Endeavor Insight Examines the Growing Tech Ecosystem in Santiago

With the continued  support of FOMIN and and the J.P. Morgan Chase FoundationEndeavor Insight recently conducted a network mapping project of Santiago’s growing tech ecosystem. Drawing on a year’s worth of interviews and surveys with local entrepreneurs and influencers, the Insight research team was able to identify the drivers of growth within the sector and offer suggestions for its continued success.

In Santiago, Chile, a tech ecosystem is fast developing. With a wealth of government support programs such as Start-Up Chile, entrepreneurs from all over the world are now drawn to Santiago to found their tech firms. Once there, they have access to a large base of qualified, well-trained employees, many of whom have graduated with technical degrees from one of Chile’s universities.

One interesting conclusion of this research is that, while Start-Up Chile continues to offer funds and support to entrepreneurs who choose to start businesses in the country, the program’s primary virtue lies in raising the profile of Chilean entrepreneurship. It is vital that young people see entrepreneurship as a viable and rewarding career path. To this end, the efforts of Chilean support programs to highlight entrepreneurship are indispensable.

These efforts are also important when it comes to spurring angel investment, which continues to lag behind in Santiago even as other types of inter-entrepreneur relationships—like serial entrepreneurship, mentorship, inspiration and former employee spinouts—continue to grow. This “smart capital” is important for the success of a tech ecosystem: an earlier Insight study in New York City found that angel investment from a successful entrepreneurs vastly improves a company’s chances of success. Top-performing entrepreneurs in Santiago must be encouraged to reinvest their success in the sector, offering not only advice but also financial capital.

Visit the project website to view the full multiplier effect maps at www.santiagotechmap.com and read the report by clicking below. 

Santiago Tech Map

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