101 new startups will join Start-Up Chile‘s program from next October, the government-funded incubator announced at the end of its second Demo Day. This is the result of its fifth application process, during which it received a whopping 1,509 applications from 61 countries.
It’s interesting to note that Chilean startups now represent 26% of the selected companies. This makes Chile the best represented country in the program’s new batch – a turning point for Start-Up Chile. As you may know, the first editions of the program were only open to foreign startups interested in coming to Chile for a few months in exchange for a $40,000 grant.
F**k it, we'll do it live!
Unsurprisingly, it then opened up to local companies, which are now increasingly aware of this opportunity and keen to participate in the program. In that sense, the fact that Chile now tops the ranking is a sign that Start-Up Chile may be achieving its main goal – which is to foster entrepreneurship and position the country as a global tech hub.
Despite this large Chilean presence, the next batch will still be very international, with startup members coming from 37 countries – including Pakistan, Azerbaijan and Nepal. USA is the second best represented country (24% of selected companies), followed Argentina, Brazil, India and the United Kingdom (with 4% each).
The diversity doesn’t stop here, as the startups focus on different sectors, from Social Media (16%) to Education (14%), e-commerce (13%) and IT & Enterprise Software (8%). Remaining categories include Energy & Clean Tech, Healthcare and Biotechnology, Media, Mobile & Wireless, Natural Resources, Social Enterprise and Tourism.