Amatil X is ‘a platform for emerging possibilities to power growth beyond the company’s core business’, and will support concepts, start-ups and early-stage businesses that address consumer needs and anticipate those of the future.
"Innovation is no longer a buzzword - it's a routine element in business growth and in maintaining market share," says Coca-Cola Amatil. "Consumers want bespoke, niche, local and personalized ‘for me’ products. They expect brands to earn their loyalty, one experience at a time.
"Amatil X is our emerging possibilities platform, designed to nurture and scale opportunities for growth. It is focused on creating experiences that will delight our customers into the future, beyond core products and services."
AX Ventures, a multimillion dollar corporate venturing program, will invest in revenue growth opportunities. Meanwhile, such opportunities will be identified by accelerator programs Xcelerate and Xponential.
- Xcelerate will welcome applications from entrepreneurs and early-stage companies in Australia and New Zealand. This will allow Coca-Cola to gain “first-hand access to emerging technologies and trends; building a pipeline of investible businesses; and supporting the overall start-up ecosystem in Australia and New Zealand” Applications for Xcelerate are now open.
- Xponential is an employee venturing program that will open by June 2018.
The Amatil X programs are not open to proposals for new beverages.
Alison Watkins, group managing director, said: “Our aspiration is for Amatil X to bridge a gap between large established corporations and the agile, innovative startups that would be great partners in our growth agenda."