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.
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.