You can’t talk about technology without mentioning Silicon Valley. This region has become a tech hub and is home to many prominent companies like Google, Apple, and Facebook. This has inspired many countries to embrace technology, with Chile being no exception. In fact, Chile has rapidly improved its infrastructure to help entrepreneurs fund and launch startups in the last couple of years. Here’s how Chile is trying to become the next Silicon Valley in Latin America.
To start, Chile’s government plays a significant role in Chile’s entrepreneurial world. It has created several programs to fund tech companies while hiring successful entrepreneurs from the Valley to dictate lectures and help officials, professors, and investors understand how things work in the tech world. Its government is a key player since venture capitals are not very abundant in Chile, and startups cannot stay in business without investments. The government has also created alliances and is working to instill entrepreneurship as a part of its education system. Thus, schools are pushing their students to think bigger and encouraging them to start their own companies.
Another strategic move by Chile is welcoming outside investors and entrepreneurs. Start-Up Chile, which offers a $40,000 grant and a one-year work visa to entrepreneurs who stay in Chile for six months, is a program created by Chile to attract promising startups. The main motive behind this initiative is to find and create innovative companies. It has managed to transform the business world in not just its own country but throughout the rest of Latin America as well. It has become a world-leading program, accelerating over 1,600 companies from 85 countries.
Although Chile still has a long way to go to become the next Silicon Valley, it is amazing to see just how much progress the country has made in the last couple of years. The market is getting bigger and bigger, and opportunities are open to everyone who offers promising and innovative ideas.
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