CORFO

Name

CORFO

Legal name

Corporación de Fomento de la Producción

Website

https://corfo.cl

Company type

Private

Founded year

1939

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Administration of Economic Programs (9261), Grantmaking and Giving Services (81321), Public Administration (92)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

akta.pro secondary industries

Development Finance & Blended Finance Facilities (BPADAOAD), Economic Growth, Trade & Private Sector Development Programs (BPADABAF), Program & Project Implementation (TA Delivery) (BPADAEAA), Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)

Keywords

• Economic development agency
• Government innovation grants
• Startup acceleration programs
• R&D tax incentives
• Venture capital facilitation

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Distribution channels5 records

Marketing channels11 records

Core offering

CORFO (Corporación de Fomento de la Producción) administers government-funded economic development programs in Chile, including grants, subsidies, co-financing, R&D tax incentives, and equity-free funding for startups, SMEs, and strategic sectors. It operates startup accelerators (Start-Up Chile), SME digitalization support networks, venture capital facilitation platforms, and sector-specific programs targeting green hydrogen, critical minerals, mining, and agriculture. Programs are delivered through 16 regional offices, an online SGP portal, and authorized intermediary networks.

Product overview

CORFO (Corporación de Fomento de la Producción) is Chile's state-owned economic development agency that operates as a multi-platform ecosystem rather than a single unified product. The core portfolio includes acceleration programs (Start-Up Chile BIG Program, StartupLabs), data platforms (Data Innovación, Data Territorios), investment facilitation (Venture Capital Chile), and various support mechanisms for entrepreneurs and businesses. These platforms collectively support Chile's innovation ecosystem through funding programs, training tools (El Viaje del Emprendedor), human capital scholarships (Becas Capital Humano), tax incentives for R&D (Ley de Incentivo Tributario a la I+D), digital assistance networks (Fortalece Pyme), and technology transfer initiatives (IP-CFT 2030). The agency's offerings span startup acceleration, regional development, green hydrogen development, critical minerals innovation, and SME digitalization across Chile's 16 regions.

Differentiator

Problem solved

Functional benefit

Products and services

• Start-Up Chile BIG Program CORFO's public accelerator program providing acceleration tracks (Build, Ignite, Growth), co-financing ranging from CLP 15 to 75 million, mentorship, free workspace, and connections with large companies for tech startups worldwide.
• Corfo Conecta Platform that brings together the innovation ecosystem and generates community among entrepreneurs and innovators in Chile.
• Data Innovación Platform that provides information and analysis on innovation and technological development in Chile, supporting evidence-based decision-making.
• Data Territorios Platform developed by CORFO's Gerencia de Desarrollo Territorial that offers visualization and analysis tools for subnational socioeconomic activities, territorial dashboards, reports, and territorial fact sheets across Chile's regions.
• Venture Capital Chile Platform that drives investment and financing for innovative ventures, connecting entrepreneurs with venture capital opportunities.
• Becas Capital Humano Human capital scholarship program offering specialization courses to strengthen labor capabilities in strategic sectors, co-financed by CORFO.
• Red de Asistencia Digital Fortalece Pyme Digital assistance network that supports small and medium enterprises in their digitalization process and productivity improvement throughout Chile.
• Ley de Incentivo Tributario a la I+D Tax incentive law that allows companies to deduct part of their investments in research and development, promoting corporate R&D activities.
• El Viaje del Emprendedor CORFO's training tool that provides education to people at different stages of business development, guiding entrepreneurs through their journey.
• IP-CFT 2030 CORFO and Ministry of Education program that drives innovation and technology transfer in Professional Institutes and Technical Training Centers.
• Activa Empresarias Initiative by CORFO, ProChile, and UN Women that drives women-led enterprises by connecting them with new business opportunities.
• Programa Transforma CORFO program that articulates public and private actors to diversify the Chilean economy and advance sustainable and innovative productive development.
• StartupLabs CORFO's startup acceleration program providing support for emerging technology companies.
• Biblioteca CORFO (Library Catalog) CORFO's library catalog system (Koha) providing access to books, audiovisual materials, and collection resources including technology and innovation literature.

Quantifiable outcome

• 69 Chilean mining technology and innovation providers positioned in international markets through Export Mining Suppliers Portfolio, with interest from Peruvian mining companies and Brazil
• +3 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

15 partnerships are on record, tiered core and major.

• Corporación Alta LeycoreStrategic or Co-development Partner · 31 March 2026Corporación Alta Ley presented an updated Export Mining Suppliers Portfolio at PDAC 2026, incorporating 19 new companies to reach 69 technology and innovation providers for the mining sector, developed in collaboration with Chile's Ministry of Mining, ProChile, and Mesa Nacional para el Desarrollo de Proveedores.
• University of ConcepcióncoreStrategic or Co-development Partner · 13 January 2026University of Concepción partnered with Corfo on a $5 million green hydrogen demand-side project for industrial green reagent production, integrating 1,000 tonnes/year of green hydrogen into chemical manufacturing processes for mining and pulp/paper industries in the Biobío region.
• Occidental Chemical ChilemajorStrategic or Co-development Partner · 13 January 2026Occidental Chemical Chile partnered with Corfo on a $5 million hydrogen demand-side project involving industrial green reagent production for mining and pulp/paper industries, integrating green hydrogen into chemical manufacturing processes in the Biobío region.
• Eka ChilemajorStrategic or Co-development Partner · 13 January 2026Eka Chile partnered with Corfo on green hydrogen demand-side industrial applications, receiving $5 million in subsidies for projects integrating green hydrogen into chemical manufacturing processes for mining and pulp/paper industries in the Biobío region.
• Ministry of Mining (Chile)coreStrategic or Co-development Partner · 1 January 2026Chile's Ministry of Mining collaborates with Corfo on the Export Mining Suppliers Portfolio developed with ProChile and the Mesa Nacional para el Desarrollo de Proveedores to position Chilean mining suppliers in international markets.
• ProChilecoreStrategic or Co-development Partner · 1 January 2026ProChile collaborates with Corfo on the Export Mining Suppliers Portfolio to support international market positioning of Chilean mining technology and innovation providers, with two portfolio suppliers already attracting interest from Peruvian mining companies and significant opportunities in Brazil.
• Mesa Nacional para el Desarrollo de ProveedorescoreStrategic or Co-development Partner · 1 January 2026National Mesa collaborating with Corfo, ProChile, and the Ministry of Mining on the Export Mining Suppliers Portfolio to develop and position Chilean mining suppliers in international markets.
• Almería Greenhouses (Spain)majorStrategic or Co-development Partner · 1 February 2025Corfo used Almería's greenhouse expertise to modernize intensive horticulture in the Arica and Parinacota region, with a technology mission bringing 10 horticultural companies to Almería in February 2025 to study production systems including pathogen-free soil practices, new greenhouse structures, and integrated pest management.
• Corteva (Agricultural Sciences)majorTechnology or Integration · 1 January 2025Major seed and research company that established operations in the Arica and Parinacota region of Chile's Atacama Desert, developing resilient crop varieties under extreme conditions as part of the greenhouse modernization initiative supported by Corfo.
• Bayer (Crop Science Division)majorTechnology or Integration · 1 January 2025Bayer's crop science division established operations in the Arica and Parinacota region to develop resilient crop varieties under extreme Atacama Desert conditions, collaborating with the greenhouse modernization ecosystem supported by Corfo.
• Fitó (Semillas Fitó)majorTechnology or Integration · 1 January 2025Spanish seed company Fitó established operations in the Arica and Parinacota region to develop resilient crop varieties under extreme Atacama Desert conditions as part of Chile's intensive horticulture modernization supported by Corfo.
• Fundación ChilemajorStrategic or Co-development Partner · 1 January 2025Fundación Chile signed a strategic agreement with SOFOFA and announced its ChileFinland Platform focused on sustainable mining, forestry bioeconomy, and intelligent regional development as part of its 50th anniversary strategic roadmap, with the NEMa Technological Hub for New Energies in Magallanes.
• SOFOFA (Sociedad de Fomento Fabril)majorStrategic or Co-development Partner · 1 January 2025SOFOFA signed a strategic agreement with Fundación Chile and is connected with Corfo's ecosystem programs to promote technological innovation, productive sustainability, and industrial decarbonization in Chile.
• Ministry of Mining (Chile)coreStrategic or Co-development Partner · 1 January 2025Chile's Ministry of Mining works with Corfo on critical minerals development, particularly lithium extraction through new concession contracts with SQM and Albemarle, supporting the country's position in global lithium production.
• Chile's National Cybersecurity Agency (ANCI)majorStrategic or Co-development Partner · 1 January 2025Chile's National Cybersecurity Agency created through the Cybersecurity Framework Law, with Corfo supporting cybersecurity development initiatives to address an estimated shortage of approximately 28,000 cybersecurity professionals in Chile.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• BNDES (Banco Nacional de Desenvolvimento Econômico e Social): Brazil's national development bank and the closest functional peer to CORFO. BNDES deploys blended finance, grants, and subsidies to drive Brazilian economic development, innovation, and strategic sectors (renewables, critical minerals, industry) at national scale — a near-mirror of CORFO's mandate within Chile.
• COFIDE (Corporación Financiera de Desarrollo): Peru's state-owned development bank providing second-tier financing, structured credit, and blended finance for infrastructure, innovation, and productive development. Directly comparable in role, instruments (grants, co-financing, guarantees), and Andean regional context.
• Bancóldex: Colombia's development bank focused on productive financing, SME support, innovation, and internationalization — replicating CORFO's mandate at Colombian scale. Comparable in deploying blended finance and managing national innovation programs.
• BICE (Banco de Inversión y Comercio Exterior): Argentina's state development bank providing long-term financing for investment projects, SMEs, and infrastructure. Comparable instrument set and Latin American public-mandate profile to CORFO, though operating in a more macro-volatile environment.
• Findeter: Colombia's territorial development bank financing infrastructure, urban development, and productive projects. Comparable in deploying concessional finance for regional economic development alongside national innovation programs.

Broad incumbents

• KfW Development Bank: Germany's federal development bank and a direct financial partner to CORFO for hydrogen co-investment (€100M). Operates a far larger and broader global portfolio, but uses comparable blended finance, concessional lending, and program co-financing instruments that mirror CORFO's domestic mandate internationally.
• European Investment Bank (EIB): EU's multilateral development finance institution and a direct financial partner to CORFO (€100M for hydrogen). EIB's energy, climate, and innovation lending instruments directly overlap with CORFO's strategic sector programs, though EIB operates at supranational scale.
• IDB Invest (Inter-American Development Bank Group): Private-sector arm of the IDB Group providing blended finance, concessional lending, and technical assistance for development across Latin America. Directly relevant given Chile's IDB membership and overlap in sustainable infrastructure, innovation, and SME programs.
• CAF (Development Bank of Latin America and the Caribbean): Latin America-focused multilateral development bank financing infrastructure, climate, and productive development projects. Shares mandate and instrument set with CORFO and is an active financier across the same Andean and Southern Cone geographies.

Regional players

• BanEcuador / BanCoopéchad (analogous national development banks): National public development banks in neighboring Andean economies that mirror CORFO's domestic mandate of productive financing, SME support, and innovation programs. They serve as comparable regional benchmarks for program design and capital deployment intensity even though they do not directly compete in Chile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/corfo
• YouTubeyoutube.com/corfotv
• Facebookfacebook.com/CorfoChile
• LinkedInlinkedin.com/company/58338
• Instagraminstagram.com/corfochile

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments116 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CORFO