The Matte Group created its innovation department in 2019 and decided to start its venture capital wing shortly thereafter. This year the Group invested USD 15 million in startups and in 2023 – despite the challenging scenario that lies ahead for the industry – the intention is to at least double that amount.
Felipe Alcalde (38) has just arrived from Chile Day in London, where he spoke on a panel with the Corfo Executive Vice-chairman José Miguel Benavente, Global Head of Fintech for Startups at Amazon Web Services Sam Edge, and the expert in media and entertainment investments, Elisa Alvares.
In his office on Agustinas avenue (they’re one of the few large companies still headquartered in downtown Santiago), he proudly displays a Norratex textile fiber from the Nordic Bioproducts company. “Touch the one next to it. That’s cotton. It feels the same,” he says of a material that resembles plastic. He then points to another that might replace expanded polystyrene, and plant-based bottles and boxes. He has a hard time hiding his admiration for these technologies.
A week ago they cemented a partnership with the English startup Pulpex, a spin-off of Diageo (manufacturers of Johnnie Walker, Smirnoff and Guinness) to produce paper bottles adaptable to all kinds of needs. He says that they’ve been in discussion for more than a year and have just decided to team up as investors and partners.
There are two paths to partnering with a startup he said. The first is through investment to search out the businesses of the future. In 2020 they set a new goal that by 2025, 10% of the company’s sales must come from businesses that did not yet exist at that time, which is around USD 600 million. They’ve reached USD 250 million so far. The second path has to do with efficiency in which firms let them to help improve processes in order to increase the EBITDA.
He added that they have contacted more than 350 scientific-technological companies and invested in four (StrongByForm, Nordic Bioproducts Group, Pulpex and one that seeks to replace expanded polystyrene) and have created strategic alliances with 40 of them.
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