We are one of the largest and most diverse accelerators in the world receiving 250 companies a year.
Name of Accelerator: Start-Up Chile
Location: Santiago, Chile
Executive Director: Rocio Fonseca
Communications Manager: Catalina Brauchle
This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.
In two sentences or less, tell us about your accelerator and its objectives.
Start-Up Chile is a public business accelerator program created by the Chilean Government for high-potential entrepreneurs to bootstrap their startups using Chile as a platform to go global. We are one of the largest and most diverse accelerators in the world receiving 250 companies a year.
Why is your accelerator program unique? Please describe the benefits of participation in your program.
Our accelerator is unique for various reasons:
- We are the #1 accelerator in LATAM being the main door to enter the South American Market.
- Equity Free Funding – We don’t ask for participation in your company nor the money back. It’s Equity free!
- Visa for a year with the possibility of extension.
What do you find most appealing about working with entrepreneurial startups?
What we enjoy the most is the way our entrepreneurs network. Our community is one of the biggest in the world! We have more than 3,500 entrepreneurs from 79 countries. On a regular day you can see a person from India, someone from Brazil and someone from Vietnam networking and discussing the same problems from their point of view.
Another positive is that you can learn a lot from the energy of the entrepreneurs as they are early stage, they have to work three times harder and manage themselves closely to achieve results with little money. That makes them very creative and it is extremely positive to be surrounded by that.
Tell us about your success stores; which are the most interesting companies to have participated in your program?
We have worked with many interesting companies and it is difficult to choose only a few, but here are some that are particularly noteworthy:
- Lab4U (from Chile)
Founders Komal Dadlani and Isidro Lagos developed a smartphone application which seeks to democratize access to sciences. It uses the smartphone’s sensors to create a mobile laboratory where it is possible to carry out experiments such as measuring speed, temperature or even using the camera as a microscope. Lab4U has won various innovation competitions in the USA.
- Hoope (from Russia)
Founder Irina Rymshina developed a ring that detects diseases such as syphilis, chlamydia and gonorrhea in only 30 seconds and with a 97% efficiency rate.
- Bureo Skateboards
Founders Ben Kneppers, Kevin Ahearn and David Stover built skateboards with recycled fishnets. They create the skateboards in Chile and sell them throughout the world. Recently they closed a deal with Patagonia, a company that invested in them.
- Cruise Wise (Acquired by Trip Advisor)
CruiseWise brings wisdom and simplicity to booking cruises. They provide detailed information about ship sizes, service levels, construction dates and offer photos of cabins and entertainment facilities all in a layout that manages to remain simple and responsive without being overwhelming.
Founder Camilo Anabalon developed a device for premature babies. This device can connect the mother during the incubation period (it’s like a hot water bottle). In that way, the device replicates the heart beats and temperature of the mother to strengthen the bond throughout the time babies stay in incubators.
What are the most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
- Is it equity free?
- How much equity does the accelerator take?
- Does it have a big community to get contacts and do networking?
- If the accelerator is in another country, consider if they give you a working Visa.
Once you are accepted in an accelerator, consider:
- The Team: Never work alone. You must have a multidisciplinary team and define different roles.
- Think Globally! Think on a global market basis, not just local.
- How can you effectively use the accelerator? Consider the contacts, networking, learning from your peers and training your pitch. Take the most out of it!
What else would you like to share?
We opened an application process for our seed fund on January 17, 2017!
Need help through the startup process? Our FREE Turbo Funder Concept can help!
Are you familiar with other accelerators you believe should be spotlighted? If so, we would like to hear from you. Tell us about them, sharing your comments below!