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Incubator/Accelerator
startupchile.org

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Investments

321

Portfolio Exits

7

Funds

1

Partners & Customers

1

About Start-Up Chile

Start-Up Chile is a program of the Chilean Government to attract world-class early stage entrepreneurs to start their businesses in Chile.

Start-Up Chile Headquarter Location

Chile

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Latest Start-Up Chile News

Why are Indian startup owners migrating to Chile?

Mar 31, 2022

For some entrepreneurs from India, the Andean country is ideal for launching into the US market, although others prefer to stay in Latin America. March 31, 2022 This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process. Although it is not close to Silicon Valley, like Mexico, Chile is becoming an attractive country for entrepreneurs from India , who seek to establish their businesses in Latin America. For them, the Andean country offers opportunities and government incentives. Shutterstock Gerardo Alonso Velasco Baratawidjaja, president of the Chile-ASEAN Chamber of Commerce , told the Chilean media outlet Rest of World that in his country: “There is a stable and smaller market, prone to testing and creating pilots for products and services; coupled with a friendly business environment and competitive consumer landscape, where many have disposable income to spend.” Lately, Indian startups have come to test the Chilean market. For example, data services firm Evalueserve to Toolyt, an AI-based personal assistance. In December 2021, the Indian startup DispatchTrack bought the Chilean Beetrack to grow its leadership in logistics technology in the country and in the Latin American region. The company powers more than 60 million deliveries each year for thousands of customers around the world. By purchasing Beetrack (Latin American leader in route planning and order monitoring software), DispatchTrack expanded its global presence with the addition of more than 850 clients in 20 Latin American countries, including Chile, Peru, Argentina, Colombia, Mexico and Costa Delicious. Other examples of founders from India looking to grow their businesses in Chile include Priyanka Srinias and Sasikanth Chemalamudi, who created The Live Green Company (LGC) in 2019. A food technology company that seeks to produce healthy, plant-based food using artificial intelligence, biotechnology and machine learning. In August 2020, LGC raised a seed round of one million dollars, with which it expanded to Peru and the United States. He had previously been part of the Start-Up Chile incubator. He was later able to relocate to Boston after raising $8 million in a second round. For these entrepreneurs, the Andean country is ideal for launching into the US market, although others prefer only to expand in Latin America. CHILE: LAND OF OPPORTUNITIES The Andean country has several free trade agreements and a retail market similar to that of the United States. Integration into international markets is important for those looking for a platform from which to scale. In addition, Chile's economic growth is favoring internationalization. In addition to this, Indian entrepreneurs report that India and Latin America (specifically Chile) have the same inefficiencies in the market, which allows their business solutions to be equally adopted and accepted there. In fact, Rest of World indicates, Start-Up Chile currently has 12 Indian companies making a place for themselves in the fields of software, biotechnology and gaming. In recent years, due to the aforementioned reasons, not only startups have settled in Chile, but also large companies, such as Tata Consultancy Services, Infosys, Polaris Group and ManageEngine, the enterprise IT branch of the Indian giant Zoho Corporation. And just as the Indian logistics startup, DispatchTrack, did, another option to settle in Chile is to acquire national companies, as did the Indian agrochemical giant UPL, which bought the Chilean company IngeAgro in September 2020. Entrepreneur Editors' Picks

Start-Up Chile Investments

321 Investments

Start-Up Chile has made 321 investments. Their latest investment was in Videsk as part of their Seed - II on March 3, 2021.

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Start-Up Chile Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/9/2021

Seed - II

Videsk

$0.04M

Yes

1

9/21/2020

Incubator/Accelerator

Indimin

Yes

1

9/21/2020

Incubator/Accelerator

Gueno

Yes

1

9/21/2020

Incubator/Accelerator

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10

9/21/2020

Incubator/Accelerator

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10

Date

3/9/2021

9/21/2020

9/21/2020

9/21/2020

9/21/2020

Round

Seed - II

Incubator/Accelerator

Incubator/Accelerator

Incubator/Accelerator

Incubator/Accelerator

Company

Videsk

Indimin

Gueno

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Amount

$0.04M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

1

10

10

Start-Up Chile Portfolio Exits

7 Portfolio Exits

Start-Up Chile has 7 portfolio exits. Their latest portfolio exit was Contagram on May 09, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/9/2022

Acquired

1

6/23/2020

Acquired

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10

5/1/2020

Acquired

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10

12/1/2016

Acquired

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10

6/3/2016

Acquired

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10

Date

5/9/2022

6/23/2020

5/1/2020

12/1/2016

6/3/2016

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

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Sources

1

10

10

10

10

Start-Up Chile Fund History

1 Fund History

Start-Up Chile has 1 fund, including Start-Up Chile SCALE.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/19/2015

Start-Up Chile SCALE

1

Closing Date

1/19/2015

Fund

Start-Up Chile SCALE

Fund Type

Status

Amount

Sources

1

Start-Up Chile Partners & Customers

1 Partners and customers

Start-Up Chile has 1 strategic partners and customers. Start-Up Chile recently partnered with Snap Compliance on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/1/2022

Partner

Costa Rica

Date

3/1/2022

Type

Partner

Business Partner

Country

Costa Rica

News Snippet

Sources

Start-Up Chile Team

11 Team Members

Start-Up Chile has 11 team members, including current Founder, President, Andreas Neuman.

Name

Work History

Title

Status

Lauris Bonnet

Founder

Current

Cristina Iore

Founder

Current

Cesar Loo

Founder

Current

Andreas Neuman

San Diego Tech Coast Angels, U.S. Air Force, Youbet.com, Viacom, and Fox News

Founder, President

Current

Nicolas Shea

Founder

Current

Name

Lauris Bonnet

Cristina Iore

Cesar Loo

Andreas Neuman

Nicolas Shea

Work History

San Diego Tech Coast Angels, U.S. Air Force, Youbet.com, Viacom, and Fox News

Title

Founder

Founder

Founder

Founder, President

Founder

Status

Current

Current

Current

Current

Current

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