Startup Chile: The S Factory Pre-Accelerator

Enjoy the view from one of Santiago’s rooftop bars at this startup pre-accelerator especially for the ladies! Female-led scalable startups can apply to receive up to $15,000 in funding, as well as free coworking space, workshops and valuable perks.

Applications for the next session open June 13 to June 27, 2017. Follow Lootstrap on Facebook for updates!

Award Amount

  • $10,000,000 CLP (approx. $15,000 USD)
    • 90% of expenses paid by S Factory, team must cover 10%

Location

  • Santiago, Chile

Length

  • 12 weeks

Additional Benefits

  • Validate your idea, build an MVP and get ready for the next level of investment
  • Workshops and training from experienced entrepreneurs and mentors
  • Free coworking space in Santiago
  • Perks such as discounted airfare, free cloud hosting, software assistance, etc.
  • Network with other international startup companies
  • Demo Day
  • 1-year resident visa for founder and one team member specified in the application

Who Can Apply

  • Female-led, globally-oriented, scalable startups
  • Startups less than 6 months old and in the idea or early-MVP stage
  • All participants must be over 18 years of age
  • Must be fluent in English, basic Spanish recommended (program held in English)
  • Must have own health insurance for the duration of the program
  • No consulting, import/export, franchises, and other non-scalable businesses

Selection Criteria

  • Competence and leadership of the founder (35% of score)
    • Decision-making, networking and team-building skills
    • Roles played in communities of which she has been a member
  • Composition, qualification, and experience of the team  (15% of score)
    • Quality of the talent, background, experience and achievements
  • Market and competitive advantage (20% of score)
    • Concept validation of your idea, size of target market and ability to address it
    • Future competitors and growth opportunities
  • Product or service (30% of score)
    • Vision and potential for global impact, relevance to the target market
    • Attractiveness to future funding opportunities
  • Applications in English preferred
  • Pitch video
    • Introduce your team and show your passion, energy and dedication
    • Concisely explain your idea and how it solves a problem for your target market

Application Process

  • Written application via your free YouNoodle account
  • 2-minute pitch video
  • Letter of recommendation from a mentor, fellow entrepreneur, teacher, or colleague
  • Possible videoconference interview

Conditions

  • Grant will be delivered as reimbursement for eligible project expenses
  • Applicant must contribute at least 10% (approx. $1,725 USD) towards project
  • Beneficiary (the female founder) must be:
    • 100% dedicated to the project (not in school or working outside jobs)
    • Willing to relocate to Santiago for the entire 12-week program
      • Allow an additional month to take care of legal paperwork
  • Must have valid residence visa to enter Chile
  • Give back to the startup community through the Founders Lab
  • Terms and Conditions

Website

As always, this program takes ZERO equity!