Scale application process

Application Process

1) The program filters the applicants to validate that the applicants match the legal requirements to apply.

2) The program evaluates the companies considering the following criteria, scoring them from 1 to 5, and organize them through a ranking:

a. Sales during the last Month (35%): Net amount of sales during the last 12 months of the company according to the following:

Net Sales Amount Score
$ 0- $ 20.000.000 1
$ 20.000.001  –  $ 100.000.000 2
$ 100.000.001  –  $ 200.000.000 3
$ 200.000.001 –   $ 350.000.000 4
$ 350.000.001 –   $ 600.000.000 5

 

b. Private Capital Raised (35%) : Amount of private capital raised, during the last 12 months before the application.

Amount of Capital Raised Score
$ 0  –    $ 50.000.000 1
$ 50.000.001  –  $ 100.000.000 2
$ 100.000.001  –  $ 200.000.000 3
$ 200.000.001 –   $ 350.000.000 4
$ 350.000.001 –   and more 5

 

c. Video (30%): We ask all startups to provide a 3 minute video (max), explaining the business opportunity, the product or service, the market and the business model. Also you should introduce the team members and why are you applying to SCALE. Videos with only animations will be rejected. Videos longer than 3 minutes will get -1 points.

3) After the evaluation, the Entrepreneurship Committee of CORFO, decides on the best companies to advance into the second phase. The ones who are not selected will be notify of this and feedback will be sent to them.

4) For the second evaluation, the companies will have around 2 weeks to prepare for an open event in which they will have to pitch in front a board of external judges. For this event, the companies will have to participate in two Pitch Training sessions before the event, in order to prepare themselves. All of the companies must attend at least 1 of the pitch training sessions.

5) The Pitch Day, is an event where external judges from the mentor network and investor club of Start-Up Chile will be evaluating the companies considering the application information and the pitch from the company’s founders.

6) In the Pitch event, the judges will evaluate the companies considering the following criteria, scoring them from 1 to 5, and organize them through a ranking:

a. Solution (45%): This considers the evaluation of the level of innovation and the product or service. This also considers the definition of the problem, the size of the opportunity and the value proposition.

b. Pitch Quality (20%)

c. Team and collaborators (35%): This criterion considers the experience and technical capabilities of the team for a good execution of the project, their dedication to the business, their business networks, and strategic and commercial alliances.  Finally, includes if the founding team has specialized mentorship and the convenience of the ones financed by CORFO during the Scale program.

7) After the evaluation, the new ranking will be reviewed by the Entrepreneurship Committee who will decide on the best companies selected for a final pitch in front of them. This Pitch will take place 2 weeks after this decision.

8) The program once again evaluates the companies considering the following criteria, scoring them from 1 to 5, and organize them through a ranking:

a. Activities and Expected results (45%):  This criterion considers the current state of the business, the activities plan during the execution of the program, and the projected results.
Moreover, it will consider established milestones by the directing team after the 4th month period of the project, which will be reported according to the number 14 of the T&C of the program.
The strategic coherence of the investment plan will also be reviewed.

b. Business Model (15%): This considers the level of adjustment between the business model with the market, and its definition, the description of the client and users, its scalability and the potential growth in the market.

c. Impact (40%): This considers the impact of the business in the local industry and the target market. Also the problem or opportunity will be considered and the characteristics of the market.

9) In the final stage, the final companies will pitch in front of the Members of the Entrepreneurship Committee. These will be evaluated according to the application information and the pitch evaluation by the Entrepreneurship Committee members. Finally, the Committee will select the final companies to enter the program.

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