Start-Up Chile is a program created by the Chilean Government, executed by Corfo via InnovaChile, that seeks to attract early stage, high-potential entrepreneurs to bootstrap their startups in the country, using it as a platform to go global. The end goal of the accelerator program is to convert Chile into the definitive innovation and entrepreneurial hub of Latin America.
After receiving more than 1400 applications during the 6th application period that ended on October 8th, Start-Up Chile announces the 105 startup companies have been selected to be part of the world-recognized acceleration program’s 6th generation.
With arrival dates in either January or February of 2013, the 105 chosen startups call more than 31 different countries home and represent a myriad of industries as well as many of the world’s most prestigious educational institutions including MIT, Stanford University, University of California, Berkeley, Brown University, Oxford University and many others.
The most frequently represented countries are: USA (24%), Chile (19%), Argentina (9%), and India (7%). They also welcome entrepreneurs coming from countries as diverse as Morocco, Ukraine, Pakistan and the Netherlands!
In 2010, the program, at that point just a pilot, brought 22 startups from 14 countries to Chile, providing them with $40,000 of equity-free seed capital, and a temporary 1-year visa to develop their projects for six months, along with access to the most potent social and capital networks in the country. The selected entrepreneurs were approved by an admission process conducted by Silicon Valley experts and a Chilean Innovation board that focuses ardently on global mindsets and worldwide potential. It is essential that the chosen entrepreneurs work in a global mindset, believing that the route to success is via expansion not isolation.