Start-Up Chile´s application process opens in search of next 100 global startups

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The program reinitiates search for bootstrappers who will receive equity-free seed capital of USD$40,000 and a 1-year work visa.

Start-Up Chile announces the opening of 2012´s first application process seeking to select, fund, and host up to 100 startup companies in Chile, giving them great access to a global network for those determined to make their projects global. Since the program´s opening on 2010, 276 startups coming from 36 different countries have participated in Start-Up Chile. The goal for 2012´s first round of applications is to attract up to 700 projects.

The information process began on March 5th, while applications can be submitted as from today. The program is open to entrepreneurs from all nationalities, whether living in or outside of 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. All startups will be judged equally under the same criteria.

Applications must be submitted in English via the Start-Up Chile website www.startupchile.org/apply, where further information regarding the program can 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, which will be given through a reimbursement process).

The application process closes on April 3rd. Applicants will receive a letter of acceptance/rejection in May. Two other application processes will be opened on 2012.