Start-Up Chile opened applications and increased fund for entrepreneurs

12.01.18 Aktuelles, Mitgliedernews

From January 9th to the 30th, startups from all over the globe may apply to Start-Up Chile Seed. The selected entrepreneurs will obtain a equity free fund of 40K USD, a workspace and an acceleration process to grow their business, among other benefits.

SANTIAGO, January 2018. Until January 30th, startups with less than 3 years of development and from any country around the globe, may apply to be part of one of the largest entrepreneurial communities in the world.

The acceleration program they can access has a duration of 7 months, a period during which participants can share with other founders from more than 80 countries. The selected startups will receive $25 million chilean pesos (USD $40,000 app). This means an increase of $5 million chilean pesos (about USD$10K) in the fund given to entrepreneurs. In addition, at the end of the program, the best startups will have the option to apply for another $40K USD to stay longer in the country.

The selected companies will get a complete acceleration process, which includes mentoring, pitch training and workshops among other activities. One of the key points of the program is that all foreigners also receive a work visa for one year, so they can grow their business from Chile. 

To apply, the startup cannot have more than 3 years since its founding, the main team must be 100% dedicated to the business and they should have a functional product with early validation.

Entrepreneurs interested in Chile to go global, should enter Start-Up Chile website and follow the requirements and instructions in order to apply.

The applications will be reviewed by experts in innovation, investors and entrepreneurs, as well as an Entrepreneurship Subcommittee in Corfo. The results of this application will be published on Friday, May 4th, 2018.