The startup will receive an equity free fund of CLP $25MM (40,000 USD), 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.
During your 6 month experience in Chile, Start-Up 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.
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 USD in perks such as Microsoft BizSpark, Facebook Start, Amazon Web Services and many more.
The program starts on 4 February 2020.
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.
You may apply as either a Natural Person or as a Chilean Legal Person. 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.