Is Start-Up Chile scaling back? Or is it toughening up the selection process? Because for the first time in quite a while, the organization has fallen short of the 100-startups mark. Yesterday, it revealed the identities of the just 85 companies that will make up its latest generation.
This fall, the startups will travel to Chile to participate in Start-Up Chile’s eighth acceleration cycle, working out of Santiago for six months.
Start-Up Chile has chosen companies from 28 different countries to take part in this next batch. The U.S. leads the way, representing 21% of the group, followed by Chile (16%), Argentina (12%) and India (10%). Entrepreneurs from Lithuania, Greece, Russia and Romania are also in the mix.
Diversity is evident in the industries represented, as well. Nineteen percent of the selected startups work in IT and software, 13% in education, and 12% in e-commerce. Social media, health and biotechnology, energy and clean tech, social businesses and tourism are also among the sectors addressed.
In November, the startups will descend on Santiago to start working. They’ll receive US$40,000 of equity-free funding and a work visa to develop their companies from the Start-Up Chile headquarters over the next several months.
Meet One of the Startups
One of the startups selected to join this latest Start-Up Chile generation is RingCaptcha, out of Argentina. A phone verification solution for developers, RingCaptcha is backed by Cygnus Capital and a number of angel investors, and it has already been accelerated by NXTP Labs.
“We see accelerator programs as enablers, and we do believe that being part of the Start-Up Chile family goes farther than that,” remarked Mariano Fernandez, Founder of RingCaptcha. “For us, the Start-Up Chile program means becoming part of one of the most incredible entrepreneurial ecosystems in Latin America.”
The members of the Ring Captcha team have high hopes for the Start-Up Chile program in helping them to go above and beyond where they are right now. Currently, the company is connected to more than 1,000 operators around the globe, covering 250 countries and 30 languages. “We’ve made a huge amount of progress on how our technology works in order to help mobile developers and webmasters stay in touch with their users and create more reliable, safer online communities,” Fernandez explained. He concluded:
Our vision goes beyond what you can see online today. The full-release product will be available pretty soon. We have ambitious plans for the months to come, and all of them are related to how the internet is taking shape over millions of mobile devices world-wide.
See the full list of the eighth generation of Start-Up Chile, including RingCaptcha, here.