Today was the first day of the Start-Up Chile Introduction Week for the second half of the second generation entrepreneurs who’ve, within the most recent days, descended upon Chile. Accepted as part of the program in September, 2011, they represent 27 different countries from Sri Lanka, to the Netherlands, to Venezuela and make up a little over half of the second generation, which in total, is comprised of 130 startups.
Welcome to Chile everyone!
We received more than 1600 applications from more than 70 countries, held over 80 meetups, and our participants raised nearly USD$5 million.
We hosted a national meetup in each of Chile’s 15 regions on the same date, at the same time; we received over 500 applications for the positions we posted on our unique job portal; we connected Chile with the world.
2012 is just beginning– if you ever wanted to be a part of Start-Up Chile, now is the time!
Hailing from 36 nations, this third generation represents 28% of the year’s 364 total selected startups and the program’s most geographically diverse group yet.
After receiving over 570 applications during the third application period that ended in October, Start-Up Chile announces that 100 startup companies have been selected to be part of the world-recognized acceleration program’s third generation. 40 of those 100 teams are comprised of a group of entrepreneurs from more than one country.
With arrival dates in either February or March of 2012, the 100 chosen startups (236 entrepreneurs) call more than 36 diﬀerent countries home and represent a myriad of industries as well as many of the world’s most prestigious educational institutions including the University of Pennsylvania, MIT, Stanford, Harvard, and the Monterrey Institute of Technology.
The top five most frequently represented countries are: USA, Chile, Argentina, India, and Brazil. This is the first time that Romania, Hungary, Peru, South Korea, Slovakia, Slovenia, and Sweden have had entrepreneurs participate in Start-Up Chile.
E-commerce is the most strongly identified industry (18% of the selected), which is then followed by Education (13%), IT & Enterprise Software and Social Media– both with 10%, and Mobile & Wireless (9%). Remaining categories include Clean Tech, Tourism, Natural Resources, and, among others, Biotech.
Jean Boudeguer, Start-Up Chile’s Executive Director, says “entrepreneurs are looking towards Chile not just for the money, but for the abundant network of people that the program attracts. We’ve had a commendable number of success stories and are very proud that after conducting 3 rounds of applications, the energy is more alive than ever. I look forward to seeing what next year will bring to us.”
Congratulations to everyone– see you in Chile!
To celebrate the results of the third and final Start-Up Chile application round of 2011, we’ll be hosting a Twitcam event to share the news with viewers from around the world.
Here’s the link to access the broadcast.
The schedule for the two hour broadcast is as follows:
4:00 (Chile time)– Welcome, interview with Start-Up Chile’s Executive Director, and a review of the year’s events
4:20– Interviews with entrepreneurs from previous generations
4:40– An insider’s look into the Start-Up Chile application process
5:00– Sending of the results to each applicant, and an invitation to those winners in Santiago to come celebrate with us in our HQ
5:40– Interviewing our newest participants!
Tune in and share the excitement!
Andrew Mason, the worldwide CEO of Groupon, was in Chile for barely 12 hours on Monday, December 5th and spent two of them hanging with Start-Up Chile entrepreneurs, listening to their pitches, and talking about his experience creating, managing, and growing a global company.
His first time in Chile, Andrew came to visit Groupon’s local operations and team members– highlighting especially that the company recently acquired two Chilean startups, Needish and Zappedy. With his CFO and Director of Communications in tow, he arrived to the Start-Up Chile headquarters and spoke briefly about Groupon’s birth and rapid growth saying that “in 2008, we had only 7 employees which grew to 10,000 spanning 46 countries in only one year.” He added that his view as a founder is to “work harder than everyone else and be myself” and, in terms of obtaining funding, it’s ideal to have “liquidity once you’ve proven success in order to focus on the long-term vision.”
Four Start-Up Chile participants were selected, after a tooth-and-nail internal pitch competition, to give a seven minute presentation to Andrew, a panel, and other program participants. Of our nearly 150 startups, Propiedad Facil, GooseChase, Gym-Pact, and Kloof were chosen by their peers to pitch. As elected by Andrew and a panel comprised of Groupon Chile’s CEO and CTO, and Andres Barreto, the founder of Grooveshark, Gym-Pact was the winner among their peers.
At the end of last week, the first half of Start-Up Chile entrepreneurs selected during the second application round arrived to Chile to kick-off their six month participation in the world’s most disruptive entrepreneurship program. They hail from 18 different countries and represent some of the world’s most renowned universities like London’s Imperial College, Stanford, New York University, and Northwestern University (among others).
In January, they will be joined by the remaining half of the second round’s selected entrepreneurs which will sum the number of startups participating in this particular round to nearly 150, totaling over 300 entrepreneurs who will be living and bootstrapping in Chile for 6+ months.
To learn more about the group’s overall demographic information, check out this previous blog post and please feel free to welcome them by commenting on this post!
The final application process of 2011 came to a close on midnight of October 27th, and we are extremely pleased with the results we’ve obtained and the enthusiasm of the entrepreneurs who applied to participate in the Start-Up Chile program.
In total, we received 574 applications from 53 countries, with nearly 70% arriving during the process’ last 48 hours– of which up to 110 will be selected.
The top ten countries represented include:
An MBA was the most highly represented degree with 14 applicants followed closely by Computer Science with 13 and Business Administration with 10. The majority (55%) of the entrepreneurs who applied have only been working on the startup full-time for 0-6 months.
As of today, Friday, applications will begin to be reviewed by the YouNoodle judges and then will ultimately be passed along to InnovaChile’s Subcomittee of Innovation and Entrepreneurship who will make the final decision. Applicants will be notified of their acceptance/rejection on December 17th, 2011 and, if selected, will be invited to come to Chile in February and March of 2012.
Thank you to everyone who applied and best of luck to you all!
This week in San Francisco, Start-Up Chile’s Advisory Broad congregated for one of the semester’s meetings to talk about the program’s advances, the most recent selection of 154 new startups (doubling the number of applications from the previous application round), the selection processes, and how the different innovation and entrepreneurship hubs of the world are connecting thanks to the networks the program is generating.
Our Board is comprised of some of the world’s most foremost names in entrepreneurship and academia who can be seen here in the photo: