When asked can Chile make a Silicon Valley by pouring money into it?, the Chilean minister of economy speaking at Stanford responded that unlike other countries

When asked can Chile make a Silicon Valley by pouring money into it?, the Chilean minister of economy speaking at Stanford responded that unlike other countries (such as Russia, and now UK) Chile will try the following instead of pouring money into it: 1. Create Role Models (Young Chilean entrepreneurs that succeed) 2. Reform the laws (bankruptcy and immigration laws) 3. Invest in Universities to promote technology 4. Start networking programs with Silicon Valley (for example they brought a bunch of their entrepreneurs here to work for a while, and are taking some entrepreneurs from here to mix the cultures). In general he also said that they need to remove the negative view of failure somehow, which doesn't exist in silicon valley, but they haven't figured out how to approach this one yet.