Start-Up Chile is a program created by the Chilean Government that seeks to attract early stage, high-potential entrepreneurs to bootstrap their startups in Chile, using it as a platform to go global. The end goal of the accelerator program is to convert Chile into the definitive innovation and entrepreneurial hub of Latin America.

In 2010, the program, at that point just a pilot, brought 22 startups from 14 countries to Chile,providing them with US$40,000 of equity-free seed capital, and a temporary 1-year visa to develop their projects for six months, along with access to the most potent social and capital networks in the country.

During the six months program, the participants must be in Chile– for which they receive US$40k of equity-free seed capital,  a 1-year work visa, and access to local financial and social networks– the objective is to raise funds, hire talent, create networks, and to launch their businesses from Chile while leveraging and interacting fully with the local entrepreneurship  ecosystem.

The program has announced its list of 154 startups selected for the next batch and of the 154 startups selected (see: pdf) from 33 different countries representing a myriad of industries, the chosen ones from India are:

  • Credii
  • Cruns
  • PriceShred
  • RFEyeD, and
  • SupportBee

Congratulations to the winners!

One just wishes that Indian government, if not being startup friendly, at least should try not to be unfriendly to entrepreneurs (with mindless rules/regulations).

What’s your opinion?

» Startup Visa And The Impact on Indian Startup Ecosystem [BrainDrain 2.0]