Mineral Forecast participates in Demo Day in Boston in front of select international investors and mentors

As part of the 2023 class of Techstars Boston Accelerator—one of the largest accelerators in the world—Mineral Forecast made its presence felt in the North American innovation ecosystem, advancing in conversations with potential investors and forging a partnership with Modlee, a renowned generative AI startup.

December 2023 – On December 6th, Techstars Boston Accelerator’s Demo Day was held at Google’s Boston offices. Twelve international startups presented their graduation pitches to a large audience of potential investors, mentors, innovation leaders, and Techstars alumni. Techstars has been operating since 2009 and, to date, has launched 20 unicorns, 109 companies valued at $100 million, created thousands of jobs, and has a cumulative market capitalization of $172 billion.

Among the startups selected this year, there was only one Chilean startup: Mineral Forecast, a minetech company co-founded nine years ago by Javier Muñoz and Arturo Rochefort with the aim of democratizing the use of Artificial Intelligence (AI) in mineral exploration. Today, it works with mining companies in Chile, Peru, and Mexico. “The Demo Day was a very intense and energetic day. We prepared the pitch for several weeks, and with our 12 fellow Techstars 2023 classmates, we managed to put together a very special event. In fact, on the day of the event, there were mixed feelings: on the one hand, happy that the pitch was finished after so many rehearsals, but on the other, a little sad, since we wouldn’t be seeing each other as often,” says Javier Muñoz, one of the founders of Mineral Forecast.

The event took place at Google’s newly opened Boston office, located in the penthouse of its building. Once the pitch round for the 12 startups—from the Philippines, South Korea, India, the UK, and the US—was over, it was time to interact with the audience. “Investors, mentors, and advisors approached us, very curious to learn about what we’re doing in the minetech world, because they know that the venture capital industry is still in its infancy when it comes to mining investments. Many potential investors approached us to learn more details about our plans and next steps,” Javier Muñoz proudly recounts.

After a two-hour meeting, an after-party took place, where the 12 companies from this generation of Techstars continued to share and talk with mentors and leaders from the city’s innovation ecosystem. “The great thing is that from now on, we’ll be members of ‘Alumni Techstars,’ a circle of innovators we’ll be part of for life, so the connections and learning don’t end this year,” says Arturo Rochefort, co-founder of Mineral Forecast.

The other companies that are part of the 2023 class are: Amherst Intelligent Security, Aperture Bio, Biotics AI, Bummock AI, Ediphi, EKOS AI, InStockRx, Linq Labs, Modlee, Rewire Health, RIPA AI and Modlee. Specifically, they recently sealed an alliance with the latter that will allow Mineral Forecast to further improve the reach of its software, since Modlee offers a technology based on generative AI, which recommends ideal models for machine learning tasks, based on a data set, with the aim of multiplying the efficiency of machine learning model experimentation tenfold.

Javier Muñoz explains that “Modlee will allow us to further improve our algorithm and thus help our clients identify targets much more quickly and accurately. We are very excited about this partnership, as we are confident it will significantly speed up time-to-market and the training phase for machine learning models.”

For his part, Brad Magnetta, founder and CEO of Modlee, comments: “We spent considerable time with Mineral Forecast during Techstars Boston and are delighted to support their work and help accelerate their mission.”

About Mineral Forecast
Mineral Forecast offers the mining industry AI-based software that enables exploration teams from various companies in the sector to process databases and information generated during the exploration process, thereby quickly and securely identifying sectors with high mineralization potential, while reducing costs and time. They are currently working with mining companies in Chile, Peru, and Mexico, and their next steps are to open a financing round focused on North American investors in January and begin reaping the benefits of their recent partnership with Modlee, also a member of the Techstars Boston Accelerator 2023.