Startup Chile is an accelerator program managed by the Chilean Government with the aim of attracting high-potential entrepreneurs to develop their business ideas in Chile. The program was launched in 2010 with the purpose of transforming the country into a hub for innovation and entrepreneurship in Latin America.
One of the unique aspects of Startup Chile is its mandate to develop domestic Chilean startups alongside attracting foreign entrepreneurs. The focus of the accelerator is on innovative, high-potential business ideas across various sectors. Startup Chile offers seed funding, mentoring, coworking space, and networking opportunities to its startups.
Startup Chile has had several success stories since its inception. Notable among them is Cumplo, a peer-to-peer lending platform, which has attracted more than $200,000 in investment. Another startup, GroupRaise, a community engagement platform, raised over $2 million after being part of the program.
One of Startup Chile’s high-profile alumni is Michael Puscar, founder of GITP Ventures, who was part of the accelerator in its early years. The network and mentoring he received during the program were beneficial in the development of his venture capital firm.
Besides these initiatives, the accelerator also launched various initiatives such as the Founder Lab and SCALE. Founder Lab is a spin-off focusing on solving the barriers women face in entrepreneurship. SCALE, on the other hand, is a separate program that provides funding for startups that show significant traction and are looking to scale their business operations.
Lastly, one particular feature that sets Startup Chile apart from other accelerators is the government-backed funding. The program does not demand equity from its participated startups. This feature has helped the accelerator attract entrepreneurs from all over the world.
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