This initiative, called the “SQM Lithium Ventures Corporate Acceleration Program”, in collaboration with Endeavor Atacama, is looking for entrepreneurs from Antofagasta, Chile and around the world who provide innovative solutions to address the challenges of the lithium business.
Global call for innovation in the lithium industry
Finding and promoting new technologies and innovations related to lithium is the main objective of SQM Lithium Ventures' first corporate acceleration program, which, in collaboration with Endeavor, begins its application stage on March 6.
At SQM, we recognize the value of entrepreneurs and their startups and want to support them from the earliest stages of development through scaling, attracting technological talent and becoming strategic partners. This initiative seeks to contribute to economic, social, and environmental progress, positioning Chile, and especially Antofagasta, as a hub of innovation in the lithium industry.
Benefits of the program for startups and entrepreneurs
The “SQM Lithium Ventures Corporate Acceleration Program” is focused on entrepreneurs and startups from Chile and around the world that develop solutions for the challenges of the lithium industry.
The selected participants will receive a contribution of USD 25.000 from SQM, strategic support for the development and scaling of their businesses, and the possibility of accessing subsequent financing through the SQM Lithium Ventures fund, among other opportunities.
Through this program, SQM seeks to support startups from early stages (Seed Series) to their scaling through venture capital investment (Series A).
The challenges of the lithium business
The call for proposals focuses on projects that address challenges in the lithium business in three main areas:
- Sustainability: technologies to improve efficiency in water use, loss and availability.
- Efficient processes: initiatives to optimize hydrometallurgical, chemical, energy and carbon footprint processes.
- Electromobility: solutions that boost added value, social impact and adoption in this market.
Entrepreneurs can apply with ideas, initiatives or projects, without needing to be incorporated or generating sales.
Startup application and selection process
Following the application period, a jury composed of SQM specialists and Endeavor experts will pre-select 25 ventures, of which up to 10 will participate in the final program.
Those selected will have access to mentorship, workshops, an advisory board, networking opportunities, investment readiness training, and connections to local and global financing networks. They will also be able to visit SQM's plants and the Atacama Salt Flat.
The process culminates in a Demo Day, where participants will present their solutions and value propositions.
Fund to promote entrepreneurship
At the end of 2022, SQM Lithium Ventures was launched, a corporate venture capital fund that seeks to accelerate entrepreneurship in the Antofagasta Region, Chile and the world.
This fund was launched in Antofagasta, positioning the region as a natural laboratory for business development and scaling.
María de los Ángeles Romo, director of SQM Corporate Venture, stated:
“At SQM, we are investing in a corporate venture capital fund to support entrepreneurs from the earliest stages through scaling. Our connection with startups allows us to respond more quickly to challenges such as water use, new applications for lithium, and electromobility.”
Collaboration with Endeavor and a global perspective
Gonzalo Yun, manager of Endeavor Atacama, highlighted:
"We value SQM's pursuit of solutions in areas such as lithium technology, electromobility, and water management. Endeavor's role will be to connect global entrepreneurs with the region, supporting their strategic development and access to financing, with an international perspective."
Application dates and how to participate
The application process begins on March 6 and will run until April 7.
Entrepreneurs can apply through a form available on the SQM website, where they can also download the program guidelines.
For more information, questions or comments, please write to: sqmlithium@sqm.com
An opportunity to boost innovation in lithium
We are facing a unique opportunity to connect the world of venture capital with lithium-related technologies, accelerate the industry, and position Chile, and especially Antofagasta, as a key player in developing solutions for the future.
