Start-Up Chile
 | |
| Industry | Seed acceleration |
|---|---|
| Founded | 2010 |
| Headquarters | Santiago, Chile |
Start-Up Chile (also known by its acronym, SUP) is a seed accelerator created by the Chilean government, based in Santiago de Chile. It was founded in 2010 with the goal of increasing the number of national and international ventures that are generated in the country.
This entity provides equity-free investment to tech based startups from around the world. To date, the accelerator has supported projects from 85 countries including Chile, the United States, India and Brazil, among others. [1][2][3][4][5]
Objective
[edit]The scheme's stated objective is to turn Chile into the innovation and entrepreneurship hub of Latin America by attracting the world's best and brightest entrepreneurs to bootstrap their startups in Chile.[6]
The program
[edit]The program is managed by CORFO, the Chilean Economic Development Agency, with the mission of encouraging entrepreneurship and innovation to improve productivity in Chile.
Start-Up Chile launched in 2010 and nowadays provides funding to tech based startups form all over the world based on the development status of their businesses.
The project is divided into three main programs:
Build → $15M Program focused on early stage startups, seeking to leave with a minimum viable product (MVP)
Ignite → $25M Focused on startups that are looking for their product-market fit
Growth → $75M Focused on established startups that are in the scaling stage
As a transversal initiative, the accelerator aims to reduce the gap that exists in the entrepreneurship and innovation ecosystem through various community activities, visibility and quotas in each generation.
Alumni companies
[edit]- Admetricks, acquired by Similarweb
- Babytuto, acquired by Walmart
- Autofact, acquired by Australiana Car Group
- Cabify, a ridesharing company that operates in Spain and Latin America.
- Méliuz, a Brazilian coupon app.
- Betterfly
- NotCo, a Chilean food-tech company that creates plant-based alternatives to animal-based products.
- Spoken, an American software company that develops an augmentative and alternative communication app. Winner of Start-Up Chile's 13th annual Demo Day.[7][8]
See also
[edit]References
[edit]- ^ Geromel, Ricardo (2012-10-10). "Start-Up Chile: Attracting Bootstrappers from Harvard, MIT, Oxford, Uganda, Latvia..." Forbes. Retrieved 17 November 2012.
- ^ Keppel, Stephen (2012-10-10). "How a Chile Startup Initiative is Changing Latin America". ABC News. Retrieved 17 November 2012.
- ^ Wadhwa, Vivek (11 April 2012). "Want More Startups? Learn From Chile". Bloomberg. Bloomberg BusinessWeek. Archived from the original on April 13, 2012. Retrieved 17 November 2012.
- ^ Manning, Katie (7 December 2011). "Starting up in Chile, not Silicon Valley". BBC News. Retrieved 17 November 2012.
- ^ Williams, Alex (2012-10-13). "How Start-Up Chile Is Attracting Startups From Singapore, London, and San Francisco". Retrieved 17 November 2012.
- ^ "Core Values - Startup Chile".
- ^ Sebastian Diaz, Language App wins Start-Up Chile Demo Day, archived from the original on 2016-01-12
- ^ "How Start-Up Chile Put Their Ecosystem on the Global Map and Became a Benchmark for Other Countries". HuffPost. 2 February 2016. Retrieved 2 February 2024.