Investing in Chile through innovation

Start-Up Chile: Global Entrepreneurship Competition

It is a subsidy to individuals of any nationality, including Chilean, who are founders or owners in implementing an innovation project.

This subsidy gives a financing of up to 90% of the total cost of the program, with a limit of EUR 27,000 per project. The beneficiary company must provide 10% of the costs. .

Moreover, this program will provide work visa for one year to the program beneficiary and a team of up to 3 people (beneficiary included), all of them presented to the program during the application process.

Besides this, the companies that decide to take their businesses outside the capital (Santiago) will receive EUR 6,500 in addition to the initial subsidy.

Furthermore, those startups that during the six-month program can demonstrate traction, income generation and the need for more funds to grow in Chile and Latin America, will be eligible for a second phase of funding that goes up to EUR 78,000, which will equal 70% of the total, where the remaining 30% will be contributed by the company accepted.

Source: CORFO

Integrated development initiatives - IFI: support for technological investment projects

This program consists in an activities set of for co-funded  to a company, intended to support implementation of technology projects, new or expanded investment, implementation or expansion of innovation centers and generally facilitate, through the provision of different activities Co-financing and support mechanisms, the realization of important initiatives to CORFO in production and technological fields.

They will be understood by those technological projects in favor intensively, development and / or use of new technologies in the fields of information technology and telecommunications, biotechnology, new materials, electronics and process engineering investment. In addition, projects will be eligible to apply new production techniques in developing and adding value to natural resources in the country.

Who is it for?

They may be beneficiaries of this type of program enterprises or productive or technological, national or foreign entities, established in Chile.

Projects must contemplate an investment less than US $ 2 million (two million dollars). However, Corfo, founded resolution, may accept applications from projects for amounts lower investment to the aforementioned, in the case of projects for its high impact on job creation or regional development, are deserving of the exception.

What is the support delivered?

The incentive shall not exceed 30% of the resources committed by the recipient firm during the first two years of the project, with a ceiling of up to US $ 5 million (five million dollars).

The incentive will apply to the components of expenses  and investments that affect relevantly at startup, commissioning and maintenance operations.

  • These expenses must surrender in the following items:
  • Technological investment in fixed assets, up to 30% of the total grant.
  • Inserting and specialized human capital formation.

Activities associated with the implementation of Supplier Development Programs.

CORFO reserves the right to decide on what components of investment or expenditure items estimated relevant or  not, be certain expense report.

How to apply?

  • Download and read the rules of Integrated Initiatives Program Development - IFI.
  • Download and complete the Sheet Project Profile.
  • Send Sheet Project Profile to mail signed by (the) representative (s) Legal (s) of the Applicant Company, addressed to the Board of Investment.
  • Approved the profile tab, access the "Apply" button and enter the online application system.
  • Complete the Application Form and attach the required background.

* The approval Sheet Project Profile is enabling condition for the application of the project