Chile, Beyond Pedro Pascal: 5 reasons you should consider Start-Up Chile to build your startup

Nowadays, Chile has been in the global scope primarily for its favourite man and actor at present: Pedro Pascal. As Chilean citizens, we are so proud of him not just for his presence at The Last of Us series, but also for having an outstanding career in the cinema industry. However, are there other reasons for taking a look at our country, Chile? Yes, of course! As the Scouting Manager of Start-Up Chile by Corfo, the first public accelerator for global tech-based startups, I’ve seen a variety of entrepreneurs from different nationalities who are taking advantage of Chile to build technological solutions which will disrupt industries globally. Let’s take a look at the main reasons for this.

1. Chile is one of the leaders in digital technologies and connectivity.

Chile has built a relevant broadband infrastructure providing an excellent connection to the internet. According to the Speedtest Global Index, Chile had the fastest fixed broadband internet in the world in 2022 and also the local level of fiber optic distribution is higher than the OECD average. Moreover, based on a study from Accenture Research and Oxford Economics, (text in Spanish) revealed that the digital economy represents 22.2% of the national GDP: around US$ 55 billion. Therefore, Chile is not only investing resources in digital connectivity but also is one of the global leaders in the adoption of digital solutions. 

2. The new target of critical investment of big tech companies.

Chile has been a place where big tech companies have deployed strategic projects for different ambitious purposes. Enterprises such as Google, Microsoft, Amazon, Oracle, Starlink and more have orientated internal projects to Chile, allowing this country to become a fundamental benchmark in new technologies of Latin America. As an example, Huawei announced in 2022 the construction of a third data center in Chile, which involves an investment of US$ 100 million.

3. Public policy and an ecosystem that strongly support entrepreneurship.

Chile and its public policies have developed excellent tools and possibilities for early-stage ventures. For instance, and as you could have heard, Start-Up Chile is part of the initiatives of the Chilean Economic Development Agency, the most essential public organization which aims to boost innovation, entrepreneurship and sustainable development. Its budget surpasses around US$ 1.7 billion, and its programs and funding are dedicated to supporting entrepreneurship from their beginning to complex R&D processes. Moreover, our national ecosystem is still growing, where new private and corporate private funds have opened in the last 3 years focused on different sectors. Furthermore, Chile has become a leader in fostering new technologies in the renewable energy industry, especially in green hydrogen which 13% of the source produced globally will be boosted by this country (World Economic Forum, 2023).

4. A country to make a soft landing and expand throughout Latam.

Chile is not a huge market at all compared with other countries such as Mexico and Brazil, for example. However, this country with a population of more than 19 million people is an ideal place where you can test your product or services in a narrow market in order to make your first approach to the region. Indeed, Chile has a variety of international economic collaboration agreements, like Mercosur and The Pacific Alliance, and a bunch of commercial agreements, namely with México, Brazil, and other countries in North America. Therefore, if you want to start or expand a business here in Chile you will definitely increase your chances of creating a big company.

5. Nice opportunities! But how can I take advantage of Chile and its entrepreneurial ecosystem?

If you want to know more information about Chile, I highly recommend visiting the websites of Invest Chile and Marca Chile, where you can find tools and services which could help you to expand your business here in Chile and other recommendations. Moreover, we are going to open an application process soon to find our new generation of entrepreneurs at BIG 6! From March 21st to April 17th, we will have an application process open. Hence, if you have a tech-based business that aims to solve global problems this is an incredible opportunity for you!

In the meantime, I also highly recommend you to:

• Visit our website and read more information about the offer of Start-Up Chile and its Terms & Conditions.
• Recommend your or another startup filling this form. We are still scouting bright candidates for this following application process.
• Watch our informational webinars.

So don’t waste your time, apply to Start-Up Chile BIG6 and be part of a community of more than 5000 entrepreneurs that are hungry to create global businesses from Chile to the world!