Santiago has one of the world’s most innovative innovative government initiative’s: Start-Up Chile. The program is designed to attract global startup talent to Chile. It provides 100 curated startups with ~$30,000 USD in equity free funding, a one year temporary visa, office space, and opportunities for mentoring and coaching. Numerous talented entrepreneurs have relocated to Santiago to take advantage of the program, and this has resulted in an osmosis of valuable entrepreneurial skillsets. While many of the entrepreneurs choose to stay after the end of their 6 month program, plenty still return to their home countries or leave for other markets. Chile is unique in that it is the only economically developed nation on the continent, having joined the Organisation for Economic Co-operation and Development (OECD) in 2010. This makes Santiago a great entry point to Latin American markets, despite being located in the relatively small market of Chile. When compared to Argentina, there are few Chilean startup exits to speak of, and later stage startups find it difficult to receive funding because investors are discouraged to invest in highly illiquid startups when they can receive outsized returns in real estate.
These businesses offer industry expertise and are a source of startup talent and potential customers. They help fuel the local startup community.
Up and coming startup
Acquired for an undisclosed sum by
Up and coming startup
Up and coming startup
Rocio is the Executive Director of Start-Up Chile, the government initiative to attract global startup talent, where she was previously a mentor. Previously, she was an innovation entrepreneurship advisor to the Pontificia Universidad Católica de Chile.
As the Executive Vice President of CORFO, Eduardo is responsible for executing government policy relating to entrepreneurship and innovation. The most notable policy being the implementation of the Start-Up Chile program.
Alejandra is the founder of several startups, including Medullary, Kaurl, and Stgo Space Maker. She continues to be an active mentor and coach for the community.
Juan serves as the Head of Chile Global Angels, an international angel investor network based. They look for early stage startups in a broad range of industries.
Camila is the Associate Editor for PulsoSocial, the leading online publication reporting on entrepreneurship and innovation in Latin America.
Magma Partners is a seed stage venture fund. As a Founding Partner, Diego is responsible for the evaluation and assessment of startups, along with mentorship after the initial investment.
Gert is the CTO of Acid Labs, a boutique software development firm, an impactful company in the local tech scene. In addition to this role, he is a computer science professor, Startup Weekend facilitator and investor/technical advisor for many startups, such as CAAAPITAL, a firm that simplifies cross border infrastructure investing.
Oliver is a General Partner at Chile's most prolific early and late stage venture firm, InverSur Capital. The firm primarily invests in early stage and Series A stage companies located both in Chile and the United States.
Roberto is the President of Digevo, a firm that connects companies to startup communities to produce "effective innovation". He is also the founder of dozens of startups, and holds board seats on several companies.
Nazca Ventures is a venture capital fund created by entrepreneurs for the exclusive purpose of investing in Latin American startups. Alan is both a Cofounder at Nazca Ventures, and a Board Member at entrepreneurship NGO Endeavor Chile.
Chile becomes the first South American nation to join the Organisation for Economic Co-operation and Development (OECD), marking an important point in the development of the Chilean economy.2010
Groupon acquires ClanDescuento for $30 million, becoming the Chilean startup ecosystem's first high profile exit, and providing ample encouragement to future entrepreneurs.June, 2010
Overseen by the economic development agency CORFO, Start-Up Chile was launched to reduce the country's dependence on commodities and encourage innovation and entrepreneurship. The initiative provides $40,000 USD, office space, and a residency visa to startups that move to Chile.July, 2010
With operations in Argentina, Colombia, Mexico and Uruguay, NXTP Labs is the most active early-stage fund for tech companies in Latin America.2013
PayPal acquires Multicaja for an undisclosed sum as a way of expanding the company's Latin American operations, and the company becomes one of the first Chilean success stories.2013
Nazca Ventures raises $15 million fund to invest in primarily Chilean startups. The VC was founded by entrepreneurs with the belief that Latin America is ready to take an important role in the global entrepreneurial ecosystem.October, 2013
Microsoft opens its Innovation Center in Santiago. Like others Innovation Centers around the world, it consists of an incubator for early-stage IT and software-related companies. This signals international interest from global corporations in Chile's startup ecosystem.2014
Magma Partners, founded by Chilean entrepreneurs, launches both a seed-stage investment fund and an accelerator. The firm focuses on B2B companies that target the Latin American market.2014
Start-Up Chile launches its SCALE Fund, which made follow-on investments in nine companies that had gone through the Start-Up Chile initiative. The companies received $100K each in equity-free funding. In return, the founders agreed to keep their companies in Chile for at least a year and serve as mentors to three Chilean startups while they’re there.May, 2015
Australian auto classifieds website Carsales.com acquires a major stake in Chileautos as a step of its expansion into the Latin American used car market.March, 2016