Monday, August 5, 2013

Chile embraces the PII ecosystems approach: how to create "Chilecon Valley"




A recent article in The Economist underlines the successful efforts in Chile for establishing social ecosystems that support incubation and acceleration of new startups inviting investors and entrepreneurs from all over the world with the Startup Chile program.



And creating "Chilecon Valley", where all new ideas are encouraged and supported by angel investors, government and PII-oriented universities




Creating more than 1,000 new companies with 40 million dollars in grants and financil backing



From public and private funding, including public startups like Groupon that share their experiences with the new entrepreneurs




And legendary "angel capitalisyts" from Silicon Valley like Steve Wozniak, one of Apple's founders




Like the PII, the program graduates business every year in cohorts



And governments support the program accross political parties



Chile has still a longo road of change ahead -such as modernizing excessive regulation and breaking stiffling monopolies- but is going ahead at a pace that helped it become in 2009 the first Latin American country in joining the OCDE.

Brasil brings in its huge domestic market, operating as the China of the region, whereas Chile has taken advantage of its more modern and open economy and its highly educated entrepreneurs and rule of law, playing the role of the Singapore of Latin America.

Food for thought, and examples to follow

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