The March 2015 issue of Inc. Magazine named Santiago de Chile one of the top five emerging Startup hubs for opportunities to launch or expand internationally. According to Inc. Magazine, one of the top draws to Santiago, a city of 6.3 million inhabitants, is Start-up Chile, the government-sponsored incubator program that attracts top international talent with a one-year visa, free workspace, and $33,000 in seed money that does not have to be repaid. Over 16,000 applicants applied to the program, and 1,000 companies from 75 countries have been selected to date. According to its website, Start-up Chile’s goal is “to hasten the occurrence of customer-validated and scalable companies that will leave a lasting impact on the Latin American ecosystem”.
According to the article, Santiago “is regarded as one of the best spots in South America to do business” due to its “California climate and none of the megacity dysfunctions of places like Sao Paulo.” Because its economy was built on mining and maritime commerce, it lacked a tech-Startup scene. As a result, Start-up Chile’s founders realized that, to change the culture, says Vivek Wadhwa (a fellow at Stanford Law School and adviser to Start-up Chile), “you need to bring foreigners in.” According to Wadhwa, “US companies don’t realize that they can test their technology locally and expand from there.” Companies looking to expand abroad or test their products in emerging markets should take note: the ten largest cities in Latin America, including Santiago, make up nearly a third of the region’s GDP. Santiago joins four other cities on Inc. Magazine’s list:
- Talinn, Estonia- The tiny European home to Skype allows entrepreneurs to relocate their company to this tech-savvy location without leaving home with the word’s first “e-residencies.”
- Istanbul, Turkey- A cosmopolitan and diverse city where markets meet at the crossroads of three continents.
- Dubai, United Arab Emirates- Companies can reach the fastest growing markets in the world via this desert metropolis.
- Shenzen China- Incubators in this city of 10.6 million people can help entrepreneurs quickly get their hardware from prototype to product.
Click here to read the full article. ABOUT THE AUTHOR Jennifer A. Grady, Esq. founded The Grady Firm, P.C. with a passion for helping entrepreneurs and their families achieve the American Dream of freedom, opportunity, self-sufficiency, and success. As a truly global practice, The Grady Firm attorneys act as the liaison for foreign companies that wish to expand to the United States by providing the business, immigration, employment, and cultural counseling they need to be successful in a new market. To schedule a complimentary 15-minute consultation with The Grady Firm’s business and immigration attorneys, call (323) 450-9010, or fill out a Contact Request Form.