On March 16th, Corfo, the Chilean Economic Development Agency, officially announced the pilot phase of the Global Connection program that will send 20 high potential tech-based entrepreneurs from Chile to develop their businesses in Silicon Valley in the Plug & Play Tech Center.
The program is part of the Government’s overarching initiative that, coupled with Start-Up Chile, the Fraunhofer Foundation, and the recently announced Mining Fund, seeks to further foster entrepreneurship and innovation in Chile. The goal of Global Connection is to send 120 Chilean startups to Silicon Valley through the program before 2014.
For the selected entrepreneurs, Corfo will finance Plug & Play’s incorporation fee, and a three month time period at the incubator worth nearly $12,000USD, while providing financial support for flights, housing, and insurance up to $4,000USD. The program includes access to the incubator’s vicinities, participation in investment funds, participation in University entrepreneurship programs, and access to Silicon Valley’s best mentor networks.
Two application rounds will held– the first having begun on March 7th and lasting until April 4th, while the second will commence in September.
For more information about the program or to apply to participate, please visit: http://www.corfo.cl/opensite_det_20110307103513.aspx.