I have to say that I don't really agree with the overall assessment made over here. It appears that a lot of people come to Startup Chile expecting the wrong things.
Why would you come to Chile and expect:
- There will be no bureaucracy (this is a government run program..)
- You won't have to give anything (RVAs) at all back - (equity free capital in return for what ? in that case..)
- Connections to US accelerators and investors (WTF ?)
To be honest, it's unrealistic to expect all of the above. I do agree that Startup Chile can do MANY good things (connections to latin american investors, more guidance/mentorship, etc.) but why not take into account the fact that this is a young program being run by a government in a country with very less startup experience.
Here are some positive points I've heard from people:
- Use government connections. Folks who have their startups in fields where government help can work eg. education, social service, etc. are able to uniquely utilize startup chile's clout in the government sector.
- Learn some Spanish.
- Do something relevant. You're hardly going to get support if you're designing a product that solves a problem in the US or elsewhere (with no possible extension into Latin America). Besides, why would a local investor be interested in that case ?
As for the part where filing statements, getting reimbursed, etc. - there's no need to whine about that. The processes have been streamlined a lot over the past few months and these guys seem to be working on it more, there is definitely good faith involved and it's not all "Oh yeah we're going to make them WORK for their money". They just need to be sure that your expenses are justified. I know of people who are trying to squeeze out an iPhone or two in their reimbursements. They naturally have to be very careful due to the fact that this is taxpayers money.
Furthermore, all the pains of startup chile are pretty well known. It is definitely not an accelerator, you will probably not have a lot of events and guidance. But, if $40k equity free capital and a reasonable amount of freedom (in how you use it..) are important to you - then sure, I think it's a program worthy of mention.
/ Just sick of all the whining that goes on about how Startup Chile doesn't connect you to the US blah blah blah.. -- why should it ? Also the sense of entitlement a lot of people carry is sickening. A lot of folks seem to treat startup chile as a 'gap year' and then whine about how they didn't manage to make the next $1B company (not saying that the author is doing this...). That's just messed up.
Why would you come to Chile and expect:
- There will be no bureaucracy (this is a government run program..)
- You won't have to give anything (RVAs) at all back - (equity free capital in return for what ? in that case..)
- Connections to US accelerators and investors (WTF ?)
To be honest, it's unrealistic to expect all of the above. I do agree that Startup Chile can do MANY good things (connections to latin american investors, more guidance/mentorship, etc.) but why not take into account the fact that this is a young program being run by a government in a country with very less startup experience.
Here are some positive points I've heard from people:
- Use government connections. Folks who have their startups in fields where government help can work eg. education, social service, etc. are able to uniquely utilize startup chile's clout in the government sector.
- Learn some Spanish.
- Do something relevant. You're hardly going to get support if you're designing a product that solves a problem in the US or elsewhere (with no possible extension into Latin America). Besides, why would a local investor be interested in that case ?
As for the part where filing statements, getting reimbursed, etc. - there's no need to whine about that. The processes have been streamlined a lot over the past few months and these guys seem to be working on it more, there is definitely good faith involved and it's not all "Oh yeah we're going to make them WORK for their money". They just need to be sure that your expenses are justified. I know of people who are trying to squeeze out an iPhone or two in their reimbursements. They naturally have to be very careful due to the fact that this is taxpayers money.
Furthermore, all the pains of startup chile are pretty well known. It is definitely not an accelerator, you will probably not have a lot of events and guidance. But, if $40k equity free capital and a reasonable amount of freedom (in how you use it..) are important to you - then sure, I think it's a program worthy of mention.
/ Just sick of all the whining that goes on about how Startup Chile doesn't connect you to the US blah blah blah.. -- why should it ? Also the sense of entitlement a lot of people carry is sickening. A lot of folks seem to treat startup chile as a 'gap year' and then whine about how they didn't manage to make the next $1B company (not saying that the author is doing this...). That's just messed up.