Start-Up Chile is a
seed accelerator
Startup accelerators, also known as seed accelerators, are fixed-term, cohort-based programs, that include mentorship and educational components and culminate in a public pitch event or demo day. While traditional business incubators are often g ...
created by the Chilean government, based in
Santiago de Chile
Santiago (, ; ), also known as Santiago de Chile, is the capital and largest city of Chile as well as one of the largest cities in the Americas. It is the center of Chile's most densely populated region, the Santiago Metropolitan Region, whose ...
. It provides equity free investment for qualified
startups
A startup or start-up is a company or project undertaken by an Entrepreneurship, entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses t ...
.
The program
The program is managed by
CORFO
The Production Development Corporation (CORFO, from es, Corporación de Fomento de la Producción de Chile) is a Chilean governmental organization that was founded in 1939 by President Pedro Aguirre Cerda to promote economic growth in Chile.
...
, the Chilean Economic Development Agency, via ''InnovaChile'', with the mission of encouraging entrepreneurship and innovation to improve productivity in Chile. Start-Up Chile receives funding from the
Ministry of Economy, Development and Tourism
The Ministry for the Economy, Development, and Tourism ( es, links=no, Ministerio de Economía, Fomento y Turismo de Chile) is a Chilean state ministry in charge of planning and executing the flow of policies and projects of the Chilean governmen ...
,
Ministry of Foreign Affairs In many countries, the Ministry of Foreign Affairs is the government department responsible for the state's diplomacy, bilateral, and multilateral relations affairs as well as for providing support for a country's citizens who are abroad. The entit ...
and
Ministry of the Interior
An interior ministry (sometimes called a ministry of internal affairs or ministry of home affairs) is a government department that is responsible for internal affairs.
Lists of current ministries of internal affairs
Named "ministry"
* Ministry ...
.
It launched in 2010, bringing 22 startups from 14 different countries to Chile, providing them with CLP 20,000,000 (Chilean pesos) of equity-free seed capital, and a temporary 1-year visa to develop their projects for six months.
The selected
startups
A startup or start-up is a company or project undertaken by an Entrepreneurship, entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses t ...
join a 24-week program in
Santiago
Santiago (, ; ), also known as Santiago de Chile, is the capital and largest city of Chile as well as one of the largest cities in the Americas. It is the center of Chile's most densely populated region, the Santiago Metropolitan Region, whose ...
where they receive mentoring, office space and access to the most potent social and capital networks in the country. Although the program is open to Chileans, most of the start-ups come from different parts of the world.
The scheme's stated objective is to turn Chile into the innovation and entrepreneurship hub of
Latin America
Latin America or
* french: Amérique Latine, link=no
* ht, Amerik Latin, link=no
* pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived f ...
by attracting the world's best and brightest entrepreneurs to bootstrap their startups in Chile.
By 2011 the goal was bring 300 start-ups to Chile, and was expected to have 1000 by 2014, with the final goal of create a $1b company, and globalize the Chilean entrepreneurship culture. Founders of the program are expected to organize and actively participate in networking events and activities that foster entrepreneurship locally.
This is Chile - Chilean startup transforms trash into treasure
http://www.thisischile.cl Thursday, November 07, 2013,
Evaluation of results
The entrepreneur participants of Start-Up Chile are measured during their time in the program by indicators that include their participation in local events, presenting workshops on their particular expertise, raising local or international capital, and contracting talent.
See also
* Angel investor
An angel investor (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an individual who provides capital for a business or businesses start-up, usually in exchange for convertible debt or owners ...
* Venture capital financing
Venture capital financing is a type of funding by venture capital. It is private equity capital that can be provided at various stages or funding rounds. Common funding rounds include early-stage seed funding in high-potential, growth companies ( ...
* CORFO
The Production Development Corporation (CORFO, from es, Corporación de Fomento de la Producción de Chile) is a Chilean governmental organization that was founded in 1939 by President Pedro Aguirre Cerda to promote economic growth in Chile.
...
References
External links
*
Economy of Chile
Business incubators
{{Chile-stub