What Start-Up Chile does

Start-Up Chile is a public startup accelerator operated under CORFO (Corporación de Fomento de la Producción), Chile's national economic development agency, and headquartered in Santiago. Founded in 2010 as the world's first publicly funded startup accelerator, the program distributes equity-free grants to early-stage technology entrepreneurs from around the world, deliberately taking no equity in portfolio companies. It runs three tiered programs segmented by company stage: Build (4-month pre-acceleration, CLP 15M ≈ USD 15K, up to 50 startups per generation), Ignite (4-month acceleration, CLP 30M ≈ USD 25-30K with a CLP 20M extension, up to 30 startups), and Growth (8-month scale-up, CLP 75M ≈ USD 100K, 10-15 startups), alongside a Female Founder Factor initiative that prioritizes women-led teams.

The program's technology footprint is operational rather than product-facing: a tiered application and evaluation workflow runs through the Charly.io platform, supported by a network of 50+ mentors and corporate partners including Walmart, Entel, SURA, Johnson & Johnson, Santander, AWS, and Buk. Service delivery combines free co-working space in Santiago with structured mentorship, board sessions, and corporate introductions. Since inception, Start-Up Chile has supported more than 3,000 startups and 6,000 entrepreneurs from 100+ countries, with portfolio outcomes including NotCo (USD 1.5B valuation), Cornershop (acquired by Uber for USD 459M), and Buk (USD 850M valuation), alongside reported cumulative portfolio metrics of USD 2B+ in capital raised and USD 5.88B in portfolio valuation.

The business model is government appropriation rather than commercial revenue. CORFO funds the program and its grant disbursements, and Start-Up Chile generates no top-line in the conventional sense. Applications are free and open globally, and selection is competitive rather than paid. Distribution runs through digital channels (startupchile.org, blog, Instagram, LinkedIn), alumni word-of-mouth across 100+ countries, and increasingly through embassy-led international outreach. The program is operationally lean, with 11-50 employees, and competes not on financial returns but on ecosystem credibility, network density, and its first-mover position as the original public accelerator model.

Name

Start-Up Chile

Legal name

Start-Up Chile de Corfo

Website

https://startupchile.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Start-Up Chile is a Santiago-based, CORFO-funded public startup accelerator founded in 2010 that provides equity-free grants, mentorship, and co-working space to early-stage technology entrepreneurs from 100+ countries through Build, Ignite, and Growth tracks.

Ownership category

akta.pro rank

Product category

Startup Acceleration Services

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321), Educational Support Services (61171)

SIC

Services-Management Consulting Services (8742), Services-Social Services (8300)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industry

Corporate Accelerators & Startup Programs (FSANAHAD)

Keywords

• Startup accelerator programs
• Equity-free funding
• Early-stage acceleration
• Public innovation policy
• Founder mentorship

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, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Government-Funded Program Operations: Start-Up Chile is a public policy accelerator funded by CORFO (Corporación de Fomento de la Producción), a Chilean government economic development agency. The program provides equity-free grants to startups and does not take equity in return. As such, Start-Up Chile does not generate revenue in the traditional commercial sense — it is a government expenditure program aimed at fostering innovation and attracting international talent to Chile. The startups within the program generate their own revenue through their respective business models.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Start-Up Chile operates tiered equity-free startup acceleration programs — Build (pre-acceleration), Ignite (acceleration), and Growth (scale-up) — funded by Chilean government agency CORFO. Selected founders receive non-dilutive grants ranging from CLP 15 million to CLP 75 million, free co-working space in Santiago, mentorship, visa support, and access to a global alumni network of 3,000+ startups from 100+ countries. The Female Founder Factor sub-brand provides gender-focused support and enhanced funding percentages for women-led teams.

Product overview

Start-Up Chile is a public startup accelerator operated by CORFO, offering three tiered acceleration programs—Build (pre-acceleration), Ignite (acceleration), and Growth (expansion-stage)—alongside the Female Founder Factor initiative for women-led startups. All programs provide equity-free funding, mentorship, and coworking space, with funding ranging from CLP 15 million to 75 million. The portfolio showcases successful alumni including NotCo (AI food tech unicorn), Lab4U (scientific education platform), and SimpliRoute (logistics SaaS), representing over 3,000 startups that have generated USD 2 billion in sales and USD 5.8 billion in portfolio valuation.

Differentiator

Problem solved

Functional benefit

Brands

• Female Founder Factor: Initiative to empower women in the entrepreneurial ecosystem, providing support, networking, and funding opportunities for female-led startups.

Products and services

• Build A 4-month pre-acceleration program for early-stage startups, accelerating projects from validated idea to early-stage prototype. Provides CLP 15 million (approx. USD 15K) equity-free funding, mentorship, and free co-working space in Santiago, Chile.
• Ignite A 4-month acceleration program for startups with functional products seeking product-market fit to scale sales. Provides CLP 30 million (approx. USD 25–30K) equity-free funding with possibility of CLP 20 million extension, plus mentorship and corporate connections.
• Growth An 8-month acceleration program for startups in expansion stage, supporting capital raising, market expansion, and specialized talent hiring. Provides CLP 75 million (approx. USD 100K) equity-free funding for internationalization.
• Female Founder Factor A gender-focused initiative empowering women in the entrepreneurial ecosystem through community, academy, acceleration support, and ecosystem connections. Women-led teams receive up to 90% funding priority in Ignite and at least 50% of Build generation slots.

Quantifiable outcome

• USD 2+ billion in global sales generated by portfolio companies
• +4 more outcomes

Named customers4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability15 records

Partnerships

Ten partnerships are on record, tiered core, supporting and minor.

• CORFO (Corporación de Fomento de la Producción)coreStrategic or Co-development PartnerCORFO is the Chilean government's economic development agency that funds and oversees Start-Up Chile as a public policy initiative. Founded in 1939, CORFO is one of Chile's oldest and most important financial development institutions, providing the funding, institutional framework, and policy mandate for SUP's operations.
• WalmartcoreGTM or Marketing PartnerWalmart is a corporate partner supporting Start-Up Chile's ecosystem. As one of the world's largest retailers, Walmart participates in corporate venturing and startup scouting initiatives, providing portfolio startups with potential commercial partnerships and market access.
• SURAcoreGTM or Marketing PartnerSURA (Grupo SURA) is a Latin American financial and insurance services company that partners with Start-Up Chile as a corporate partner, engaging in innovation programs and startup scouting.
• Johnson & JohnsoncoreGTM or Marketing PartnerJohnson & Johnson (J&J) is a global healthcare company that participates as a corporate partner in Start-Up Chile's ecosystem, engaging in startup scouting and corporate innovation initiatives.
• AWS (Amazon Web Services)supportingTechnology or IntegrationAWS provides technology infrastructure support to Start-Up Chile portfolio companies through the Ignite program, offering cloud computing resources and credits to help startups build and scale their technology platforms.
• EntelcoreGTM or Marketing PartnerEntel, Chile's largest telecommunications company, is a key corporate partner. Entel operates a corporate venturing model with Start-Up Chile, sourcing startups for innovation pilots and commercial partnerships. Cristóbal Muñoz, Gerenta de Innovación de Entel, has published content on the SUP blog about corporate-startup collaboration.
• BukcoreGTM or Marketing PartnerBuk is a Chilean HR technology startup that achieved a USD 850 million valuation after going through the Start-Up Chile program in 2018. Buk has since become a corporate partner, hosting program events and sharing its success story as a testament to SUP's value. It represents an alumni-turned-partner relationship.
• Embassy of Chile in South KoreasupportingStrategic or Co-development PartnerThe Embassy of Chile in South Korea hosted an event featuring Start-Up Chile CEO Javiera Araneda to promote collaboration between South Korean startups and the SUP program for Latin American market expansion. This represents a government-to-government innovation partnership.
• Genoma.workminorOthersFabián Martinez, founder of Genoma.work, serves as a mentor in the Start-Up Chile network. Genoma.work is mentioned alongside his mentoring activities.
• AderesominorOthersCamilo López, co-founder and CEO of Adereso, serves as a mentor in the Start-Up Chile network. Adereso is a 7-year bootstrapped company operating in 11 countries.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Seedstars: Swiss-based global accelerator focused on emerging markets with equity participation. Comparable in its emerging-market focus, tiered programming, and global cohort structure, though Seedstars takes equity stakes.
• Antler: Global early-stage venture firm and accelerator operating across multiple continents. Comparable as a cohort-based global accelerator, with strong founder formation programs and co-investor networks.
• Y Combinator: The world's most prominent startup accelerator, providing seed funding, mentorship, and a global founder network. Directly comparable as a general-purpose accelerator, though YC is private, takes equity, and offers larger check sizes.
• Techstars: Global accelerator network with mentorship-driven cohorts and equity participation. Comparable in tiered programming structure and corporate partner engagement, though it operates as a private for-profit entity.
• 500 Global: Global venture firm and accelerator with strong emerging-market presence. Comparable in its global cohort model, though it takes equity and operates across many geographies including Latin America.
• MassChallenge: Nonprofit startup accelerator with global programs and equity-free model. Closely comparable to Start-Up Chile's nonprofit/public funding structure and mission-driven approach, though headquartered in Boston.

Regional players

• NXTP Labs: Argentina-based accelerator focused on early-stage tech startups in Latin America. Comparable as a LatAm-focused accelerator program, with overlapping applicant pools and regional brand recognition.

Others

• Magma Partners: Latin American venture capital firm providing seed and Series A capital. Comparable ecosystem participant in the LatAm startup landscape, referenced in Start-Up Chile's network, though operates as a traditional equity-taking VC rather than an accelerator.

Emerging players

• Station F: The world's largest startup campus located in Paris, France, with strong government backing. Comparable as a publicly-supported startup ecosystem hub, though Station F is more of an infrastructure platform than an accelerator with equity-free grants.

Broad incumbents

• Wayra: Telefónica's corporate accelerator with a strong presence in Latin America, including operations in Chile. Comparable as a major regional accelerator serving Spanish-speaking markets, though backed by a corporate parent rather than a government agency.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/startupchile
• Facebookfacebook.com/startupchile
• LinkedInlinkedin.com/company/start-up-chile

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1110 records

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

Frequently asked questions about Start-Up Chile