How to Apply for Start-Up Chile
Until November 29, startups that want to be part of the Corfo public accelerator program can apply to receive co-funding, mentorship, coworking space, and more.
Start-Up Chile, Corfo’s public accelerator, has opened a new application process for technology-based enterprises seeking to grow their businesses through the acceleration programs Build, Ignite and Growth (BIG).
Startups from anywhere in Chile and around the world can apply until November 29th if they want to be part of the BIG 9 generation. Those selected will receive equity-free co-financing (i.e., free participation), connections with key players, and 4 to 8 months of intense acceleration work.
Three programs: BIG
Start-Up Chile offers three program alternatives for ventures, depending on the stage of development they are in.
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- Build: a 4-month program that offers co-financing of $15 million (Chilean pesos) to support the acceleration of early stage startups, that is, those that have from a validated idea to an initial prototype.
- Ignite: also 4 months long, it provides a fund of $30 million (Chilean pesos) and is aimed at those startups that have a minimum viable product and are seeking to achieve product-market fit.
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- Growth: For companies that are in the expansion stage of their business and capital raising, which extends for 8 months and commits a support of $75 million (Chilean pesos).
How to Apply
The applications are now available at www.startupchile.org and www.corfo.cl until next Friday, November 29, at 13:00 hours. In addition, in order to resolve questions and inquiries, the accelerator will hold an explanatory webinar on Wednesday, 13th (in Spanish) from 11:00 hours on YouTube.
“We are looking for entrepreneurs who are using technology to solve problems, positively impact people’s lives and transform industries. We want to give them support so they can continue to grow, expand to other markets and contribute to a diversified economic development,” stated Javiera Araneda, the manager of Start-Up Chile.
In addition to co-financing, the selected companies will have access to other benefits, such as physical workspace (coworking), advice from the Start-Up Chile Mentor Network, and the opportunity to connect with large companies for early feedback, business opportunities, and collaboration.
To foster female participation in the ecosystem, Start-Up Chile has a series of measures as part of its strategy Female Founder Factor. Among them, at least 50% of the selected projects from Build must be led by women and that entrepreneurs from Ignite and Growth can access a higher percentage of co-financing from Corfo (90% and 60%, respectively).
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