Written by León Lanis V., Paralegal
Last month, Chile’s President Gabriel Boric together with the National Production Development Corporation (CORFO), announced a ground-breaking project that seeks to rocket over 200 technological startups in the nation, with the creation of the “StartUp Campus”.
The StartUp Campus pursues the idea of making Chile a regional hub for tech companies, in its core, it focuses on the incubation and acceleration of innovative and highly tech-focused companies that are just starting or have a few years under their sleeve, in order to sandbox their ideas in hardware and software labs, promote the investigation in the production of new technological solutions, connect such companies with CORFO’s long list of partners and help them reach investors such as angel investors or venture capital.
THE CAMPUS
With this announcement, CORFO’s vice-president, Mr. José Miguel Benavente, announced that this hub will have a physical space to receive over 200 startups.
This place will have over 14 floors with a total of 4,000 m2 and different spaces to foment innovation. This building will include auditoriums, software and hardware labs, biological and chemical labs, offices, co-work spaces, and more.
This new building will be located in the heart of Santiago, near all essential government institutions in Santa Rosa 76, Santiago.
THE INVESTMENT
This announcement shows the government’s shift onto creating new businesses and promoting the build-up of new technological solutions.
Gabriel Boric’s administration will invest over USD $11 Million in the construction of this hub. The resources come from contracts from CORFO and the company Albemarle, one of the country’s biggest lithium companies.
This project will also count with investment from Abu Dhabi’s Sovereign Fund.
THE REACH
CORFO announced that the first five years of this project will seek to reach over 200 national startups that are focused on creating new ecological solutions.
This comes in hand with the national lithium strategy, for these companies will help further expand the government’s concerns on environmental issues relating to lithium extraction in the country.
CONCLUSION
The launch of StartUp Campus signifies a monumental stride towards positioning Chile as a beacon of technological innovation in Latin America. By fostering collaboration between the public and private sectors, the Chilean government aims to cultivate a thriving ecosystem where new startups can access crucial funding, state-of-the-art facilities, and invaluable industry expertise. This initiative not only seeks to accelerate the growth of tech-focused companies but also aligns with the national strategy to promote sustainable practices, particularly in the realm of lithium extraction. With substantial investments and a visionary approach, Chile is poised to become a regional hub for technological advancement, paving the way for a more innovative and sustainable future.
