Home Call for Applications Start-Up Chile launches Ignite Acceleration Program

Start-Up Chile launches Ignite Acceleration Program

by opportunitydiary

Application Deadline: 05/03/2022
About Opportunity

Start -Up Chile has launched the Ignite, a 4 Month acceleration program and financing Program for startups that, with a functional product, seek to find their product-market fit to scale sales.

Eligibility Requirements

  • Beneficiary (only one): It is the participant who benefits from the granting of the subsidy for the execution of a project. In the event that your project is awarded, you will be the recipient of the subsidy. responsible for its execution before Corfo, and will be the active and passive subject of all the rights and obligations established in the subsidy agreement or contract, including the delivery of detailed reports of expenses and activities, carried out by it, other participants and third parties.
  • Executors (maximum three) (optional): Optionally, the participation of up to 3 (three) Chilean or foreign natural persons may be considered, who at the time of the application are at least eighteen years old, and who are duly individualized in said capacity in the respective application form.
  • Sponsoring Entity: The Sponsoring Entity is an institution that acts as a specialist intermediary between Start-Up Chile and the Beneficiary, which must provide support services for technical follow-up, support for financial follow-up and make available adequate infrastructure so that entrepreneurs carry out a correct execution of the respective project, accompanied by the acceleration methodology of Start-Up Chile, in order to increase the chances of success of their ventures.

Benefits

  • Startups with a Working Product: They look for the best startups regardless of industry and country, that have a functional product, early validation and have been developing for less than 3 years.
  • 4 Month Acceleration: The program is tailored to grow your startup exponentially through board sessions, academia, and connections with the best corporate and investor networks.
  • Equity-Free Financing: In addition to the complete acceleration program, they will give you a fund of 25 million Chilean pesos free of shareholding so that you can grow your business without having to give up part of it.
  • 25 Million Extra Pesos: Possibility of accessing an extension of 25 million (approx. 31K USD) Chilean pesos to continue developing your business.
    Female Founder Factor: This is an initiative with a gender focus! Startups with women leaders in the team will have up to 90% financing.
  • Suppers: They call everyone who goes through the program SUPpers. Annually they receive 2 generations of Ignite of up to 30 startups each.

Application Procedure

Generate a socioeconomic impact in Chile, through support for innovative technological enterprises that allow the country’s economic matrix to be sophisticated and/or diversified, through financial support and acceleration services provided by Start-Up Chile.

  • Attract and accelerate technology-based ventures with global markets (both national and foreign), that see Chile as an asset for their business and that have, at least, a minimum viable product (MVP) or functional prototype of the solution.
  • Increase the economic impact in Chile of the undertakings supported by the Program.
  • Contribute to the growth of a sustainable, democratic and diverse entrepreneurial ecosystem, facilitating instances of connection between entrepreneurs, investors, companies and organizations.
  • Contribute to the positioning of Chile as a benchmark in innovation and technological entrepreneurship worldwide.

Official Website: Start-Up Chile launches Ignite Acceleration Program

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