Prologue The Government of Colombia is betting on innovation as a driver for business growth. Behind this ambitious bet there are several state agencies working together with complementary functions. This ﬁrst portfolio of “dynamic startups” is a contribution from iNNpulsa Colombia to showcase some of the most courageous colombian companies that demonstrate the potential to succeed globally. We deem these companies suitable for investment, broader international reach, and prone for national and international partnerships. The Colombian companies with EXTRAordinary value presented in this publication are a true sample of all the remarkable things that are taking place in our country, resembling the discovery and awakening of companies that can compete, or that are already competing, at an international scale. In this portfolio you will ﬁnd visionary companies and entrepreneurs that are able to identify opportunities where others do not, showing courage and demonstrating perseverance to succeed, with the wit to do things differently, and with clear a determination strive. These are some of the best Colombian startups to invest in, or partner with. As with any ﬁrst version, this document may have omitted or overlooked some companies. If you want your company to be included in this portfolio, you can submit veriﬁable information and business data to iNNpulsa Colombia. You can also ﬁnd contact information on any of the companies listed, or obtain more information on Colombia’s strategy for promoting investment, innovation and internationalization. Welcome to Colombia, a country that seeks entrepreneurship and innovation. You will see how these companies and the efforts of all those involved in this project will put Colombia on the map of global innovation, thus generating exceptional value for everyone. Sincerely, Catalina Ortiz CEO iNNpulsa Colombia Apiﬂower Category: Natural Phytocosmetics and Cosmeceuticals. APIFLOWER engages in research, development and distribution of natural cosmetics including anti-aging, moisturizers, exfoliation and sun protection products. APIFLOWER products are manufactured with ingredients from the Colombian biodiversity - apiculture resins and native species from the Amazon. Despite being a lawyer, founder Fredy Tellez, is an authority in apitherapy after spending years researching the properties of different honeybee byproducts. His company is the result of developed curiosity in the face of adversity. Specialized Knowledge: Apitherapy is a ﬁeld of study in itself, but when combined with natural extracts of native amazon species, it reaches a whole new level in alternative therapies. So far, no one has taken this approach to develop cosmeceuticals and phytocosmetics for skin care. Passion Factor: Believing that innovation is not only for large companies, but that it is the only way small Colombian companies can compete with large established players. “How else can we compete with a 100-year old brand that is omnipresent in the market?” says Fredy, CEO. Sales: Not reported Revenue Potential in 5 years: >USD 20MM Company and Opportunity Overview: Apiﬂower began as a simple retailer of honeybee byproducts with just USD 45K in invested capital and reached almost USD 500K in sales shortly after. However, rising honey prices and rent increases almost banished them. The situation forced the founders to rethink the company, diverging towards added value products. http://www.apiﬂower.com Founder: Fredy Téllez Then, about came the idea of using propolis, a resin found in bee hives. A research team was assembled with people as passionate as Fredy for building innovative cosmeceutical products. 11 Apiﬂower The initial product - a shampoo – was not successful, so they set out to build their ﬁrst skin care product, which turned out to be an immediate success. Apiﬂower currently sells their products to countries like Russia, and their next goal is to sell their natural cosmetics all over the world. There is no other company in the world manufacturing dermocosmetic products based on research from propolis. Products: Apiﬂower knew from the beginning that the new dermocosmetics product line would have a global appeal due to its unique formulation and use of natural ingredients. Challenges and Risks: Distribution: the quality and specialty of their products requires direct consumer sales. This is an obvious challenge for a small company that wants to scale globally. However, if this company was able to go from selling honey to researching and developing high-end natural cosmetics, they might as well be able to pull it off. Global Reach: Future plans in APIFLOWER include the consolidation of their current presence in the Russian market and reaching greater distribution in Canada, UK and Germany. The result of their research is a high quality therapeutic product. This is the spearhead for building a global brand. 12 L ibe rtad y O rd en Disclaimer The information provided by every entrepreneur has been delivered in a free and independent way and as a response of their own will; therefore withdrawal or modiﬁcation of the aforementioned information can be requested at any time. The information included in this portfolio will be provided to national or international investors at the discretion of iNNpulsa Colombia, and entrepreneurs shall not have any interference in this decision. iNNpulsa Colombia does not guarantee the investors will choose any project. It is necessary to clarify that the selection of any project by investors is a free decision on their own. In addition, iNNpulsa Colombia would not be responsible for the decisions investors take in order to choose the projects or determine the amount of money to invest in or the conditions, amongst others. iNNpulsa Colombia does not guarantee the success or failure of any project which may be eventually funded by any investor. iNNpulsa Colombia does not guarantee the truthfulness or pertinence of the information in this investment portfolio. iNNpulsa Colombia does not recommend or suggest investments, neither does it issue any concept that shall or may be taken into account to make an investment decision in any project contained in this portfolio. iNNpulsa Colombia does not provide any consulting services for project investment. This document is exclusively for information purposes. Unidad de Desarrollo e Innovación- iNNpulsa Colombia shall not be liable for its content or any actions deriving therefrom.