A Latin American acceleration and incentive program for startups has gained recognition on the global economic scene. Is he Chilean startupswhich, since its inception in 2010, has been promoting innovation among entrepreneurs from around the world, based on supporting the creation of companies with rapid growth potential.
From the outset, the public initiative showed promise for the Chilean economy and finally, the importance of innovation and entrepreneurship in the financial sector is being increasingly recognized. In this context, Startup Chile expresses its proposal: to make the country economic center of Latin Americaa kind of Silicon Valley of the region.
This is how Startup Chile works
The program focuses on promoting economic development in Chile and attracting entrepreneurs with potential Startups from all over the world. So far, participants from more than 60 countries have received the equivalent of $40,000 in support, a value that Startup Chile is offering to each selected company.
The government offers this money purchase without participation. In addition, entrepreneurs are granted an annual visa to work in Chile as they must stay in the country for at least six months.
By selecting projects from different segments, the government program sponsored by Production Development Corporation (CORFO) attracts entrepreneurs to a single location: all supported startups have theirs headquarters in Santiago de Chilecapital of the country.
In addition to the financial incentive, participating startups receive technical and relationship support, with mentors, a network of contacts and coworking spaces. To date, the program has supported projects by more than a thousand entrepreneurs and recruited individuals trained by recognized institutions such as Harvard and MIT.
Startup Chile: successful companies
With so many projects supported by the program, various startups step into the shoes of the successful projects. Get to know three companies that have found success with the help of Startup Chile.
A project by co-founders from Argentina and Switzerland, Safer Taxi is now an application available in various countries including the United States, Brazil and Chile. This allows users Request a taxi servicefollow the driver’s route and make the payment via smartphone to make the process safer.
It’s another example of a startup that received an incentive from the Chilean program. Currently, the company founded by French entrepreneurs is an application that Translate any language by voice in real-time, with a global community of interpreters.
Created by a Chilean, the service is available for web and mobile applications. This makes it possible Face and Image Recognitionuseful for companies that need to verify and validate data.
Inspiration for new programs
Having gained international fame, Startup Chile has been a source of inspiration for other countries that have launched similar initiatives Promote entrepreneurship and innovation.
An example is Startup Brazil, which was developed in 2013 by the Brazilian Ministry of Science, Technology and Innovation. Other examples are Startup Peru Y Startup Denmark.