Start-Up Chile (also known by its acronym, SUP) is a seed accelerator created by the Chilean government, based in Santiago de Chile. It was founded in 2010 with the goal of increasing the number of national and international ventures that are generated in the country.
This entity provides equity-free investment to tech based startups from around the world. To date, the accelerator has supported projects from 85 countries including Chile, the United States, India and Brazil, among others. [1][2][3][4][5]
Objective
The scheme's stated objective is to turn Chile into the innovation and entrepreneurship hub of Latin America by attracting the world's best and brightest entrepreneurs to bootstrap their startups in Chile.[6]
The program
The program is managed by CORFO, the Chilean Economic Development Agency, with the mission of encouraging entrepreneurship and innovation to improve productivity in Chile.
Start-Up Chile launched in 2010 and nowadays provides funding to tech based startups form all over the world based on the development status of their businesses.
The project is divided into three main programs:
Build → $15M Program focused on early stage startups, seeking to leave with a minimum viable product (MVP)
Ignite → $25M Focused on startups that are looking for their product-market fit
Growth → $75M Focused on established startups that are in the scaling stage
As a transversal initiative, the accelerator aims to reduce the gap that exists in the entrepreneurship and innovation ecosystem through various community activities, visibility and quotas in each generation.
