Deadline: 2 June 2020
Start-Up Chile’s Seed program, previously called “Start-Up Chile” is the acceleration program born in 2010 with the objectives of making Chile a center for innovation and entrepreneurship in Latin America and of creating an ecosystem of technological entrepreneurship.
The program seeks to generate socioeconomic impact in Chile, through the acceleration of innovative technological ventures that allow for the sophistication and diversification of the economic matrix. This, along with the objective of attracting and accelerating technology-based entrepreneurs (both Chilean nationals and foreigners) with access to global markets that see Chile as an asset, increases the economic impact in Chile of the ventures supported by the program.
TSF hopes to increase female participation in high-impact technological ventures by enhancing skills / knowledge to undertake and lead, in order to reduce gaps between technological ventures led by men versus women, in the idea phase and up to one year of development.
- Create and pre-accelerate technological enterprises with global growth potential led by women.
- Develop and strengthen leadership and business development skills.
- Contribute to the creation of a sustainable, democratic and diverse entrepreneurship ecosystem, facilitating connection between entrepreneurs, investors, companies and organizations.
The Sponsoring Entity will receive, by overhead, a payment based on the supervision, follow up and administration of the project, prior to evaluation by Corfo.
- The amount of Overhead assigned per project may not exceed $ 2,500,000.- (two million five hundred thousand pesos).
- In case of project extension according to modality No. 1 “TSF Extension”, in accordance with the provisions of number 11. below, the additional Overhead per project assigned to the Sponsoring Entity may not exceed $ 1,500,000.- (one million five hundred thousand pesos).
- The duration of the projects must be 4 months, which may be extended only once and for up to 1 additional month, following a justified request from the beneficiary.
During their participation in the Program and during the execution period of the project, it is compulsory for the Beneficiary, at the very least, to participate in the following activities:
- Execution of projects in Chile.
- Carrying out activities necessary for the fulfillment of the goals proposed in the projects.
- “Intro Day“: Presentation of the project, following the requirements specified by Corfo, in order to identify the specific stage of development. This presentation will be made at the beginning of the project execution period, on the date duly informed to the beneficiary.
- “Pitch Day”: Presentation of the project, following the requirements informed by Corfo, in order to determine the progress in its development. This presentation will be made before the participants of the Program and representatives of Corfo, approximately halfway through the project execution period, on the date duly informed to the beneficiary.
- Attendance at the induction presentation on the TSF Program (Orientation Day), in which the team, the acceleration process and workshops on accountability will be presented and explained on the date duly informed to the beneficiary.
- Other activities of the Start-Up Chile Program that are catalogued as obligatory by Corfo, that will be communicated with due notice to the beneficiary.
- Must be over 18 years old.
- They must be for profit legal entities, incorporated in Chile.
- At least one of the founder has to identify with female gender.
- Founder with just an idea and the right team to execute it are suitable to apply, as well as team that have already built a basis version of a prototype. They are seeking early-stage projects to support which are still in their first 12 months.
- Progress to a new phase of development of the enterprise (in this sense: from prototype to minimum viable product, from minimum viable product to validated product, from validated product to product with sales or capital raising and from product with sales and/or capital raising to international scalability).
- Leadership skills and techniques related to the development of businesses that allow the growth of the enterprise.
- Connection of the enterprise with the national ecosystem, attending meetings with potential investors and organizations, with the intention of raising capital and/or generating new clients and partners.
For more information, visit https://www.startupchile.org/programs/the-s-factory/