CCA launches platform for investment outside of beverages
Coca-Cola Amatil has launched a new business platform to help explore new opportunities outside of beverages.
Named ‘Amatil X’, the platform will help support the development of concepts, start-ups and early stage businesses that anticipate and address customer needs.
Coca-Cola Amatil (CCA) said Amatil X will not be open to proposals for new beverages and will not compete with existing innovation pipelines provided by CCA brand partners, including The Coca-Cola Company.
Amatil X’s “themes”
Amatil X will instead address three broad “themes”:
- “Millions of moments of impact”: concepts for creating a sustainable future
- “One step ahead”: concepts for redefining the customer experience
- “Route to me”: concepts for exploring alternative ways of getting customers what they want, when and where they want it
At the centre of Amatil X is ‘AX Ventures’, a multimillion dollar corporate venturing program that will invest in non-beverage related business opportunities. Business opportunities will be placed into one of two channels, the first of which is ‘Xcelerate’, a corporate accelerator program operating in Australia and New Zealand lead by start-up accelerator, Blue Chilli.
The other channel is ‘Xponential’, an employee venturing program.
CCA Group Managing Director, Alison Watkins, said whilst CCA needs to focus on its core business it also needs to find new avenues of growth.
“We want to continue to challenge ourselves to provide our customers with ‘Only at Amatil’ experiences,” Watkins said.
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