Deadline: 18-May-21
Applications are now open for Startup Chile Growth Program, a 12-month program for startups in a scaling stage.
The program looks for the best technological founders in the expansion stage of their businesses to take their high-impact startups to the next level and use Chile as a foundation and to hasten the occurrence of customer-validated and scalable companies that will leave a lasting impact on the Latin American ecosystem.
Their Growth program attracts global tech-based businesses in their expansion stage. Growth accommodates startups looking to scale their sales and expand to new markets using Chile as a platform.
Objectives
- General
- Generate socioeconomic impact in Chile, through the support of innovative technological enterprises that allow for the development and diversification of the national economic base through the financial support and acceleration services provided by Start-Up Chile.
- Specific
- Exponentially accelerate the sales growth of innovative technological enterprises.
- Attract and retain advanced human capital to the program’s supported enterprises.
- Increase capital invested into supported enterprises.
- Commercial expansion to international markets.
- Contribute to the growth of a sustainable, democratic, and diverse entrepreneurial ecosystem, that facilitates connections between entrepreneurs, investors, companies, and other organizations.
- Contribute to Chile’s position as a leader in innovation and technological entrepreneurship worldwide.
Funding Information
- Twelve-month program.
- Two cohorts per year. Up to 10-15 startups each.
- Equity-free funding of $75M CLP (Around $100K USD).
Expected Results
- Incorporation in Chile of companies with the intention of expanding operations in their country.
- Recruitment of advanced human capital.
- Connection of projects to the national ecosystem, through participation in meetings with potential investors and organizations with the intention of raising capital and/or generating new clients and partners.
- Sales growth and/or fundraising.
- Job retention in Chile.
Eligibility Criteria
- Startups selling between CLP 80M – 5800M
- The team leader must have at least 10% of equity in the company.
- The team leader must have exclusive dedication to the program and company (full-time job).
- The team leader must be in Chile for the program.
- They seek individuals who are partners or founders of companies incorporated in another country and want to use Chile as a platform to grow.
- They seek legal entities with profit purposes and are constituted in Chile with activities initiated in the SII.
- These companies must demonstrate sales invoiced of at least USD 100.000 and maximum of USD 1 million in the last 12 months.
For more information, visit https://www.startupchile.org/programs/growth/