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The Chilean government has a sweet deal for VCs in Chile, effectively loaning them money to raise their funds, then financing it for them if successful and writ
by nirvana 15y ago
The Chilean government has a sweet deal for VCs in Chile, effectively loaning them money to raise their funds, then financing it for them if successful and writing it off if not successful.
Startup Chile has some Silicon Valley presence with visits by Dave McClure (500 startups) and the CEO of Groupon recently.
But this program is not comparable to YC. YC is much more competitive, has been around a lot longer and has made a name for itself already.
The $40k is per company, and it is provided at a %90 reimbursement. In other words, you spend $44k in reimbursable expenses to get the $40k. The expenses include funds for the founders, coverage of living expenses, legal expenses, etc. Looking at the reports of past participants, it looks like you can live pretty well in a nice part of town.
- FD3SA 15y agoThank you nirvana and andrewcross for the salient information. One more pertinent question: how is medical insurance handled in Startup Chile?
- nirvana 15y agoI want to say that I heard good chilean health insurance was cheap, but I might be mistaken. I assume you buy chilean medical insurance, or you can keep your american medical insurance if you are an american. Most american medical insurance will cover you out of the country, for reasonably short trips, though I think you'd want to check into it. Since we travel a lot, we've got travel specific insurance from one of the companies that focuses on that market. There are a fair number of them that do so but the terms vary. (We've just changed and my cofounder is the one who handles that so I don't remember the name of the company off hand.)
- andrewcross 15y agoIn order to get your visa, you have to show that you've purchased travel medical insurance for the duration of your trip. I got mine through Blue Cross.