SQM Lithium Ventures presented the first generation of entrepreneurs within the corporate acceleration program

Finding and promoting new technology and innovations related to lithium is the main objective of SQM Lithium Ventures’ first corporate acceleration program in collaboration with Endeavor Atacama. The call for proposals brought together more than 150 startups from Chile and the world, which were evaluated multiple times with successive filters by SQM and Endeavor technical and business teams, reaching the final 12 selected companies, who are starting their acceleration process.

“SQM is committed to the development of a sustainable industry, which is the reason we endeavor, through this initiative, to accelerate the ideas of the twelve entrepreneur finalists—companies committed to innovation, the environment and the use of lithium. We are currently the largest lithium producer in the world and have the smallest carbon footprint. We are therefore proud to continue strengthening these initiatives,” said Carlos Díaz, Executive Vice President of SQM’s Lithium Business, at the kick-off for the initiative.

María de los Ángeles Romo, Director of SQM Lithium Ventures, said the call for projects created a great sense of anticipation in Chile and the world. “We received an interesting number of initiatives, with relevant technological components for solving global issues. The decision was not easy, and I would like to highlight the complementary views of SQM and Endeavor in choosing a very select group of entrepreneurs with revolutionary technology and growth potential.”

The executive added, “We are very proud of the results, especially since 17% of our first generation is Antofagasta entrepreneurs. This reinforces our commitment to the innovative ecosystem and our contribution to the development of technology startups in Antofagasta—a region that will play a key role as a natural laboratory and is recognized for its important potential in business development and scaling.” In addition, we will encourage other entrepreneurs in Chile and the world to set up operations in the city, not only to attract innovative talent, but also to retain it.”

The selected entrepreneurs will receive USD 25,000 from SQM, strategic support for defining and scaling their businesses and the possibility of accessing subsequent financing through the SQM Lithium Ventures fund, among other funding opportunities. This version of the program focused on projects proposing solutions to lithium business challenges in one of the three following areas: lithium, water and electromobility.

The Winners

One of the twelve selected ideas from Chile and around the world is Coddi, a company from Antofagasta that provides predictive maintenance solutions for industrial equipment, using a unique perspective for addressing complex problems and providing innovative solutions, optimizing performance and productivity, reducing downtime and minimizing maintenance costs.

The other companies that will also begin their mentoring process are: O2 from Chile, XtraLit from Israel, Ualabee from Argentina, RTZ from Switzerland, Aquafortus from New Zealand, Konatec from Chile, Chass from Chile, Remote Waters from Chile, Relitia from Chile, Eightinks from Switzerland and Aiguasol (HDH) from Chile.

Out of the total selected companies, 42% work in electromobility, 33% in water and 25% in lithium; 64% are Chilean companies; 50% of the total include at least one woman on their business team.

Kathleen Barclay, President of Endeavor Chile, commented that this process “will strengthen entrepreneurship between Antofagasta, a global mining center, and the world. Alongside SQM, these companies will be able to scale and deliver added value to the region. At Endeavor, we will contribute our experience through several mentors, in order to develop these startups and positively impact the industry and the territory.”

Nicole Briones, co-founder of Relitia, a finalist that recycles disused lithium-ion batteries, was happy and grateful for the opportunity, adding that “now we will be able to accelerate our idea and grow as a startup. We are from the region and these opportunities are very valuable; we thank SQM for including those of us who are starting out. It is very important.”

What is SQM Lithium Ventures and how will it strengthen the entrepreneurial ecosystem?

Launched at the end of 2022, SQM Lithium Ventures is an unprecedented Chilean initiative that seeks to accelerate entrepreneurship in its different stages, from acceleration to series A investment, in the Antofagasta Region, Chile and the world.  This corporate venture capital fund for SQM’s lithium business will invest up to US$40 million in water, lithium and electromobility verticals.

“The value of the link with entrepreneurs, technology and startups allows us as an organization to have greater speed of reaction to Los challenges that the market demands, such as reductions in water use, new applications for lithium and processes associated with product yield and electromobility and value-added initiatives. In this way, as a company we will be better prepared to solve global problems, with a local and sustainable approach,” remarked Carlos Díaz, Executive Vice President of SQM’s Lithium Business.