Monday 14 March 2016

The S Factory, Generation 3 (Powered by Start-Up Chile)

The S Factory is a spin-off program of Start-Up Chile and is accepting applications for its 3rd Generation.

The program assigns a CLP$10,000,000 (USD$14,000) grant per startup, a 1-year resident visa for the team members specified in the application, as well as a nice and comfortable workspace (desk & wifi) that is shared with entrepreneurs from around the world. 

Networking, inspiration, and productive experience to get ideas off the ground.

March 15, 2016 (Tomorrow!)

The program is for females only.

Female founders that already have their startup in a more advanced stage are advised to apply to Start-Up Chile instead since they might be overqualified for The S Factory. 

This is a program built for startups in really early stages, in concept stage or with a prototype that has less than 6 months of development.

Participants (weight: 50%)
Composition, qualification and experience of the team (30%): quality of the talent, background, experience, achievements. 
Competency and leadership of the founder (20%): towards decision making, communities that is/has been part of and what is/has been her role in it, networks, how the team was built. 

Project (weight: 50%)
Market and competitive position (weight: 20%): potential of target market to address, size of the market, concept validation, future competitors and growth opportunities. 
Product or service (weight: 30%): vision and global impact potential, atractiveness for future funding opportunities, relevance of the problem to the target market. 

Judges will score each criteria on a scale of 1 to 5.

The S Factory is looking for globally-minded female enthusiasts that want to start their entrepreneurial life. They want to inspire and attract soon to become entrepreneurs who want to start their businesses using Chile as a platform. Your startup idea or prototype should be globally-oriented and scalable. It is crucial that the founder of each project participating in the program is willing to live in Chile for at least 3 months, plus one month due to legal procedures. Take this into consideration when you plan your travel ahead.

A founding team cannot apply to fund more than one startup per application round. No team is allowed to receive funding for two startups at the same time, this also is valid for other lines of seed capital offered by the Chilean government through Corfo. The programme expectation is for total dedication to the startup throughout the 12 week duration of the program, something that is not feasible while working on two separate startups.

Application results for Generation 3 are going to be published on the second week of May. If your application was reviewed but wasn't selected, you'll receive an email with the results and the points that didn´t meet the criteria or were not evaluated as good as the others. If you are accepted as a participant, you'll get an email with further steps to follow. 


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