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Growth to Impact
July 27 @ 8:00 am - September 17 @ 5:00 pm
Understanding the context of the health crisis in which we find ourselves, economic recovery for the next few years is essential. Accordingly, we need to promote startups, companies that use
technology and innovation to solve problems with a scalable business model and high growth potential.
In this way, we will be boosting these high-impact businesses that are capable of generating employment quickly. Moreover, U.S. research indicates that startups account for about 4% of
companies and are responsible for 70% of jobs. At the same time, a study conducted by the Universidad de Chile states that these high-impact businesses are more efficient in creating fields of
employment and generating sales than traditional companies.
According to data from Start-Up Chile’s portfolio, the 1,960 enterprises supported during its ten years of existence have generated 15 thousand new jobs and accumulated sales of US$1.2 billion
worldwide. Based on the study conducted by Corfo together with Wayra and IESE Business School, although Chile stands out as the fourth country with the most corporate venturing initiatives in Latin America, we have one of the worst levels in the continent in terms of corporate investment: only 4% of large companies invest in startups. However, in recent years, venture capital investment has tripled compared to 2019.
Startups also enable the development of new markets, or completely transform traditional ones, introducing products/services that change the global paradigm. Often, high-impact ventures
generate new opportunities for large companies, inspiring competition, and breaking into the economy. Now more than ever is the time to empower startups, as they play a crucial role in Chile’s economic development, acting as drivers of growth and boosting the market. Although the current context implies multiple challenges, now is the time to bet on scalable and dynamic businesses, thus promoting the country’s productivity.
For all these reasons, Start-Up Chile has launched Growth, a line of financing that seeks out tech-based entrepreneurs in the expansion stage of their businesses to take them to the next level.
● 12-month support program
● 50% co-financing of the project (with a maximum of up to CLP 60 million)
● Access to advisory sessions with the best local and international mentors
● Training in capital raising and connection with investment funds
● Network access for business expansion (national and international)
● Support to improve the management of your team
Legal entities for-profit purposes, incorporated in Chile and with the initiation of activities or natural persons, who are partners and/or founders of companies incorporated in another country that use Chile as a platform. They also need to execute a technology-based project with high growth potential, with the initiation of activities before the Chilean Internal Revenue Services (SII)
The potential beneficiary must demonstrate that the global project has net sales invoiced in the 12 months before the date of the application process of at least $80,000,000 (eighty million Chilean
pesos) and up to $800,000,000 (eight hundred million Chilean pesos). The person designated as the leader must have at least 10% of the business’s shares, participate in the program in Chile, and be dedicated exclusively to the development of the project.
Application process | July, 27th (17:00 hrs.) until August, 17th 2020 (17:00 hrs.)
Webinar | July, 31th 2020 (15:00 hrs.)
Evaluation process | August, 18th until September 16th, 2020
Results |September, 17th 2020 (during the day)
Between 10 and 15 businesses
For more information at www.startupchile.org or [email protected]