5k is just enough per team member, but not per team. I write this based on our recent experience; Our team of three arrived about two weeks ago to participate in the Startup Chile program. My suggestion is that your Startup Chile team needs to have 2 months of up-front expenses covered as it takes time to get the reimbursement process started. Between travel insurance, flights, apartment rental ( guarantee, deposit, two-months payment ), dining out and getting to know Santiago, bureaucratic payments ( such as the $470 USD immigration payment at the airport of US citizens upon arrival ), Visa application payments etc. You will be reimbursed for all of these expenses but combined together all within two months they are considerable.
We are enjoying very much participating in the program so far. It truly is the deal of a lifetime. The atmosphere is great and the impact it is having on Chile is becoming visible. Santiago is a great city with a higher quality of life than many cities in North America or Europe today. We are honored to participate in Startup Chile and I can already suggest it without reservation to any serious entrepreneur.