A decade after the founding of NotCo, Matías Muchnick not only leads one of the most disruptive startups in Latin America, but also represents a new generation of Chilean entrepreneurs with international projection. The company, born in Chile, has managed to make its way into the main markets of the Americas thanks to its innovative proposal: developing plant-based foods through artificial intelligence, boosting Chilean talent in the global food industry.
His vision has been recognized at the highest level: he was recently named the 6th most influential CEO in the region by Horse Consulting, being the only Chilean in the top 10. In this interview, Muchnick discusses NotCo 's role as an ambassador of national innovation, the potential of Chilean talent and how the food industry can contribute to a country image based on creativity, ambition and sustainability.
This year marks the 10th anniversary of Notco's founding. How do you think the company's success contributes to Chile's good image in the world?
When we started Notco 10 years ago, we wanted to break with the idea that in Chile you can't create something completely new, something that the world has never seen. We had the option of starting the project in the United States, but for us it was fundamental to return to our roots, recruit Chilean talent and ask ourselves: why not?
Particularly in the food industry, I believe that in Chile we have a tremendously powerful sector with even more potential to develop. In terms of talent, we have a really remarkable quantity and quality of professionals in the food industry. I have been to several countries and it is outstanding.
In fact, many of these Chilean engineers are being sent to work in the United States, Argentina or Brazil. Therefore, I believe that we are not only contributing significantly today, but also have the potential to continue growing and contributing on an even larger scale.
What have been the greatest challenges and opportunities of scaling a Chilean startup to the world? What attributes do you think distinguish Chilean entrepreneurs from the rest of the world?
I always hear a lot of criticism of Chilean entrepreneurs, such as that they do not have a global vision or that they lack international ambition. I don't think that is so. In my experience, our work discipline is really good compared to other cultures. Chileans work well and work hard. Rather, I think what was missing were success stories; someone needed to be the first to lead the way.
Today we see that there are more Chilean companies thinking big. After successes like Cornershop and NotCo, many interesting companies have emerged, and new ones continue to appear. I would say that Chile has everything it needs: talent, greater experience and now also a venture capital ecosystem that allows us to position ourselves as one of the most important countries in the region for entrepreneurship.
For me it is essential to look outward, to see what is happening in other markets and to prepare solutions that are not only designed for Chile.
"I think being Chilean is spectacular."
What does it mean to you to be Chilean? Is there something from Chile that you carry with you, even when you work from other countries?
The pride of being Chilean is always present. Personally, I love it when I arrive at a meeting, and I have been the first Chilean to enter a room full of people who had never had contact with someone from Chile. The truth is, I think being Chilean is spectacular and I wish I could transmit that feeling.
On the other hand, definitely something I take everywhere I go is my accent. When I speak Spanish, I can't hide the "hueón", or the "hueá" (laughs), or all those idioms that are so much our own. That is also my source of pride.
Do you think there is potential for more global leaders to emerge in Chile? What advice would you give to young Chilean innovators?
I believe that Chile is full of talent and that there are more and more leaders. If we want to continue creating global leaders, then we have to think big and propose global visions. Education plays a key role in this. In terms of education, we have a lot of room for improvement, but we still have all the potential to continue to develop leaders with a global mindset.
Talent is an invaluable resource. For me, one of the great challenges that Chile must address as a country is precisely how we manage and develop talent. I would love to live in a world where, when we look at the largest companies on the planet, we find several Chilean CEOs. Today that does not happen very often.
I am convinced that in Chile we also have the potential to achieve this. For that, we need to reorient and channel education in a different way. Regardless of the government in power, we have to align ourselves around the type of education we want and the talent we seek to train.
Showcasing Chilean talent to the world
You were ranked as one of the 100 most influential CEO's in Latin America by Horse Consulting. What does this recognition mean to you and how do you link it to your role as a leader?
I am not particularly a fan of rankings. However, this case is special because the Horse Ranking has an interesting approach since its measurements are based on influence and it uses artificial intelligence to put together the list. The truth is that I am proud to be at number 6, and even more proud to be the only Chilean representing. But nothing of what I do in my day to day has the objective of appearing in a ranking. I believe that rankings should be a consequence of the good work one is doing, not an objective in itself. Today being a leader is more challenging than ever, it is quite a lonely task.
It is a source of pride that this recognition comes after complicated times and, in addition, being the only one from Chile in the top 10 is good news and I am happy to be representing "Chilito" up there.
Based on your experience with NotCo, what image do large investors have of Chile?
I think the vision of investors has evolved a lot from our beginnings in 2015 to today. The maturity of the ecosystem in Chile is much more solid. We can see cases like Cornershop, NotCo, Buk or Fintual: very robust companies that have received investment from the best funds, not only in the region, but in the world. In short, we have managed to build a name and a reputation that did not exist before. In the early days, we were seen almost as an oddity. Today, that perception has completely changed.
Chile is making strong progress on sustainability and green economy issues. To what extent does NotCo seek to align itself with these country objectives?
I always repeat a phrase that I try to convey to every entrepreneur: 'we all want to change the world, but not all of us want to help our mom do the dishes'. Sustainability is not only achieved with an inspiring vision or by being a global activist; it is built through execution and concrete results. We have to demonstrate, with facts and figures, that we really are making a difference.
Therefore, it is essential that the real purpose that guides what we do is sustainability, we must understand it as a central purpose in our work, not just as a strategy to differentiate ourselves or charge more for something that perhaps the consumer does not value enough.
