Startup Chile just opened the 15th round of applications this week and will stay open from now until September 29th with the winners being announced in December. In each of the previous rounds, 1500+ startups from more than 60 countries applied for the right to come to Chile for $20m Chilean pesos (US$34,000). Chile invited 100 of these 1500+ companies who applied and they will begin to arrive in the next months, joining the 1000+ startups who have participated in the program since 2010.
Startup Chile has become more competitive as the number of applications has grown. Round twelve saw applications grow and more than 2500 companies will likely apply to Round 13.
It’s a great program, especially for entrepreneurs who are bootstrapping or already have developed a product but need more time to figure out the correct business model for their business. It’s a perfect fit if you’re looking to target the South American market or if you’re in the Robotics, Healthcare & Biotech, Clean Energy and Education industries.
My company, Entrustet, was part of the pilot phase of Start-Up Chile and I’ve been in Chile since November 2010. I blogged extensively about my experiences in the program and in Chile, along with advice on how to get selected for Start-Up Chile. I tracked down the stats from the pilot round companies a year later, which was published on The Next Web. I also wrote Startup Chile 101, the book that will tell you everything you need to know about living, working and doing business in Chile and Chile: The Expat’s Guide
From the the third round to the ninth round, I’ve helped startups review their applications and prepare them to get accepted into Startup Chile. Overall I’ve now reviewed, 47 applications for prospective Startup Chile teams and 28 have been accepted.
Round 3 – 6/9 66%
Round 4 – 3/4 75%
Round 5 – 3/6 50%
Round 6 – 3/6 50%
Round 7 – 5/10 50%
Round 8 – 3/5 60%
Round 9 – 5/7 71%
Overall: 28/47 60%
In rounds five through twelve, ~4% of applicants were accepted into the program and 60% of the applications I’ve reviewed have made it.
Many companies that have applied as many as three times previously were accepted after we worked together.
After round nine, I stopped doing application review because I ran out of time, after starting Magma Partners, a seed stage investment fund in Chile.
For round 15, I’ve teamed up with Margherita Pagani (blog, twitter, linkedin), founder of Fly The Gap and round 11 participant to restart the review. Margherita will take the lead and I will provide advice and guidance so that your application gives you the best chance of successfully applying to Startup Chile.
In addition to her startup she’s worked with other CEOs and VCs in Latin America, the US, UK and Europe as a consultant and mentor focusing on communication, marketing and strategy with a special focus on metrics and impact measurement.
After her startup was selected for Startup Chile in 2014 she has successfully engaged with the local tech scene creating initiatives like ImpactON, a social good, design-focused, hackaton that connects designers, developers and founders with the international community and 20 partners, including companies, universities and government entities.
She has a great handle on what it takes to be selected into the Startup Chile program and can help you with your application by using the methodology that I’ve used over the past three years to help 60% of startups who I’ve worked with get into the program.
If you need help with your application, please contact us. Editing, writing, review, advice. Just like before, we charge a small flat fee to review and edit your application, plus a larger success fee if you are selected for the program after we’ve helped you.
Want help? Got questions? Want a quote? Fill out my contact form and we’ll get back to you right away!
Note: Margherita and I WILL NOT write paid letters of recommendation.
I just wanted to review this service for anyone who might come across this post in the future and becomes interested. Based in my experience Nathan is not involved in the process after sending the quote, at least not on any noticeable manner. Not that it’s good or bad, but just be aware of that fact. Also, even though the post and the initial quote might depict a very collaborative process, the reality is the following: (quoting Margherita here): “– the procedure is always 1 detailed feedback >> corrections >> 1 final review. >> eventual corrections + submission.” which is a bit more constrained than the “We’ll go back and forth until we’re all happy with the results and you submit” Nathan says in the initial quote. Also, beware of the extras. The review will be one price, but that only includes the form. If you want feedback on the video (which is essential to the application) extra money is requested, and even more is requested for if you want feedback on your website, not saying that’s wrong, but you should know about that in advance as it is not mentioned in the initial quote. If you have some type of time constraint know that the email exchange does not always flow as one might expect and emails can go unanswered for some days. All in all the service is good in that it gives you access to a member of SUP alumni you might not have otherwise. I contracted the service as I needed just that on a very short notice. However, if you have the time I fully recommend you try to engage a SUP veteran that has already done something in the area of your interest and develop a real relationship that will be much more valuable than a one off exchange.