Executive summary: The Material Innovation Initiative (MII), a nonprofit focused on accelerating the development of animal-free and environmentally preferred materials, is shutting down after 5 years of operation despite significant industry growth and accomplishments.
Key points:
MII inspired over $2.31 billion in investments for next-gen materials since 2019.
The organization facilitated nearly 400 collaborations between brands and next-gen material companies in 2023.
MII’s research revealed 92% of US consumers are likely to purchase next-gen products.
The next-gen materials industry has grown from 102 companies in 2022 to 141 in 2023.
No specific rationale is given for MII’s closure, but the announcement suggests the industry is now well-positioned to advance without MII’s direct involvement.
Stakeholders are encouraged to continue supporting the next-gen materials sector despite MII’s closure.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, andcontact us if you have feedback.
Executive summary: The Material Innovation Initiative (MII), a nonprofit focused on accelerating the development of animal-free and environmentally preferred materials, is shutting down after 5 years of operation despite significant industry growth and accomplishments.
Key points:
MII inspired over $2.31 billion in investments for next-gen materials since 2019.
The organization facilitated nearly 400 collaborations between brands and next-gen material companies in 2023.
MII’s research revealed 92% of US consumers are likely to purchase next-gen products.
The next-gen materials industry has grown from 102 companies in 2022 to 141 in 2023.
No specific rationale is given for MII’s closure, but the announcement suggests the industry is now well-positioned to advance without MII’s direct involvement.
Stakeholders are encouraged to continue supporting the next-gen materials sector despite MII’s closure.
This comment was auto-generated by the EA Forum Team. Feel free to point out issues with this summary by replying to the comment, and contact us if you have feedback.