Contxto – Renowned Start-Up Chile wants to assist female entrepreneurs in turning their business ideas into reality. To accomplish this, the group is actively seeking women founders to participate in its four-month-long pre-acceleration program, S Factory.
The purpose of this 10th annual accelerator event is to allure foreign entrepreneurs with high-impact projects to Chile. This is part of the country’s continual bid to become Latin America’s premier innovation and entrepreneurial hub.
Participants will receive up to US$25 thousand in equity-free funding throughout the four-month journey. Other perks will include a year-long work visa plus complimentary co-working space, according to the Chilean government-led initiative.
The business accelerator for female entrepreneurs happens twice a year with batches of 20 to 30 startups in each round. For this latest cycle, applications will close on May 28 and participants will be announced on June 21. The program itself will begin on August 19.
Some of the requisites are that startups must be early-stage startups, specifically under one year old. Projects must also be led by at least one person who is at least 18 years old and female-identifying.
Another stipulation is that applications must have the desire to expand and grow in the Chilean entrepreneurial ecosystem. Organizers are seeking precise expansion strategies and genuine interests in the country.
The newest cohort can expect to participate in plenty of workshops and networking with entrepreneurs from over 85 countries. There will be representatives from a variety of startup and corporate networks.
During the seventh generation of the S Factory accelerator, Deputy Director of Start-Up Chile Sebastián Díaz shared some encouraging words about the impact of the event. Specifically, female participation in the Chilean economy seems to be growing at a steady rate.
“Thanks to this program, the female participation last year has increased from 16 to 21 percent,” said the official. “With this, we increase the chances of success of the startups. Businesses led by women survive on average twice as long as those led by men. They also sell an average of 30 percent more. Also, with more female founders in our ecosystem, we will have a better innovative capacity.”
Other Start-Up Chile programs include Seed and Huella. Seed lasts for six months and supports companies with a viable product and early validation. Also lasting for six months is the Huella acceleration program that specifically supports projects with high economic, social and environmental impact.
Interested participants can apply here.