Two African startups (Vestracker and WinSenga/Cipher256) have been selected to participate in the 15th generation of Startup Chile, a seed accelerator based in Santiago, Chile.
The programme received over 2400 application from startups across the world and from 12 industries such as IT & Enterprise Software, Education and Healthcare. Vestracker (a Saas product for global logistics companies in Ghana) and WinSenga/Cipher256 (an intelligent Smartphone-based ultrasound alternative in Uganda), alongside 95 other startups will participate in the Startup Chile 15th generation. Startup Chile will invest more than US$2.7 million in all the 97 startups.
20 million pesos (About US$35,000) will be on offer for the startups, a working visa for a year and access to the largest startup community in the world to accelerate their startups in Chile. This is coming after 3 African female-led startups (500Apprentices, content on demand and Girlfrynd) were recently selected to join the second generation of The S Factory — a pre-acceleration program initiated by the Government of Chile and Startup Chile to support first time female entrepreneurs in building high impact start-ups.
The Startup Chile programme commences on February 15, 2016. The founders of the startups must be in Chile that week to begin the orientation process and start their experience as Start-Up Chile entrepreneurs. Also, the entrepreneurs must remain in the country for at least 6 months (the duration of the program) and help spread the innovation spirit through participating in social impact activities, sharing their experiences with the Chilean ecosystem.
Upon successful completion of the programme, the startups will be eligible to apply to Startup Chile’s new follow-on fund, SCALE which offers 60 million pesos (approximately US$90,000) to startups that have significant traction, are generating revenue and need extra capital to grow in Chile and expand to the rest of Latin America.
Startup Chile was created by the Chilean Government with the sole objective of turning Chile into the innovation and entrepreneurship hub of Latin America by attracting the world’s brightest entrepreneurs to bootstrap their startups in Chile.