Blog Post

The entrepreneurship ecosystem in Chile

The popularity of entrepreneurs in Chile

 

Today there are more and more entrepreneurs in Chile and one of the reasons is because it is fashionable to launch a startup. However, four years ago the situation was very different, if one said that he launched a startup people would think he is unemployed. This popularity has been driven mainly by the efforts and helps of the Chilean government and by the creation of organizations such as the Entrepreneurs Association of Chile. Therefore the Chilean entrepreneurial ecosystem is known as Chilecon Valley.

 

Chile's economic and political benefits for entrepreneurs

 

CHILE is considered as one of the best countries in Latam to do business both for the public aid that entrepreneurs receive and for their economic and political stability. Chile has little corruption and contracts are respected. This is undoubtedly a relevant advantage that generates confidence and is what has stimulated the arrival of much foreign capital.

 

On the other hand, it has a very open economy. Being a small country they are looking for a market outside, they are great exporters and in fact they have so many trade agreements that are at the head of the world in this sense. Chile is a small market and many startups see this country as a springboard to access the rest of Latin American countries.

 

As for the legal, tax and logistics issues to create a startup, Chile benefits from very simple procedures, which in other countries can be a complex bureaucracy. In Chile, it is possible to create a company in one day, through the web Tu empresa en un día.

 

SPA (Stock Company) which is considered as the ideal to launch a startup and be an entrepreneur

 

Entrepreneurship programs

 

This entrepreneurial ecosystem of Chile has a very important support from the government, and has organizations like CORFO that develop entrepreneurship and innovation.

CORFO's main entrepreneurship program is Startup Chile, which has already brought to the country more than 2,000 entrepreneurs from all over the world. It organizes about 3 calls a year, and anyone can postulate even having only one idea or already with a more developed enterprise.

 

Depending on the state of evolution of the startup, Startup Chile offers 3 programs

  • S Factory: 15,000 USD
  • Seed: $ 30,000
  • Scale: USD 90,000

What this program offers is summarized in 4 main points:

  • A financial aid in dollars in equity free
  • A workplace in the coworking center of Telefónica Open Future_ Chile 
  • Work visa to be able to live in Chile for 6 months
  • An extensive network of contacts

The only thing that Startup Chile asks for in return is that each one of those entrepreneurs that enters the program becomes ambassador of the enterprise in Chile.

2 / 4