Chileans become mentors at global business incubator

The Founder Institute seeks to professionalize experiential knowledge in business with the help of Chilean entrepreneurs.

Over 20 business entrepreneurs – successful portfolios in hand – entered as mentors at the Founder Institute (FI), one of the largest incubators and contact networks in the world.
Seven of these entrepreneurs are Chileans who, after going through a four-month mentoring program in 2011, graduated  to enter this special program.
Iván Vera, CEO at Innspiral, Elevaglobal and The
Foodlinks, Daniel Undurraga, creator of Groupon Chile and Leonardo Prieto from Betazeta, are just a few of the Chileans who have joined forces with this project to share their experience as local entrepreneurs, and help consolidate international business networks.
David Alvo, a civil engineer and one of the Chilean mentors, created LookUp, a website that helps customers compare and choose the best cell phone plan for them.
“When the client finds the best one, we give them the possibility of acquiring it,” he explained.  “The cell phone companies pay us for each client we send them, thus becoming a sales channel.”
His company is just one of many unique and innovative businesses that have emerged from intrepid Chilean entrepreneurs.
Tim Delhaes inaugurated the initiative in Chile in 2011. Delhaes is a social entrepreneur and the creator of First Tuesday and Tigabytes. He believes that the web has the capacity go far beyond its current use.
“The art of mentoring is part of the business culture. What we’re doing here is making it professional and creating mechanisms that allow for mentors to earn money,” he said.
With just three years of existence, the FI already operates in 24 cities and has integrated over 500 mentors to  its ranks. Globally, the organization has an ambitious plan of expansion.  Today there are around 500 projects being developed. However, their goal is to incubate 1,000 projects per year.
Chile’s involvement in this project is a clear indication that the  business sector in the South American nation the rise. In addition, it is apparent that Chilean entrepreneurs are playing increasingly influential roles abroad.