Startup Chile Seed Acceleration Program attracts world-class entrepreneurs to do business in Chile while offering equity-free fund to qualified startups. The program is set to accommodate early-stage entrepreneurs who will strengthen the enterprise environment, support the culture of innovation in Chile and connect with Latam to grow from their region to the world.
Focused on hastening the occurrence of customer-validated and scalable companies that will leave a lasting impact on the Latin American ecosystem, Startup Chile Seed Acceleration Program is for companies with a functional product and early validation.
Startups from all over the globe are invited to apply. Interested entrepreneurs having revolutionary business ideas willing to leapfrog their great idea to the next level with gain the following benefits from the programme:
An equity free fund
Successful startup will receive an equity-free fund of CLP $25MM ($35,208) which is towards 90% of total program costs and through either reimbursement or an advance payment plan. The founder/startup must provide 10% of the remaining funding. Applicants can apply for an additional CLP $25MM to stay in Chile, which will also give them an extension of the program to 14 months total.
Access to Global networks and 6-month acceleration program
During your 6 month experience in Chile, Startup Chile will accelerate and support your business, through a full acceleration program + access to both national and international corporate network, investors, mentors, and global partners to scale to new markets. You will also be a part of an inclusive and energetic environment with other like-minded entrepreneurs to have the experience of a lifetime. The project duration could be up to 9 months, which may be extended only once and for up to 1 additional month.
Foreign teams will be provided with a one-year working visa, free coworking space, and a full soft-landing process. All teams will have access to the Start-Up Chile community which includes up to $100,000 in perks such as Microsoft BizSpark, Facebook Start, Amazon Web Services and many more.
Applicants may apply as either a Natural Person or as a Chilean Legal Person. A Chilean Legal person is suitable for Chilean companies. In this case, the company will be the beneficiary of Start-Up Chile funding. Foreigners with an incorporated company outside of Chile must apply as a Natural Person. The person named on the application as a Natural Person will be the beneficiary of funds. This information does not affect the outcome of the evaluation process!
Your startup cannot be older than 3 years. We are looking for early start ventures.
- Your team leader must be 100% dedicated to the project. Optionally, the participation of two natural persons who form part of the founding team and who are duly specified during the application process may be considered. These terms apply to Chilean participants also.
- You will need to explain why you are coming to Chile to do business and how you will use Chile as a platform to go global.
Unfortunately, Startup Chile Seed Acceleration Program does not accept consulting companies, export/import companies, and franchises as they are not easily scalable globally.
How to apply
If you are meet the criteria, you may apply via the online application portal. The application includes questions about leadership, the team, and your motivations. In addition, you will need to submit a 90 seconds video recording and have a referee outline of why you and your team are best suited to tackle your problem.
Interested startups are to create a 90 seconds video as they answer the following questions:
- Does the startup solve a global problem, a problem of a certain country or a local problem, and why?
- What is the product or service, its attributes, and the reasons that make the project a breakthrough innovation?
- The founder must be in front of the camera. Animated videos would not be accepted
Recommendation letters: Your recommendation must be uploaded before the deadline to avoid application rejection.
Application for Startup Chile Seed Acceleration Program 2019 opens from July 30th until August 27th, 5 pm (GMT-4/Chilean Time).