On Tuesday, February 15th, 2011 at 00:00hrs, Start-Up Chile has officially opened the 2011 application season with the first round of applications being accepted from February 15th through March 15th, 2011. Powered by YouNoodle, a San Francisco based business competition platform, the goal of this application process is to select 100 teams of entrepreneurs to participate in Start-Up Chile.
Criteria the applicants will be judged on include:
• quality of talent and commitment of the founding team members,
• international market potential of the project, and
• value of the applicant’s affiliated networks that will be injected into the Chilean entrepreneurship ecosystem. Judges determining the scoring of said criteria will be industry experts, venture capitalists, and entrepreneurs with strong backgrounds in executing and advising startups.
Applications must be submitted via the Start-Up Chile website, www.startupchile.org/apply, where further information regarding application and participation in the program, including the legal terms and conditions, can be also be found. Submitted items must be completed in English by only one applicant per startup (who will then act as the legal beneficiary of the $40,000 subsidy). The submission deadline will be on March 15th, 2011, judging will begin on March 22nd, and approved applicants will be advised of their status on the 25th of April, 2011. To achieve the goal of attracting up to 300 approved projects, two other application processes will be opened throughout the duration of 2011. They are tentatively scheduled for July and October.
We wish the best of luck to all applicants and if there are any questions, please review all the information provided on the Start-Up Chile Apply site.