South American Adventures

Taking flying leaps into the unknown

Startup Chile continues to receive high profile press coverage

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Since January 2011 I have been following the successes of Startup Chile and the creation of what many are now calling Chilecon Valley. Being here, I am pleased to see that the buzz and hype are very real.

Over the last year and half Chilecon Valley continued to receive fantastic press coverage from notable news broadcasters such as The Economics, CNN, Tech Crunch and more. Few days ago I Skyped with my good friend, Roland Eteri, who is very talented programmer currently based in Nigeria. He said is hearing a lot of good things about SUP Chile on CNN. Amusingly, he mentioned “so this is what you’ve been talking about for over a year” and “now I get why you went there” :). Indeed. It has been a great choice and the timing is fantastic. Chilecon valley is growing exponentially, the Chilean economy is robust and growing fast and the vibe here very positive. I am mixing pisco sours and ideas…I am loving it!

Below is a recent article from The Economist. It’s a good read giving some interesting insights. Notable points are that:

SUP is “interesting because it exploits the original Silicon Valley’s weak spot—America’s awful immigration system.”

“Since 2010, when Start-Up Chile started, some 500 companies and almost 900 entrepreneurs from a total of 37 countries have taken part.”

 “The programme has been a big hit with foreigners…Many rave about their time in the country, where they can write software code while sipping Pisco Sours and swapping tips with their peers.”

“The vide is very Californian here”

“There are not enough private venture capitalists to support young firms with money and advice.” (this presents an interesting opportunity for VCs to come and fill the void)

Read more via the link below

via Entrepreneurs in Latin America: The lure of Chilecon Valley | The Economist.

Thanks for reading

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Author: Miklos Grof

Miklos is the CEO and co-founder of Fundacity. Fundacity is making startups investing easier. Fundacity already supports all the notable accelerators in LatAm in their startup selection and management and they are expanding rapidly across Asia-Pacific and Europe. With the recently launched Fundacity Investments Clubs it seeks to simplify the startup investing process in emerging markets and make it accessible to more people. Miklos has unique and extensive experience in start-up formation, business development and venture financing. He has raised and evaluated investment offers in venture capital from angels and VCs from three continents for a variety of deals. He thrives at launching businesses and making sales in new geographies. Miklos currently serves as a financial advisor and mentor for various start-ups including Taggify (an online contextual advertising company based in New York and Buenos Aires). At Taggify, Miklos advises on fundraising, financial reporting to the board of investors, tax filling and cash flow management. Miklos completed his MsC in Finance at the London School of Economics and previously worked in corporate finance at PricewaterhouseCoopers in London, fund sales at UniCredit Vienna and economic research at Erste Bank Budapest. He is a Chartered Accountant with the ICAEW, Institute of Chartered Accountant England and Whales and is quinti-lingual. He is passionate about startups and entrepreneurship and spends his free time engaging with the startup community.

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