The CORFO’s entrepreneurship program reveals “The S Factory”, a $10MM CLP (about USD $16,000) seed fund specifically designated for startups led by women. The program will allow selected startups to move to Chile and develop their ideas and prototypes alongside current program participants.
Since women’s leadership in high-impact startups is still low compared with traditional small and medium business (SMB), Start-Up Chile created a new entrepreneurial program called The S Factory, a pre-accelerator specifically for female founders. Although female entrepreneurship is better in Chile than in other countries, there are still strong personal and cultural barriers that make it difficult to start a business led by female entrepreneurs.
The 12-week program will be powered by Start-Up Chile, so founders that are accepted will become part the largest and most diverse startup community in the world. Moreover, selected startups will receive 10 million Chilean pesos (about USD $16,000), courses, mentorship and pitch training to accelerate their ideas. Additionally, founders from outside of Chile will be granted a one-year working visa to come to Chile.
To qualify for selection, startups must be in a concept or prototype stage with less than 6 months of development and be led by a female founder.
Applications for the first generation of the program will be open from June 22nd to July 6th and will accept a total of 15 startups. The application is open to startups from all countries.
For more information about The S Factory visit http://www.thesfactory.org.
About The S Factory
The S Factory is a pre-accelerator where female leaders turn ideas into functional prototypes. We are looking for projects that are technology related with high impact potential to join us for a 12-week experience to learn all the basics to get you started in the startup world. Plus, participants will get the opportunity to live the amazing experience of learning side by side with Start-Up Chile, the largest and most diverse startup community in the world. The selected applicants will receive $10MM CLP (16.000 USD), along with an intense weekly pre-acceleration program that includes courses, mentoring, pitch training, among others. This program is focused on projects that are in concept stage or prototype stage with less than 6 months of development.
12 week program
Weekly sessions from experts to learn important skills about building startups. Learn about customer development, investment, product roadmap, online marketing, to name a few. We will make sure you know everything you need to build a scalable company.
Working together with other entrepreneurs builds momentum. Startups meet in small groups to receive rapid feedback from peers and to leverage from the experience of other founders. These weekly encounters also increase accountability and promote brutally honest learning.
MENTORING & NETWORKING
We have got some of the best mentors that are eager to help founders with their challenges. Founders will have weekly meetings with mentors to help them create a successful startup, and will be given ample opportunities to network and connect with relevant people from the industry.
It ends with a bang!
INVESTOR LAB: At this Pre Demo day event, founders will present their financial projections and future plans for their startup to a group of real investors, but in a safe and guided environment. This is a simulation of what a real meeting with investors feels like.
DEMO DAY: An opportunity for founders to pitch their startups to leading angel investors and accelerators to take their startups to the next level.