About AD Stretch
What is a Business Challenge and how is it different from the main cohort?
At Avery Dennison, we strive to tackle the pressing business challenges or seize opportunities identified by our business units through AD Stretch Business Challenges. These challenges may either form part of a continuous cohort or be launched independently.
We have introduced our first business challenge, designed to create a better digital consumer experience with physical products.
As the year progresses we will continue to introduce more business challenges as per the business unit requirements.
Why is Avery Dennison running the AD Stretch Program?
We are looking to pair with early-stage startups (pre-seed to series C) that can answer clear business problems and fit our strategic profile, expand our innovation network, and generally just do amazing, groundbreaking things together.
Will all of the challenges be open to everyone? Or are they specific to regions?
For our challenges, we recruit startups globally, however, the pilots might be restricted to a certain region depending on the challenge, and this would be mentioned in our communication.
Currently, we have one new business challenge, which is open to applications from all regions, and the pilot region will be decided based on the selection of the technology.
Applications
Who should apply? Are there restrictions on the type or size of company that can apply?
We are looking to work with startups (pre-seed to series C), that are already in the market or have sales traction in the market. Earlier-stage companies may apply but will be considered on a case-by-case basis.
How are startups selected for the AD Stretch Program?
For our main cohorts, we aim to select approximately 30 companies and select a final shortlist of 6 to 10 startups via three selection phases. The timeline for the process is here.
For the Business Challenge, the selection process is completely dependent on application quality and which startups are best fit to address the challenge within the timeline.
When will I know if I have been successful?
For our main cohorts, the recruitment process is normally 3-4 months, with consecutive interviews that take an average of 2 months. Please check our timeline on the website for Cohort and Business Challenge-specific dates.
Currently, we have selected cohort 03 startups, and finalists will be announced in May, 2024. For the new Business Challenge, startups will also be selected and announced by May 2024 and integrated into cohort 03 of the program.
My startup does not fit the challenge areas, but I am working on something I think Avery Dennison would be interested in, can I still apply?
Please contact the AD Stretch Accelerator team, at ADStretch@averydennison.com, and we will consider these inquiries on a case-by-case basis.
Format
What is the time commitment?
The program is designed with founders in mind. Our cohorts are designed to be a virtual program and the time commitment would require a minimum of 2-3 hours per week, requiring regular meetings with your pilot team lead and mentors. Accepted companies will be required to outline their commitment to the pilot during the initial stage of the program.
How will the cohort be organized?
The program is designed in two phases. In the first phase, the accepted companies will work on pilot design and development with the Avery Dennison program team and your team leads. The second phase will involve the execution of the pilot. Additional programming such as webinars, office hours and programming will be provided to support the companies with their growth and scaling goals.
For the ongoing Business Challenge, the chosen startup will integrate with the selected startups from Cohort 03 and progress through the phases accordingly.
Where will the pilots take place?
The pilots will take place in different regions where Avery Dennison has operations (APAC, EMENA, North America and LATAM.).
Why should I work with you?
We’re an 88-year-old startup!
Ray Stanton (“Stan”) Avery invented the world’s first self-adhesive label as a way to merchandise objects. In 1935, he founded Avery Adhesives in downtown Los Angeles and, in 1990, the company merged with Dennison Manufacturing to form Avery Dennison. Over the past 80+ years, we have grown from one bright idea into a global Fortune 500® corporation that continues to advance quality and innovation in materials science.
Today our products are used in nearly every major industry. Our global scale—operating in over 180 locations—and extensive expertise in our core businesses allows us to be recognized as an industry leader.
Does this program take equity? What are the financial and investment incentives we should consider before applying to this program?
The AD Stretch program does not take equity. The pilots will be funded as per agreement between you and your program lead. The program will provide you with a network, support and guidance, and we will make introductions to help with your funding and scaling goals.
Although we have no specific investment requirements with this program, post-program we are open to potential discussions around transitioning successful startups to full-fledged commercial partnerships and into our venture portfolio.
General
I am a startup already working with Avery Dennison, should I apply?
Please get in touch with the AD Stretch accelerator team (ADStretch@averydennison.com) to discuss the nature of the engagement and further advice.
Do applicants relinquish IP when they submit to the challenges?
No. If there is joint IP developed during the pilot process, we will have tailored agreements to protect both parties’ best interests.
What should the pilot funding provided by Avery Dennison be used for?
The pilots will be funded as per agreement between you and your program lead. Pilot funds are not meant to cover staff or administrative costs, they are meant to be used for Product development and testing the market.
Will AD Stretch contribute to Avery Dennison’s business growth?
Innovation is at the heart of what Avery Dennison does. We look to you to help solve tomorrow’s problems today, thereby absolutely contributing to our business growth.
What will startups need to submit to be considered/accepted?
Please contact the AD Stretch accelerator team (ADStretch@averydennison.com)
