Corfo is the Chilean economic development agency that works daily to improve the competitiveness and the productive diversification of the country by encouraging investment, innovation and entrepreneurship.
Corfo also foster the development of advanced human capital and technological capabilities to achieve a sustainable and territorially balanced economic growth.
Corfo has a variety of programs as guarantees and grants, for domestic and foreign companies that operate in Chile. These programs can be helpful for entrepreneurs, to innovate, to improve the productivity of a business or to invest.
Chile is promoting a green hydrogen industry and the development of an ecosystem by achieving industrial production. This will include demanding fuel agents, investors, technology developers, electricity suppliers, producers and regulators. All of them coordinated and aligned in the promotion of this effort.
Corfo opened, on April 20th 2021, a call for up to 50 million dollars to national and foreign companies to finance and leverage green hydrogen projects in Chile to solve some gaps and strengthen this new economic sector for the country. The contribution will co-finance a maximum of 30 million dollars per project and will be delivered for the development of new green hydrogen plants in Chile.
Opening date: April 2020
Deadline date: September 6th 2021
As part of the sustainable economic recovery, Chile's Economic Development Agency (Corfo) is working on developing the green hydrogen industry and its derivatives to facilitate the energy transformation of both the transportation and industrial sectors, while opening a new exporting market that contributes to the reduction of greenhouse gas emissions at the domestic and global levels.
Corfo, Ministry of Energy, and Ministry of National Assets are facilitating an open, participatory, and transparent process to obtain information and identify public land of interest for companies and consortia to submit proposals for sustainable productive development based on the production, transportation, storage, and use of green hydrogen and/or its derivatives.
The first stage of this participatory process is focused on gathering expressions of interest from the market and the industry to implement large and medium-scale industrial projects in Chile, which will be carried out through this request for information process (RFI).
Support the creation and installation of a Technological Institute that develops research and development activities, transfer of technology and innovation, specialized technological and technical assistance, technological diffusion or generation of research and information to support regulation and public policies, in the areas of solar energy, sustainable mining and advanced materials of lithium and other minerals.
Entity of research and technological development, public or private, representatives of universities and/or Government.
The maximum basal funds that you will be able to access is a maximum accumulated amount of USD 193,485,024, during a period from 2018 to the year 2030 (hereinafter the "R&D contribution").
The financing structure must contemplate a "Co-financing Proposal", with a minimum average of 30% of private co-financing, for each of the stages.
CORFO is looking for one or more, domestic or international companies that have proven experience, technical and financial capacities in these investment and manufacture fields. These companies may have these capacities by themselves, or in association with others through consortiums, joint ventures or any other type of association. The selected companies will have access to a long-time lithium raw material supply from SQM Salar S.A. at preferential prices.
It supports the implementation of technological investment projects, whether they are new projects or at an expansion stage.
It supports the implementation of pre-investment studies to encourage and accelerate the decision-making process aimed to invest in new projects or to expand the company’s current capacities.
It funds up to 70% of the pre-investment studies cost, with a maximum of USD 250,000 for USD 2 million investment projects or higher.
This program is intended to improve the access and funding conditions for companies developing an investment project, through guarantees granted to the ﬁnancial lending institutions. aaIt guarantees up to 80% of the funds needed with a maximum of USD 4 million.
This tax incentive, allows a reduction in the Income Tax of 35% of the investment in R&D, by tax credit. With a maximum of USD 1.2 million. It also allows to consider the remaining 65% of R&D investment, as required expenses to deduct Income Tax.
This tax beneﬁt is complementary to other Corfo´s programs and subsidies.
Start-Up Chile is a public business accelerator program created by the Chilean Government for high-potential entrepreneurs to bootstrap their startups using Chile as a platform to go global. Up until today, its one of the biggest and most diverse accelerators in the world. Start-Up Chile has a large portfolio, receiving up to 180 startups per year. This deal flow is represented by 2 distinct programs based on the stage of the startup:
The S Factory: Pre-acceleration program for startups in early concept stage lead by female founders. Selected companies receive $10 Million Chilean Pesos (USD $16k approx.) equity free plus a 4-month pre-acceleration program and the possibility to receive a $5 Million CLP extension. Two rounds a year of 25-33 companies each.
Seed: 7-9 month acceleration program for startups with at least a functional product or service. From G20 on, selected companies receive $25 Million Chilean Pesos (USD $42k approx.) equity free, a 7 month acceleration program and the possibility to receive a $25 Million CLP extension. Two rounds a year of approximetly 80 companies each.
For companies that aims to develop innovation businesses collaborating with others (universities, technological centers). 12.000 USD nonrefundable grant up to 80% of the total project cost (depending on the company size). National or regional impact expected
For companies that aims to develop tech innovation from prototype to commercial validation. Depending on the type of projects it should have R&D component (with internal or external capacities) or not. 180.000USD nonrefundable grant, up to 70% of the total project cost (depending on the company size). At least national impact expected
For companies that aims to develop tech innovation (with R&D components) from prototype to commercial validation. 500.000USD nonrefundable grant, up to 50% of the total project cost (depending on the company size). Global impact expected.
For companies that aims to scale (nationally and internationally) their technological innovation. 125.000 USD nonrefundable grant, up to 50% of the total project cost (depending on the company size). Global impact expected.