2024-04-24 16:54:06
Each of the selected startups will receive a contribution of US$25,000 from SQM Litio, in addition to strategic support for the definition and scaling of their businesses.
SQM Lithium Ventures, corporate venture capital of SQM Litio, in alliance with Endeavor, presented the ten selected startupsfrom among the more than 250 applicants from Chile and other countries, to be part of its third generation, GEN3from the Corporate Acceleration Program
The companies chosen in GEN3 propose innovative solutions to address challenges in the fields of lithium, water and electromobility, each receiving a contribution of US$ 25,000 from SQM Litio, added to strategic support for the definition and scaling of their businesses. .
In addition, they will be able to access subsequent financing through the SQM Lithium Ventures fund, in addition to other instances of economic and strategic support.
Those who will make up this third generation are Tech Binary (Chile), Enaxiom (Australia) and IX Water (United States) vertically agua; Magmatic (Austria), NIU NIU Resources Inc (Mexico), LIS (China), Neu Materials (Singapore) and BioMetallum (Argentina) for the sector Lithium next to RiDERGY GmbH (Germany) and ZeMaq Chile SpA (Chile) by electromovilidad.
“We are proud to have a new generation of entrepreneurs, whom we see as a complement to what we are creating, with very disruptive ideas that will help us understand new technologies and thus leverage their creations with our knowledge,” said Carlos Díaz, vice president. SQM Litio executive.
The rigorous evaluation process of GEN3 took place between the months of January and March and was carried out by the technical and commercial teams of SQM Litio and Endeavor.
“SQM Lithium Ventures joined a network where we work together to develop solutions to generate impact in the territory and achieve new open work models for innovation. Is about a very well evaluated ecosystem in Latin Americabut there is still work ahead to reach new communes and have an attraction around an entrepreneurial culture,” said Melissa Gajardo, executive director of the CORFO Antofagasta Committee who was present at the Kick off.
He added: “We are very excited about everything that will come with this new generation of entrepreneurs from the hand of SQM Lithium Ventures, we have no doubt that it will be an ivery positive impact for the entire country”.
This call was a space for collaboration between various actors of local and global entrepreneurship, bringing together from universities to networks of investors, large companies, collaborators, academics, students and schools, all of whom were called to contribute and inspire to contribute in three extremely urgent areas. .
This program seeks entrepreneurs from Chile and the world “whom we accompany in an acceleration program that allows them to identify strengths and weaknesses in technical and technological matters, as well as in the development of their business models. This is the starting point for four months of very intensive work with mentors from SQM Lithium Ventures and Endeavor where they will be able to access investment opportunities and eventually raise a first round of seed financing to scale their projects,” explained María de los Ángeles Romo, director of SQM Lithium Ventures.
Strengthening the entrepreneurial ecosystem
SQM Lithium Ventures is the corporate venture capital fund for SQM’s lithium business. The initiative was launched in December 2022 and its main objective is investing in companies in the growth stage that solve challenges related to lithium, water and electromobility.
The bottom invests in ventures and startups around the world. It also operates an Acceleration Program based in Antofagasta, for earlier stage startups within the same three verticals.
SQM Lithium Ventures has a global presence, with team members in North and South America, Europe, Asia and Australia. After evaluating more than 500 ventures, to date has made three investments in leading companies in the three verticals, Salinity Solutions (UK), Altilium Clean Technology (UK) and Electric Era (USA).
In this way, SQM Litio seeks to bring risk capital closer to the technological businesses of the future and recognize the role of entrepreneurs and startups with projects that solve problems in the field of lithium, water and electromobility.