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Entrepreneurs can obtain up to USD1 million to break into Latin America

Posted on September 3, 2019

Until September 29, 2019, startups from all over the world focusing on digital transformation and circular economy solutions may apply to APEC’s official call:

The selected startups will access up to USD1 million to start their operations in Latin America, through Fundación Chile´s venture capital area, ChileGlobal Ventures.


From August 5 until September 8, 2019, startups from all over the world looking to break into the Latin American market will be able to do so.

The APEC Business Advisory Council (ABAC) and ChileGlobal Ventures, the venture capital area of Fundación Chile, launched Inventing The Future, the first application process in the APEC CEO Summit context, that will help startups focused on solving challenges related to digital transformation and circular economy in different industries, entering one of the most promising markets.

In this call entrepreneurs will have the opportunity to access up to USD1 million to conquer the Latin American market, having Chile as their starting base spot. The prize money will depend on the growth stage the startups are in pre-seed or seed; up to USD 300K for the former, and up to USD1 million for the latter.

Those selected for investment will be connected to a large network of investors, mentors, large corporations, suppliers and local and international partners to scale their businesses. The financing and benefits will be provided by ChileGlobal Ventures, from Fundación Chile, an institution that has over 40 years of experience in the venture capital industry, with +20 exits executed and +USD 105 million invested in disruptive and high impact startups.

In addition to financing, startups will opt to become suppliers to the two main partners in this call: Entel ExploraLab, the open innovation area of Entel, the most important technology company in Chile and Perú; and CMPC, a Pulp, Packaging, and Tissue producer and distributor with 99 years in the market and presence in more than 45 countries. The winners will also have a chance to pitch in front of a 1,000 audience at the SME Summit in Santiago de Chile. This event will be held the same day as the APEC CEO Summit, in which the future of venture capital in the 21 countries involved in APEC will be reviewed and discussed. The best pitch will win a seat on a Roadshow to Singapore in 2020, to explore the market, possible partnerships, and clients.

To apply, the interested startups may visit the call’s web page:

This is the first time that an application process is being held in the context of the APEC CEO Summit in Chile.


About ABAC

The APEC Business Advisory Council (ABAC) is the private-sector arm of the Asia-Pacific Economic Cooperation. The main mandate of this council is to advise Leaders and other APEC officials on issues of interest to business. This private-sector body presents recommendations to APEC Leaders in an annual dialogue and advises APEC officials on business sector priorities and concerns. ABAC members are appointed by their respective economic leaders and represent a range of business sectors, including micro, small and medium enterprises (MSMEs).

About ChileGlobal Ventures

ChileGlobal Ventures is the venture capital area of Fundación Chile, an organization with more than 40 years promoting innovation and creating new industries for the economic growth of Chile and Latinamerica.

Over the years, ChileGlobal Ventures has partnered with +180 startups, invested +USD$ 105 MM and executed 19 exits. Also developed an Angel Investment Network, the most active in Chile and one of the most important ones in Latin America, connecting +90 angel investors. Recently, ChileGlobal Ventures launched its second fund, CLIN, financing between 20-25 stage seed startups focused on B2B markets and sectors associated with the sustainable use of natural resources.

About Entel ExploraLab

It is Entel’s open innovation program, which connects the organization’s internal challenges with the talent of digital and technological entrepreneurs, creating shared value, promoting innovation and generating high-impact solutions that make a contribution to improving the quality of service and people’s lives.

About CMPC

CMPC is a multinational corporation with almost 100 years of existence delivering sustainable solutions to its customers and consumers. The Company produces wood, pulp, packaging products, household and non-household personal care products, and tissue paper. Its products not only satisfy the needs of customers but are renowned for their quality and competitiveness, and for being manufactured from entirely renewable sources.

The Company operation is based on international partnerships contributing to the sustainability of the planet, the stimulation of local economies and positive impacts on adjacent communities.