Start-Up Chile Scale application process is now open. To apply, go here.
The program is equity free, but the founders must work as a Start-Up Chile mentor during the year, to help improve the entrepreneurial ecosystem.
Startups will receive up to 60 million Chilean pesos (around USD 100,000) equivalent to 70% of the total investment. The remaining 30% is the companies’ contribution.
SCALE is a follow-on fund that offers CLP 60 million (approximately USD 100,000) to startups that have significant traction, are generating revenue and that need the extra capital to grow in Chile and expand to the rest of Latin America. The money will be given through a co-financed grant in which Start-Up Chile will put up to CLP 60M, corresponding to 70% of the fund; the recipients of this grant must put up the remaining 30%, no equity will be demanded.
Only companies that have first passed through the six-month Start-Up Chile program (and other from Corfo) will be eligible to apply to this new fund. In addition, companies must have a legal presence in Chile: an incorporated company or a legal subsidiary that includes a legal representative.
Applying to Start-Up Chile SCALE is simple. Towards the end of the Start-Up Chile program or others from Corfo, companies that meet the standard requirements can submit an application. Each company will be reviewed by a committee at CORFO (Entrepreneurship and Innovation agency of the government of Chile).