Seed, the acceleration program for startups who want to expand from Chile to the world, will have a new generation of global entrepreneurs. The winners get an equity free fund of 25 million pesos, a workspace, and an acceleration process to grow their business.
Startups from 26 countries will be part of the new generation of startups of the No. 1 accelerator in Latin America. The selected ones are 73 projects that have less than 3 years of development but that have the necessary traction to transform their businesses on a global scale.
The selected startups will receive 25 million pesos (USD $ 40,000 app) and a complete acceleration process, which includes mentoring, pitch training and workshops among other activities. All foreigners also receive a work visa for one year, so they can grow their business from our country. In addition, and as a novelty, this will be the first generation that may apply for an extension to access another 25 million pesos once the initial program ends.
The selected startups are mostly Chilean (34%), followed closely by the rest of Latam with 36%, which has maintained the trend of the last processes where the locals have occupied the highest percentage of the slots. “With these numbers, we can see a change in the entrepreneurial culture, not only in Chile but in Latam. This meets one of the main objectives of Start-Up Chile at the time of its foundation, which was to attract global talent to inspire Chileans and change their way of doing business: move from a local and traditional mentality to a global and innovative one “, comments Sebastián Díaz, CMO of Start-Up Chile.
Regarding the industries, the chosen startups focus mainly on SaaS, followed by Biotechnology & Health and Retail, Marketplace & E-Commerce. In relation to their business model, 46% have a Business to Business (B2B) structure and 20% Business to Client (B2C). The next applications for the Seed program will be from July 17 to September 4 of this year.
Original Text in Blog:
Found in Startup Chile Site: