Start-Up Chile Seed Program Generation 20 for Startups Worldwide (Funded to Launch Your Startup in Chile – USD $40,000)

Startup chile Seed Program Gen 20

Application Deadline: January 30th 2018

Start-Up Chile is a program created by the Chilean Government that seeks to attract early-stage, high-potential entrepreneurs to bootstrap their startups using Chile as a platform to go global.  The end goal of this program is to position Chile as the innovation and entrepreneurship hub of Latin America.

The Start-Up Chile Seed program attracts world class entrepreneurs to do business in Chile. Seed accommodates early stage entrepreneurs who will strengthen the enterprise environment, support the culture of innovation in Chile and connect with Latam to grow from our region to 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.

Requirements:

The applicants can be natural or legal persons, according to the following:
Natural person, Chilean or foreign, over eighteen years of age and who are the founders
or owners of a global project to be implemented using Chile as a platform.
Natural persons, will be able to participate in one of the following categories:
Team Leader (only one):
Is the natural person, duly specified during the application process as the beneficiary, who must
act in name and representation of him or herself and of the executors, as the person responsible before Corfo.
Team members (optional):
Optionally, the participation of up to two natural persons who form part of the founding team
and who are duly specified during the application process may be considered. Elimination or substitution of an executor will have to be approved by the allocator authority.

 

Benefits:

  • Foreign teams will be provided with a one year working visa. All teams will have access to the Start-Up Chile community which includes up to $300,000 USD in perks such as Microsoft BizSpark, Facebook Start, Amazon Web Services and many others.
  • All startups are able to use our central co-working space for up to 9 months after their arrival to the program, free of charge.

Equity free money

  • The startup will receive funding 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.
  • Chilean applicants can apply for an additional $10MM Chilean pesos, if they reside outside of Chile and hold a postgraduate degree from a top foreign university.
  • Startups are also eligible to apply for an additional $10MM Chilean pesos to develop their enterprise in other cities out of the Santiago, for an additional period of 6 months after their initial stage.

Accelerations & 6 month experience

  • During your 6 month experience in Chile, Start-Up Chile will accelerate and support your business.
  • You will also be a part of an inclusive and energetic environment with other like-minded entrepreneurs to have the experience of a lifetime.
  • We have built this program to help you to accelerate your business.
  • Also, Start-Up Chile is here to be sure that you will have a life time experience in Chile, the best country in Latam for startups.

Application Procedure:

To apply you will need to submit an application using our online platform. The application includes questions about leadership, the team and your motivations. In addition, you will need to submit a 90 seconds video and have a referee outline why you and your team are best suited to tackle your problem.

Video

Startup Chile ask that startups create a 90 seconds video including: What problem/pain are you solving?, What solution are you proposing to this particular problem, why does it have a global reach?, Why is this unique? and where is the technology that makes it highly scalable? The founder must be in front of the camera. We do not accept animated videos.

Recommendation letters

You only need to provide the e-mail address of your reference. Once you submit their email we will prompt them via a notification to write your recommendation! Its that simple. The recommendation must be posted before the deadline! if not, the application will not be accepted.

Timeline

  • Application Deadline: January 30th 2018
  • Results: May 4th 2018
  • Start: June 25th 2018

For More Information:

Visit the Official Webpage of the Start-Up Chile Seed Program Generation 20 

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