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Starting today, Start-Up Chile is receiving applications for its 5th round of entrepreneurs. The renowned program of the Chilean government seeks 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, 323 startups coming from 35 different countries have participated in Start-Up Chile.

The information process began on June 11th and it consisted in more than 20 meetups hosted in San Francisco, New York, Lima, Buenos Aires, Montevideo, among many cities in the world. The SUP Boat, Start-Up Chile´s boat, visited the most dynamic cities for global entrepreneurship looking for the best entrepreneurs and inviting them to apply to the program. Applications can be submitted as from today!

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 only by 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 program is open to entrepreneurs from all nationalities, whether living in or outside of Chile.

Applications can be submitted starting from today and only until July 10th at 23:59:59.

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.

Applicants will receive a letter of acceptance/rejection by late August. By the end of 2012, another application process will be open.