Start-Up Chile

• Author: Maximiliano Santa Cruz S. - Eduardo Bitrán C. - Inti Núñez U.
• Position: National Director, National Institute of Industrial Property - Executive Vice-President - Entrepreneurship Manager, CORFO, Chile
• Pages: 24-28

p. 24 2014 | 5

S T A R T- U P

CHILE

By Maximiliano Santa Cruz S.,

National Dire ctor, National Insti tute of

Industrial Property, Eduardo Bit rán C.,

Executive Vice-President, and

Inti Núñez U., En trepreneurship Ma nager,

CORFO, Chil e

In a bid to transform Chile into a hub for innovation i n Latin America, the Chilean

government launched the Start-Up Chile program in 2010. This ambitious initiative,

a rst in global innovation poli cy, has attracted considerable global attentio n. The

initial aim of the program – its focu s has since broadened

–

was to attract young

entrepreneurial ta lent from around the world to Chile to catalyze the develo pment of

home-grown, high-grow th start-ups; this with a view to strengthening Chil e’s long-

term economic growth pro spects. Rolled out under the direction of COR FO, Chile’s

development agency, this novel busine ss accelerator program, now in its fourth year,

is being restructured to incre ase its economic impact on the national econ omy and

to strengthen the country’s entreprene urship culture and its innovation ecosys tem.

Under the pilot scheme, suc cessful applicants were of fered US$40,000 in seed

capital, a work visa and of ce space to launch their compan ies. The only require-

ment: spend 6 months working in C hile to establish their companies (there was no

requirement for the star t-up to begin activities in Chile) and engag e in innovation

Photo: iStockphoto © H ans Laubel