Well, after this visit, I was a bit melancholy because I really wish I knew how to speak Spanish. But regardless of the circumstances, Jon (Puerto Rican) was able to help me/team understand the students from the Inacap business school. I understand that it is extremely easy to create or register a business in Chile. However, sustaining and growing a startup is extremely difficult. Chilean students expressed that they needed to teach and introduce entrepreneurship early in their schooling. Entrepreneurship seems to be a relatively new idea that these students were previously not aware off.
Obtaining capital (money) for the startup's in difficult because Chile as a country has lack of venture capitalists who are interested in investing in startups. Also, there seems to be a lack of collaboration between the universities in Chile. Networking events between industry and business students are hard to come by. Chilean business students are asking for a bit more guidance and mentoring so that are more confident and can take greater risks.
I believe the increase in collaboration within universities will be quite beneficial for entrepreneurs. Universities are an ideal incubator and provide lots of resources that entrepreneurs can take advantage off to develop their ideas. The increase in collaboration with universities and student will help spur creativity. Also, universities should actively collaborate with the industry to help students get hands-on experience for improved networking. Last but not least, idea of entrepreneurship should be introduced early in schooling but, more importantly, Chile as a country need to start incubating such an environment which attracts organic startups and increase in private investments from angle or venture capitalists. Startup Chile seems to be the right path towards a hopeful bright future.