

Start-Up Chile opens a new application process - amix
http://startupchile.org/about/apply?round=june2012

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liquimoon
I am currently participating in the 3rd round. I stay in Santiago. It's rated
#1 on the NYT list of 41 places to visit last year.
[http://www.nytimes.com/2011/01/09/travel/09where-to-
go.html?...](http://www.nytimes.com/2011/01/09/travel/09where-to-
go.html?pagewanted=all) My experience with Chile and Startup Chile have been
very positive so far. For me, it's the best way to bootstrap a company.

Here is my answers to a few of the FAQs.

Lack of Mentorship

Though there is no mentorship program from Startup Chile. There IS a 3rd party
program that matches you up with powerful Chilean business people.

You fill in a questionnaire about what you are looking for, and they try to
match you up. I was looking for someone with lots of marketing experience and
gets technology. They come back with exactly the right guy for me. My mentor
works for TVN (equivalent of CNN in Chile) and used to be marketing manager
for P&G, BP, and Coca-cola.

I frankly cannot imagine having a mentor with similar experience elsewhere.
Being a Startup Chile entrepreneur definitely gives me lots of leverages
within Chile.

Reimbursement

This has been a concern for lots of people. But it comes down to being
organized and be sure to bring enough dough down here.

If you keep track of the spending, it's really not such a big deal. Sure,
paper work sucks. But it's nothing that an organized person cannot handle.

If you have hard time adopting to rules, look elsewhere. Seriously, you
probably should just take a job and not play the survival of the fittest game.

Not SF

I've never stayed in SF. But there are lots of Startup Chile participants who
had lived in SF in the past. Sure, it's the center of the universe for
startups, but the price you pay for living in SF or even just another North
American city is the tunnel vision.

Living in Chile has given me so much more perspective about how the rest of
the world operates. This could be handy down the road.

Giving back to Chile

You can travel to teach entrepreneurship in other regions of Chile. It's a
great way to travel to other regions of Chile as well as giving back what you
know. I am half way through the program, and I am already done with my RVA
points. It's really pretty simple and fun.

There are 20 of us who taught entrepreneurship in a university in Temuco.
Where is that? Exactly, how else would you travel to the beautiful southern
part of Chile, teach university students about entrepreneurship and get almost
all travel expenses paid for?

Language Barrier

There are tricks to go around this.

I am paying a Chilean intern to help me with setting up customer development
meetings. So far we have done 5 sessions in Santiago. Almost all of our
clients speak English.

And if you want to learn Spanish, the program pays for the tuition!

Below is a list of my surprises so far.

Friendly Chilean

I got invited to Chilean family parties. I served tequila to grandpa all the
way down to the people who are barely legal to drink. And I speak very little
Spanish. I am totally surprised by how friendly and welcoming Chileans are to
foreigners. If you are friendly and positive, you will have little problem
adapting.

Living expenses

By far, this is the biggest surprise for me. Before coming to Chilean, I read
some report saying that Santiago's living expense is 30% of that of Vancouver.
That totally throw me off.

The living expense here is actually pretty HIGH. I would argue it's pretty
much the same as any other North American cities.

But the program pays you a sufficient salary as well as your monthly rent. So,
that definitely helps.

Other Entrepreneurs

This has been stated over and over again, but I didn't expect to meet so many
talented entrepreneurs from all over the world. I got helpful feedback on my
product from people who worked at 37signal, pivotal tracker, london school of
economics, stanford, harvard, microsoft, techstar, Skype… The list goes on an
on.

The community here is superb. No wonder it was recently rated #12 tech hub in
the world: [http://techcrunch.com/2012/04/10/startup-genome-compares-
top...](http://techcrunch.com/2012/04/10/startup-genome-compares-top-startup-
hubs/)

Conclusion

Maybe I am just very lucky. But I cannot imagine what I would do if I didn't
get into Startup Chile. Prior to coming to Chile, I was burning through my
savings on a $2000/month burn rate trying to bootstrap my business. My other
option was to go back and find a job.

Startup Chile gave me the chance to continue working on my business. The only
thing they ask for is to give back to the Chilean entrepreneur community. This
is a no brainer for me.

The program is getting increasingly competitive every round. So, there is
really no better time to apply to get your $40K equity free grant while living
in the jewel of Latin America.

If you have any other questions, send me a tweet @tianjerry

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IanOzsvald
@jot (from Round 1) made some great comments a few months back:
<http://news.ycombinator.com/item?id=3810821>

I added a few notes too (I'm Round 2) - definitely think more along the lines
of £10kGBP (about $15k) if you want to have a smooth ride. Two months from
landing to getting money in CLP into your Chilean bank account (it'll only go
in your new Chilean account) is a minimum. Sending money aborad is a pain and
requires bank visits (online banking here isn't brilliant).

There's a comment on this post about Mentorship Groups - I setup the first (as
best I know) which we've been running for 3 or so months, details here if you
want your own: [http://ianozsvald.com/2012/05/16/mentorship-groups-in-
startu...](http://ianozsvald.com/2012/05/16/mentorship-groups-in-
startupchile/)

The lack of mentorship will apparently we changed for Round 4 (fingers
crossed). Definitely come here knowing what you want to achieve and take all
collaboration/support as an unexpected bonus.

Overall I rate my experience here as positive, it certainly got me out of a
rut back in the UK. The participants and staff are supportive (and generally
lovely), the push to make us achieve is rather weak (hence starting our self-
mentorship group). The programme will improve with each new round.

~~~
IanOzsvald
I should clarify - if coming from the UK you'll want more cash than if coming
from the US. In the UK the Chilean work visa costs £1220 (the highest in the
world from memory - set by the govt., nothing to do with startupchile).
Flights were also over £1000. Coming from the USA will be much cheaper.

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dmix
Spamming HN with positive comments is the worst way to convince us to apply:
<http://cl.ly/3C2T0B1X1s0e222c0m2C>

Flagged.

~~~
nckpark
Fair, but dismissing a thread that could be really valuable to entrepreneurs
considering applying isn't great behavior either.

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josablack
My thoughts on SUP after 4 months.

Start-Up Chile is great for early stage start-ups. But, if you are already
receiving traction and trying to land investments, I would recommend being
located closest to your domestic market.

For our company, Student Loan Hero, it made a bunch of sense, we were able to
pivot our business model from the beginning without feeling rushed to pursue a
bad business model, as opposed to the feeling I think I would have in a 3
month incubator.

I do recommend each member that comes to Chile have at least $5-$10k USD each.
(This is excluding flights and the costs of getting to Chile) This should
cover your rent deposit, and float your cash flow until the reimbursement
starts to hit. (Typically in month 2 after arrival)

As for mentorship, this has been the weakest part of the program. Young
entrepreneurs need experienced veterans when solving business model
roadblocks. SUP is actively working to bring more investors, mentors, and
support from all over the world here to help improve this situation.

Although, there are plenty of brilliant people in the program who are willing
to help you as well. It is what you make it, and you need to hustle. There is
little accountability and pressure to show results, hence leaving you in
ultimate control of what you get done in your 6 or 7 months here.

One really positive comment about the program is it like a "family". I can't
speak about YC, MassChallenge, or other incubators, but all the SUP companies
are in this together versus being competitors to each other. This atmosphere
fosters positive collaboration between our start-ups, and I know I can go to
any other company in the program and ask for help.

As for the environment, SF and NY are much better for meet-ups and meeting
like-minded people, but surprisingly a decent tech scene is also developing
here.

My experience has had it's ups and downs, but overall I have learned a lot,
met amazing people, and given the chance again - I would still have decided to
come to Chile.

To sum it up... You get $40k at 0% equity. The rest is up to you.

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petedoyle
Remember, you'll need $5-10k USD to front for airline tickets, housing, etc
before the reimbursement process kicks in. Supposedly it can take 1-2 months
after arrival to see your first reimbursement.

~~~
chefsurfing
This is true. If possible it is best to start with $10k of extra funds beyond
this in order to remove any worry of cash-flow issues. We are participating in
Round 3 and the experience although not without it's challenges has been quite
positive so far. Startup Chile held a graduation party on Friday for Round 2.
Most of the teams are leaving Santiago either this week or within a few weeks
and it is obvious they would prefer to continue. The staff and fellow
entrepreneurs are most supportive of each other.

Be prepared to spend about one month just settled when you arrive. Most
important advice I can give is to work on finding an apartment before you
arrive to Chile as this has been a challenge to many who arrive. Startup Chile
connects each team with a local who can help you by visiting apartments before
you even arrive. Also, spring time will be coming soon and if it makes sense
for your team, you can stay anywhere in Chile on the coast or in the south
where the natural surroundings and outdoor activities are quite inspiring.

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jmelul
This is a great way to work on your venture and be part of a community of
entrepreneurs from all over the world. The biggest plus is the constant
collaboration within the co-working space and the local ecosystem: exchange
ideas, get quick feedback, learn from others' area of expertise, boost up on
positive energy from the whole group...

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Aegist
Anyone who applies for the current round and makes it in should know that
there are more places to live in Chile than Santiago! Come live down in Pucón
with us. We've got a live Volcano in our backyard! Best place to go if your
business is tourism focused, for sure :)

~~~
sontek
How does living in Pucon work since you are required to attend 70% of the SUP
events?

~~~
rhyeal
Start Up Chile staff are very open to people living in different parts of the
country and work to make the program fit with what your start up needs.
Attending SUP events, Meetups, and other events are a critical part of the
program, but joining via Skype, phone, or other technology methods is
generally just fine.

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ojosef
I am alumni, with my Startup Babelverse, any questions about this awesome
opportunity feel free to contact us over at our website.

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ew
One thing to keep in mind is that Start-Up Chile only administers the grant
process, they do not provide any mentorship or advice.

~~~
nckpark
This is partly true. Start-Up Chile makes a big effort to bring in speakers
and mentors. That being said, Santiago isn't Silicon Valley, and Start-Up
Chile doesn't have the network of a YCombinator or TechStars. I'll also say
that outside of formal mentoring, there is a lot of value in the community of
international entrepreneurs that take part.

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rhyeal
Growing my company down here in Chile has been an amazing experience. Like
Ian's comment, I was also in a bit of a rut in the States. The international
experience alone is critical to any good business - especially if you are from
the US where the mentality is much more single-nation focused.

I've seen more opportunity here for actual business entrepreneurship - more
than just an app or webpage - than I've seen elsewhere in the world. I'm a big
fan of the business environment in Chile for both growing your existing start
up or possibly ditching your brilliant idea in favor of an even better one you
discover here!

The networking and mentorship will improve with time, but the LatAm networking
is unlike anything in the States. In Chile, there's a good chance the person
standing next to you is only two phone calls away from the President of a
major company.

~~~
IanOzsvald
Certainly coming here I've realised that I ought to consider non-English
languages (particularly Spanish) for web apps. Most folks here in Chile don't
speak much English yet their middle class has a growing disposable income.
LatAm's power does seem to be growing. Also some of the companies in our
rounds (Round 2+3) were quite inspirational - water purification, classroom
neuroscience, human-waste->fertiliser solar cookers, solar powered food
cookers, wind farms, safe remittance systems for migrant workers. I'm most
curious to see what Round 4 brings (quad-copters from one I think).
Accelerator high-tech is more than Web2.0.

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IanOzsvald
Just to keep things connected a week later (June 27th+) a critique with
pros/cons of StartupChile was posted here:
<http://news.ycombinator.com/item?id=4171252>

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nckpark
I'm also participating in the current round and happy to answer questions.
Start-Up Chile isn't for everyone, but it is an awesome opportunity if the fit
is right and a great way to experience a new part of the world.

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gjmveloso
The best option to bootstrap your startup and change your life with some of
the greatest people on the Earth. Please, apply right now!

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RoyceFullerton
I'm currently down in Santiago and part of round 3. I'm happy to try to answer
any questions anybody has about the program.

~~~
petedoyle
Is my comment above re: needing $5-10k out of pocket pretty accurate?

Also, how much time do you find yourself spending on program overhead
(preparing receipts, meetups/mentoring/trips/presentations/etc)?

~~~
RoyceFullerton
Yes, they make it pretty clear that you should have $5k per person to get you
on your feet. I took it pretty lightly but it ended up being quite accurate
and we ran into some cashflow issues.

As for time on program overhead, minimum probably 2 days a month. Much more if
you want to be more involved with the community. You are not forced to do much
more than the reimbursement process and finding some ways to give back to the
Chile. You could go to meetups and such 3-4 days a week if you wanted, a lot
going on.

~~~
vammok
I'd say 10k would help, a lot. If you have this quanta of money in the bank,
you can cover all initial expenses via debit cards, and not using credit cards
will immensely speed up your reimbursements.

~~~
RoyceFullerton
Great point. I initially thought I would float everything on my credit card
until I got reimbursed. I found out it doesn't work like that unfortunately.
You have to show that the credit card has been paid off for the transactions
you are submitting.

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MangaCorta
The best thing about this is the collaboration atmosphere that is generated.
Instant help and Feedback!

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robbless
great program, great city, great people

