The startups led by women entrepreneurs will receive 10 million pesos (about US$ 15.000) and a 12-month working visa to come to Chile and be part of the first generation of the program.
After the application process of the 1st generation, which took place in June, 16 young startups led by women entrepreneurs have been selected to be part of the community.
In this pilot generation, most of the participants come from Chile (43%). Other countries represented are United States, Argentina, Albania, Dominican Republic, Estonia, Germany, Italy and Mexico. And the most represented industry is Healthcare and Biotechnology. Also industries like Finance, Education, Ecommerce, Clean Tech, among others, are represented.
All of the startups are led and have been founded by women: this is part of the requirements to be selected. The S Factory is part of the few acceleration programs that is only dedicated to women founders.
The companies selected for the 1st generation will start the program on the 7th of September. During the first week, they will be orientated by the team, that takes care of the soft landing process.
As a requirement, entrepreneurs must stay in the country for the 3-month length of the program and help in the social impact of entrepreneurship through sharing experiences and knowledge with other startups and outside the program in order to grow the women entrepreneurs network in Chile.
At the end of the pre-acceleration process, they will have the chance to apply to Start-Up Chile – the parent fund – that offers CLP 20 million (~ US $35.000) and then eventually to the follow-on fund SCALE that provides the companies 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 with CLP 60 million (~ US $100.000).
The S Factory is the third program of Start-Up Chile, the accelerator created by the Chilean government. It aims to emphasize women in entrepreneurship, especially the ones in tech, to fill the gap of gender inequality.
The goal, during the 3-month length of the program, is to build their startups, a network and to participate in the local entrepreneurship ecosystem. To do so, the women will be part of the biggest startup community in the world, will be mentored and will participate in workshops covering all the knowledge they will need to run their businesses successfully.
It is the best opportunity for them to participate in the change of the entrepreneurship ecosystem that includes more and more women.
For more information about The S Factory, please visit www.thesfactory.org
Meet TSF 1st Generation
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