One of the top acceleration programs in the world.
Panagiotis Markantonatos, Saint Startup Co-founder
The program, which starts on February 5th, will last 6 months and its aim is for entrepreneurs to access equity-free funding, as well as great mentoring sessions, a wide network, and cool co-working spaces with other entrepreneurs.
This next program will enroll two batches, with more than 60 companies in total.
These selected startups will receive up to $50M Chilean pesos – around USD $80k – in funding. No equity involved, no drama.
Cool! How Can I Apply?
The call opens on January 24, 2019, and its requirements are as follows:
1. You don’t need to be Chilean, but you need a valid ID/Passport from
2. Your business can’t be consulting, export/import or franchises.
3. Your startup has to be less than 3 years old.
4. The employees of the startup, including its leader, must have a 100% commitment to the company.
5. You will have to explain why Chile is the right choice for your business and how it can be expanded globally.
6. You will have to send a 90-second video answering questions related to the product, the problem, and the solution.
7. You will need a letter of recommendation from a third party (i.e. a mentor).
What criteria do they use to evaluate aspiring startups?
Startups will have to go through a tough, but revealing, application process, consisting of three stages.
The jury and evaluators will take into consideration mainly five factors, including, composition, qualifications, and experience of the team members; Market and competitive advantage; Product or Service; Impact in Chile; Growth Potential.
What if I’m from another country and I want to participate?
The Seed program is not limited only to Chilean companies. On the contrary, it also seeks to attract foreign startups raising funds for their projects.
The Start-Up Chile staff assists foreign teams to soft land and helps them get a Chilean work visa for up to one year.
Apart from Seed, Start-up Chile has other interesting acceleration programs.
For example, the recently launched program, Huella, which is targeted to companies with social, environmental and economic impact. And, The S Factory, a pre-acceleration program for female founders. Both of these will start later in the year.
Finally, let’s not forget some great companies that have gone through Start-Up Chile’s world-class preparation, such as Cabify, The Moodie Company, and Glamit.
So get ready to get all your stuff together and submit your startup!
In case of any doubts, consult the Start-Up Chile’s FAQ.