Startup Chile — Government Startup Accelerator (CORFO)

Startup Chile was launched in 2010 by CORFO (Corporación de Fomento de la Producción), the Chilean government's economic development agency, as the world's first government-funded, equity-free international startup accelerator. The programme deliberately targeted foreign founders to catalyse a startup culture in Chile and attract entrepreneurial talent to the country.

Through four programme tracks — Start-Up Chile (seed stage), Scale (growth stage), S-Factory (women-only, launched 2013) and Cataliza (impact startups) — CORFO has supported over 1,600 startups from 85 countries, with more than 4,500 entrepreneurs participating. Portfolio alumni have collectively raised $998 million — 13.8 times CORFO's cumulative investment — and the portfolio is valued above $2 billion. Notable alumni include NotCo (valued $1.5B+), Cumplo and Fintual.

The model has proven highly transferable: it directly inspired the Colombian iNNpulsa accelerator, Mexico's INADEM programmes, and similar equity-free government accelerators in Peru, Argentina and Ecuador. Startup Chile is now a standard reference in OECD and World Bank reports on government innovation policy.

A documented limitation is retention: studies and Chilean press (La Tercera) found that fewer than 30% of international alumni remain in Chile post-programme, raising questions about net impact on the local economy. CORFO has responded through stricter Chilean-team requirements in recent cohorts and a 2026 pivot toward deep tech and scientific ventures.

Read the full analysis: https://startupchile.org