The Seed program attracts world class entrepreneurs to do business in Chile. Seed accommodates early stage entrepreneurs who will strengthen the enterprise environment, support the culture of innovation in Chile and connect with Latam to grow from our region to the world.
Application Process closes: August 27th, 5 pm (GMT-4/Chilean Time)
Results: November 29th, 2019
Program Starts: February, 4th, 2020
Next application process for Generation Seed24: January 7th, 2020
What the programme offers?
Equity free money
The startup will receive an equity free fund of CLP $25MM, which is towards 90% of total program costs and through either reimbursement or an advance payment plan. The founder/startup must provide 10% of the remaining funding. Applicants can apply for an additional CLP $25MM to stay in Chile, which will also give them an extension of the program to 14 months total.
Accelerations & 6 month experience
During your 6 month experience in Chile, Start-Up Chile will accelerate and support your business, through a full acceleration program + access to both national and international corporate network, investors, mentors, and global partners to scale to new markets. You will also be a part of an inclusive and energetic environment with other like-minded entrepreneurs to have the experience of a lifetime. The project duration could be up to 9 months, which may be extended only once and for up to 1 additional month.
Foreign teams will be provided with a one-year working visa, free coworking space, and a full soft-landing process. All teams will have access to the Start-Up Chile community which includes up to $100,000 USD in perks such as Microsoft BizSpark, Facebook Start, Amazon Web Services and many more.
In your application, do not forget!
To apply you will need to submit an application using our online platform. The application includes questions about leadership, the team, and your motivations. In addition, you will need to submit a 90 seconds video and have a referee outline why you and your team are best suited to tackle your problem.
Startups are asked to create a 90 seconds video including: Does the startup solves a global problem, a problem of a certain country or a local problem, and why? What is the product or service, its attributes, and the reasons that make the project a breakthrough innovation? The founder must be in front of the camera. We do not accept animated videos.
Upload your recommendation letter, signed by the recommender! It’s that simple. The recommendation must be posted before the deadline! if not, the application will not be accepted.
What do is asked in return
You will be asked to go give back through our Founders Lab
Criteria to qualify
You may apply as either a Natural Person or as a Chilean Legal Person. A Chilean Legal person is suitable for Chilean companies. In this case, the company will be the beneficiary of Start-Up Chile funding. Foreigners with an incorporated company outside of Chile must apply as a Natural Person. The person named on the application as a Natural Person will be the beneficiary of funds. This information does not affect the outcome of the evaluation process!
Unfortunately, the programme does not accept consulting companies, export/import companies and franchises as they are not easily scalable globally.
Less than 3 years
Your startup cannot be older than 3 years. We are looking for early start ventures.
Your team leader must be 100% dedicated to the project. Optionally, the participation of up two natural persons who form part of the founding team and who are duly specified during the application process may be considered. These terms apply to Chilean participants also.
You will need to explain why you are coming to Chile to do business and how you will use Chile as as a platform to go global.
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