We recently spoke with Horacio Melo, Executive Director of Start-Up Chile, about the program’s evolution in its quest to stimulate technological entrepreneurship, invest resources and create technology-based businesses in Chile.
Breaking it Down
The Corfo program received a record-breaking 1509 applications from 61 different countries.
Applications came from various technology projects in the areas of social networks, energy and natural resources. Alumni of some of the most prestigious universities in the world applied, such as MIT, Stanford, Harvard, London Business School, Yale and Oxford University.
The groups aiming to enter into this next round of Start-Up Chile hail from various nations: Chile (39%), United States (12%), Argentina (6.6%), Brazil (4.9%), India (4.9%), Peru (3.3%), Spain (2.7%) and Canada (2.2%). Applications were also received from Romania, Estonia, the Philippines, Poland, Somalia, Vietnam, Morocco and Azerbaijan, among others.
Taking into account the nationalities and homelands of all of the members of the applying teams, the number of countries represented in this most recent round of inscriptions reaches 71.
Other interesting figure: 17.9% of the applications received are dedicated to creation in the area of social networks, 14.2% in e-commerce, and 13% in IT and enterprise software.
During the hours leading up to the close of inscriptions, the Start-Up Chile staff set up its traditional Twitcam through which team members were available to answer applicants’ questions. Throughout the inscription period (from June 25th to July 10th), the Start-Up Chile website received more than 50,000 visits from 146 countries.
The list of finalists is ready and will be revealed soon.
In the face of the exceptional and unexpected success of this round of calls for Start-Up Chile projects (the number of applications doubled between this edition and last), Melo stated:
These numbers are extremely satisfying and represent some really positive signs. Chile is clearly becoming a pole of innovation. Moreover, the number of Chilean applicants continues to grow, which we interpret as greater confidence among Chileans in their own country as a platform for launch into the rest of the world.
The 1509 applications have already gone through evaluations with YouNoodle and the Corfo Subcommittee of Entrepreneurship and Innovation. Once the process has been completed, applicants will be informed of the results on August 31st, the day following Start-Up Chile’s next Demo Day. A new round of inscriptions will open up in October.
This text has been adapted into English from its original Spanish publication.