05 May 2016
Amorim Cork Ventures - A thousand and one ideas that feature cork
Born in 1870, the Amorim Group is a world leader in the cork sector. With 605 million Euros in annual sales, more than 22 thousand clients and 3500 workers, the company exports 95% of its output to more than 100 countries.
However, despite its long history, Amorim Cork is constantly inventing and reinventing new applications for this highly versatile material, and every year invests 7.5 million Euros in r&d in all its business units: stoppers, coatings, composite agglomerates, insulation and materials.
In addition to the qualified staff employed by each r&d internal department, the group also establishes partnerships will cutting edge research centres and scientific units in Portugal and abroad, mainly in Australia, the US, France, Italy and Germany, among others.
But innovation can also spring from Amorim’s own workers. Through its Cork.In, programme, collaborators are encouraged to identify and develop opportunities for creating value in the business. Thus, in a structured manner, the experience and know-how of the company’s employees is valued, and they feel part of the business’ growth.
Among the most creative r&d projects for solving problems or finding new solutions are AluCork, Helix and HydroCork. The former was developed in close cooperation with Siemens and involves a cork flooring system for a state of the art subway. Light, resistant and with high technical performance, AluCork allowed the production of a six-coach vehicle weighing around 18 tons less, while also benefiting the subway’s acoustic and thermal insulation. By combining an ergonomic stopper with a glass bottle with internal stripes, Helix became the first cork stopper solution that does not require a bottle opener. HydroCork is a market innovator: the first fully water-resistant cork flooring.
Through these paradigms, Paulo Bessa, Diretor General at Amorim Cork Ventures, confirms that the company’s r&d strategy turns "around two main axis: on the one hand, aiming to improve the performance of the company’s most traditional applications, and, on the other hand, combining various materials with cork, in order to target new markets and segments."
Aware that cork can originate a large number of products, Amorim Cork has launched Cork Ventures (ACV).
Located in Mozelos, Santa Maria da Feira, a ACV is fully devoted to supporting entrepreneurs, ideas and businesses involving cork that enrol in one of its two annual application stages. According to Paulo Bessa, the projects are selected taking into account "such criteria as their innovation level and business model, the role/importance of cork in the business proposal, their export potential and, last but not least, the profile of the entrepreneur ".
ACV tries to leverage the creativity of the proposals during two stages: project incubation and risk capital. The first stage involves technical and financial support during the pre-start up stage, which speeds up the learning process and the definition and test of the business model, market responsiveness, etc... During the second stage, one invests in creating new start-ups, with ACV as a junior partner, but also the main investor and provider of management expertise and contact networks.
Founded in 2014, ACV has already analysed more than 190 projects from various sectors and 13 different countries, with cork as their common denominator. Twelve projects were incubated, three of which have become start-ups, while other two will follow the same path. The investment in project incubation takes place when the early stage of a project and team with potential demands obtaining a first prototype or other knowledge deemed indispensable when deciding to found a new company.
In March EGOCHIC, the owner of ASPortuguesas, was ACV’s first start up to reach the market with its innovative cork flip-flop concept. More than just environment friendly, ASPortuguesas is egofriendly footwear, i.e. it loves your ego and organic unit. They boast an innovative sole design (with enhanced walking comfort), an ergonomic and comfortable band, a more resistant link between sole and band, as well as more grip one wet floors. Sophisticated and colourful, the 11 models of ASPortuguesas are perfect for the beach or a stroll around town. Soon they will be available at concept stores and multi-brand stores, but you can already purchase them at the brand’s site.
In addition to this start-up, four more companies are under development. One in the decoration textiles and another devoted to injecting cork composites and polymers, both without products on the market yet. Two more star-ups are soon to be founded, with different products, which will enter the health and well-being market.
In early March, Amorim Cork Ventures once again promoted a new call for ideas and businesses involving cork innovation. Those selected during this year’s first call will be pre-accelerated in Lisbon, in a partnership with Beta-i, and the proposals selected during the final pitch will be presented on 4 July. Following the success of this initiative, ACV is preparing an identical version outside Portugal. Potential partners and markets are currently being considered.
If you have not yet had the opportunity to submit your application, and you believe there are a thousand and one ideas for processing cork, wait for ACV’s new call next semester.
Source:
In, Magazine