Chee Hau Teoh, Co-Founder and CEO at Nfinite Nanotechnology, to discuss their recent success in securing seed funding from Amcor Lift-Off.

Frank Lehmann (FL): Amcor Lift-Off is our program to fund new start-ups with US $250,000 of seed money which start-ups can access through a pitch exercise, and we’re excited to have with us our two winners today. So let’s start – tell me more about your companies:

Remy Buser (RB): At Bloom Biorenewables we convert biomass to chemicals and the purpose is really to fade out fossil resources in materials in the long-run, and what we’ve developed is a new technique to valorise under-utilised fractions to added value chemicals. We were founded in 2019 and are now a team of 15 bringing this technology to the market from Lausanne.

Chee Hau Teoh (CHT): At Nfinite Nanotechnology we aim to save the planet by making all the packaging in the world compostable and recyclable using our nano-coating technology. We’re currently a team of 10, a lean but mighty team to take on this big challenge! Our venture is a spin-off from the University of Waterloo and we’ve now decided to collaborate with industrial leaders like Amcor to take on this big challenge.

FL: What were your initial thoughts when you found out about Amcor Lift-Off?

CHT: When we first found out about the program it was very exciting as we wanted to work with industrial leaders like Amcor. It was a great opportunity to collaborate and understand Amcor’s vision and current challenges. It also gave us first-hand market validation of our solutions.

FL: Yes, and this is an excitement we share with you – this is why you were the first winners of our Lift-Off program. We want to attract more start-ups to pitch for Lift-Off funding. Tell us more about the application process.

RB: The application process was very smooth. It was a classical application program where you can upload your details and answers to specific questions. This is a very appreciated tool for start-ups applying for funding programs. We found out about the program through our network so it’s really important start-ups look at the what the partners they wish to work with are actually providing as opportunities for further interaction. This is how Amcor stood out to us and we were able to identify Lift-Off as suitable to our stage of development.

CHT: The application was smooth thanks to Rebecca and yourself, Frank, guiding us through the process and helping us to hone our messaging and understand the particular challenges companies are having. We also had the opportunity to interact with the research and development team to strengthen our application process.

FL: You were both selected as finalists and ultimately you won! What tips would you give to the next cohort of applicants?

RB: The most important thing is preparation. Putting yourself in the shoes of Amcor but specifically the person you’d like to work with and the problems they’re trying to solve at the moment, while illustrating the synergies that could be achieved in the best way possible. In-house, you need to be extremely prepared with your pitch, and this only comes from pitching, pitching, pitching. This is really the core of the training you can do to best show and present your data. Then, you need the magic of the moment to convince the panel once you’re on stage, so you need self-confidence and confidence that your solution is going to lead the way in innovation.

CHT: It took two weeks to prepare. It’s a once in a lifetime opportunity to speak with industry leaders like this so the pitch process was intense but very rewarding. They also provided advice and feedback on how we can align our roadmaps and visions for the future with Amcor’s.

FL: I remember your pitches very well. They were very well prepared and best in class. Now you’ve won, what will you with the money you’ve gained from Amcor?

RB: The investment will really go to collaborative work we aim to do with Amcor. We have a range of specific materials that we believe are the future of packaging and we’d like to look at how we can, together with Amcor, bring these materials as fast as possible to commercialization. So the money will accelerate the scale-up of these materials and allow resources to actively engage with Amcor’s teams on the development side. We want to co-develop products containing these materials.

CHT: The seed funding from Amcor will further accelerate our path to commercialization. Together with our research and development team, our goal is to speed-up product development and customer development to ensure we can refine our product for the initial pilot launch we aim to do with Amcor in the next two years.

Find Part 2 of this Q&A here to read Frank’s discussion with Remy and Chee about the Amcor Lift-Off seed funding program. Find more information on Amcor Lift-Off and Amcor’s corporate venturing work here.