2019 was a great year at Amatil X.
We launched in Indonesia, invested in two global venture capital funds and evaluated more than 1,500 startups for partnership and potential investment.
We’re excited about the possibilities the startups we’ve uncovered present for our business and about those we’re yet to discover.
Join us as we look back on 2019.
ABOUT AMATIL X
Amatil X is our corporate venturing platform set up to help us identify, work with, and invest in startups and build entrepreneurial capability across Coca-Cola Amatil.
Our model allows us to partner or invest in startups that offer new ways to:
- help our customers grow;
- sell to consumers;
- deliver beverages; or
- package our products and minimise waste.
In April (on the eve of Amatil X’s first birthday), we expanded our geographical reach and launched Amatil X in Indonesia. In the months that followed, we established our credentials in the local startup ecosystem and now have a good pipeline of commercial pilot and investment opportunities in Indonesia.
At Amatil, we aim to leave a positive legacy and ensure minimal impact on the environment. Amatil X supports our sustainability agenda by reviewing new technologies and business models that are aligned to our sustainability goals. In 2019, we reviewed more than 280 startups that met this criteria and worked with our sustainability teams across the Group to assess their strategic fit.
We also introduced Adiona to our bulk water business, Neverfail. They ran a successful pilot to optimise our delivery routes. The result was a 36 per cent reduction in average delivery distance, which was recognised with a commendation in the Environmental Excellence category at the Australiana Supply Chain and Logistics Awards in November 2019.
Our partnership with Snooper provides in-store activation insights that enable real-time action to drive improved sales performance for our customers. We worked with Snooper to capture instant shopper feedback on our most significant in-store investments in supermarkets during our peak selling periods. We also tracked our share of visible inventory in fridges to capture new sales opportunities.
We established a Coca-Cola System-wide venturing community to develop a global approach to working with the start-up industry. Amatil X hosted the inaugural venturing workshop in Jakarta, Indonesia with representation from Mexico, Europe, Japan, India and the United States.
Our 2018 investment in TabSquare has continued to help our customers grow their business driving their average cheque size by up to 20 per cent.
We’re thrilled to have formalised partnerships with Australian venture capital firm, Artesian Venture Partners, to manage the Amatil X Early Stage Venture Fund, and Singapore-based Hatcher, a data-driven venture capital firm that uses artificial intelligence and machine learning-based technologies to identify early-stage opportunities. These partnerships will enable us to ramp up our scouting and investment activity into the future.
Aider joined our portfolio via the Amatil X Early Stage Investment Fund. It will drive the retail sales performance of our customers by analysing real-time data to give voice-activated advice on upcoming financial and retail decisions.
Amatil X plays a unique role in building entrepreneurial capability at Coca-Cola Amatil. In 2019, we launched our flagship program, the Amatil X Academy, in Indonesia. The Academy is a six-month accelerator designed to build entrepreneurial capability and connect our people to the local startup ecosystem.
Delivered by our partner, BlueChilli, the Amatil X Academy trained 1,629 employees at 14 locations across Indonesia to apply Lean Startup methodology to a corporate environment and demonstrated that great value can be unlocked when corporates and startups work together.
The program contributed to an uplift in employee engagement in Amatil Indonesia from 76 per cent to 82 per cent.
In December, we had the opportunity to celebrate just how far we’ve come in only 18 months by bringing together members of the startup ecosystem in Australia.
As we move into 2020, we are excited about the possibilities we will create for today and tomorrow as we connect new technologies and business models to our business. Our investment pipeline looks strong and we look forward to sharing more on this in the months to come!