Chile gives entrepreneurs $40000
Apart from its amazing natural beauty and diversity – as one would only expect from the longest N-S country in the world - the Chilean economy is the most competitive in Latin America (cf wikipedia):
The Global Competitiveness Report for 2009-2010 ranks Chile as being the 30th most competitive country in the world and the first in Latin America, well above from Brazil (56th), Mexico (60th) and Argentina which ranks 85th. The Ease of doing business index created by the World Bank lists Chile as 49th in the world that encompasses better, usually simpler, regulations for businesses and stronger protections of property rights. The OECD agreed to invite Chile to be among four countries to open discussions in becoming an official member. In spite of this, Chile still suffers from many problems common in Latin America, ranking higher than such countries as Mexico in terms of economic inequality and unemployment rate (9.7% in 2009).
Chile has started its economic reforms under a ruthless military dictatorship but managed to continue them under democratic rule. Despite its status in Latin America, Chile is not a rich country and as such, the $40000 will take you a long way, possibly longer than the 6 months entrepreneurs are required to stay.
Considering this smart focus on the economy, it’s no wonder thus that Chile treasures entrepreneurship and talent. The program director, Nicolas Shea Carey, is quite talkative:
“The minute you step onto Chilean soil there will be a mentor waiting. We’ll help you open bank accounts, connect you to all the engineers and the engineering schools” says Nicolas Shea Carey, the program’s director. (..) Start-Up Chile plans to recruit the first 100 entrepreneurs from Silicon Valley over the next year and by 2014 bring 1000 entrepreneurs into the program investing about $4 million to fund them. They will be recruited from all over the United States and eventually technology hubs around the world, says Alcaino.
To apply, you have to present a business plan in 7 minutes or less via a YouTube video (and answer at the end “why do you want to come to Chile?).
It seems that Chile feels as if it is indebted to the US (and I guess it’s not just a feeling, but also a contract). Or maybe they are just trying to erase the impression made by the movie Missing with Jack Lemmon and Sissy Spacek..
Sources / More info: wiki-chile, wiki-chile-economy, tc-chile, startup-chile, forbes-chile, apply, main-application-chile, missing-82, yt-chile
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