This Tuesday, May 14th, we welcomed about 50 current and future female entrepreneurs for its first ever Open House. Why? To introduce them to our accelerator and more precisely to our Start-Up Factory (TSF) program. This first point of contact allowed our staff to get to know future candidates in TSF’s application process, taking place between Tuesday, May 14th and Tuesday, May 28th.
During the event, the female founders had the chance to discover what it is like working at Start-Up Chile, to get to know the huge open-plan workspace and the numerous meeting rooms. Attendees discussed their businesses with staff members and got to know the scouting team. In addition to asking numerous questions, they could meet with Catalina Garrido Rojas, the founder of Yeast Propagator Bank, who was part of TSF’s eighth generation. She led an interactive talk about how TSF helped her to take her company to the next level and reach the Seed program, our main program for more advanced businesses. Other current TSF entrepreneurs could tell our guests about their personal experience at Start-Up Chile.
But what really is TSF?
The Start-Up Factory is one of our three programs. Tailored to early-stage startups, it was created in 2015 to empower female founders. They may represent a minority in today’s entrepreneurship ecosystem, but they tend to achieve better results than male founders alone. Indeed, thanks to a 10-year review of its portfolio, First Round Capital found that startups with at least one female founder performed 63% better than startups with all-male founders. We had similar findings, concluding that the startups with at least one woman in the founding team had a higher survival rate than those which did not (56,5% against 50,9%).
What type of companies are we looking for?
In addition to the female founder prerequisite, we are looking for innovative, technology-based startups that are solving global problems. The team must have started working on the project less than 1 year ago and must be 100% dedicated to this business.
What do we offer?
In addition to the activities provided by Start-Up Chile’s staff (workshops, pitch training, boards), there are many other potential sources of support and development: 50 investors, 4500 alumni, corporate contacts and mentors selected according to their industries, strategies, and customers. Last but not least, Start-Up Chile provides equity-free funding for each company taking part in the program. The best startups can receive an equity free fund of up to 25,000 USD to support their growth.
We encourage you to follow Start-Up Chile’s social media to get answers to any questions you may have on TSF’s application process.
And female founders, do not forget :If you lead, you empower!