Third call for The S Factory closes with record number of applications

The S Factory

With more than 500 applications, the Start-Up Chile pre-accelerator program reached a new record that showed both national and international interest in applying to The S Factory.

 

SANTIAGO, Chile.  March 2016-. After two weeks of application process, the pre-accelerator for female leaders continues to gain popularity among the best entrepreneurial ecosystems in the world. This time 513 entrepreneurs decided to be part of this process, hoping to be selected as one of the top 25 to companies to enter the program.

 

The amount of applications is a new record for the program, which increased in 50 the number of applicants compared to the last round. This tendency shows the increasing interest of females to built startups related to technology and science.

 

In this third process, the most represented country (among the 40 that participated) was Chile with 50% of the applications. The second country with more applicants was USA (7%), followed by Argentina (4%) and Brazil (4%).  Colombia, Mexico and Russia came 4th with 3%. At the same time, projects from Tunisia, Vietnam and the Philippines were also among the applicants.

 

Regarding industries, and continuing with the trend of the previous generations, e-commerce stands in first place with 19%, followed by education companies (12%) and Social Media (11 %).

 

The projects selected to be part of the third generation will start the program on June 20th. All founders must be in the country during that week to begin the guidance and experience process as entrepreneurs of The S Factory.

 

The program will last 12 weeks and the participants will have the opportunity to share with the Start-Up Chile entrepreneurs from all around the world. The selected projects will receive 10 million pesos (USD $ 16,000) with an intense weekly schedule to accelerate their ideas. This schedule includes courses, mentoring, pitch training, among others. In addition, foreign companies will receive a working visa for a year to come to Chile.

 

Once The S Factory program is completed, companies will be able to apply to the Start-Up Chile Seed fund, to grow and accelerate their previously validated businesses.