The objective of Start-Up Chile, a pilot program launched recently by the Ministry of the Economy, is to offer the best conditions to dozens of world-class entrepreneurs so that they can implement their innovative projects in this country.
Originally conceived to start with a sum of more than US$ 2 million to finance 25 initiatives, the plan is visualized as a starting-point for all those who lack, in their own countries of origin, the favorable conditions that Chile offers to start up a business.
“The idea is to attract advanced human capital to Chile, offering people a fast track to obtain a temporary one-year resident’s visa and US$ 40,000 (or 20 million Chilean pesos) to cover their expenses for six months”, states the director of Start-Up Chile, Diego Alcaíno.
Those who are selected will be put in contact with universities, business incubators, investors, local entrepreneurs –with a strong emphasis on ‘cross-fertilization’– and tutors to help them accelerate the process of giving shape to their company.
“One of the most important aspects of this program is that all entrepreneurs should work with Chilean professionals who are internationally renowned for their excellent background”, adds Alcaíno.
At the same time, the program contemplates providing advisory services to help make the experience smoother, such as opening bank accounts, management of the legal and tax issues and even providing office space.
Although Start-Up Chile is originally directed at young foreigners completing their graduate studies or having recently completed them and with a project under their arm, these are not exclusive requirements, so that a Chilean national without a graduate degree can also have access to the program if his/her project is eminently innovative.
For further details about this initiative and to apply to the program, it is only necessary to access Start-Up Chile’s internet website at www.startupchile.org.