Since I was not able to attend the January 25th session with Courtney Kingston to hear about her experience in the Santiago wine industry, I have researched the importance of technology in the Latin American business environment and the evolving role Chile has taken to become a “technology hub” for Latin America.
According to a TechCrunch article, Chile could “morph into the new land of opportunity for immigrants in general and export-centric tech entrepreneurs”, going into further detail on how it may be a better idea for U.S. immigrants who are having difficulty securing green card status to take a look into moving to Chile. The article suggests that Chile will “welcome you with open arms” and will offer such great incentives, California will look four steps down compared to what Chile has to offer.
Taking it a step further, a Stanford website dedicated to “technology trends in Latin American and their social and economic impact” took a deeper look into the incentives stated previously. These incentives include:
The Stanford article goes further to discuss “Start-Up Chile” and the incentives businesses and individuals could be offered to bring a business to Chile. This includes with an investment of $500,000 USD over 5 years a promise of a visa and permanent status, in addition to other great incentives.
The article also shared information regarding a published 2002 Department of Human Development of The World Bank article titled, “Chile-Science, Technology and Innovation”, stating strategies into what was working in Chile at the time and what should be improved to make Chile even better. Since Chile has taken the recommendations head-on and as the article states, “has done a tremendous job of finding solutions to these problems”. These World Bank recommendations included developing a venture capital market and promote innovative entrepreneurship, thus Start-Up Chile was born.
Looking into the next few months, it would be interesting to learn more about projects completed through Start Up Chile and businesses that have invested and moved to Chile since the World Bank recommendations in 2002. Further, since the Standford and TechCrunch article discussed Chile’s technological capabilities, it would be great to see some of these innovations when the group visits in March.
According to a TechCrunch article, Chile could “morph into the new land of opportunity for immigrants in general and export-centric tech entrepreneurs”, going into further detail on how it may be a better idea for U.S. immigrants who are having difficulty securing green card status to take a look into moving to Chile. The article suggests that Chile will “welcome you with open arms” and will offer such great incentives, California will look four steps down compared to what Chile has to offer.
Taking it a step further, a Stanford website dedicated to “technology trends in Latin American and their social and economic impact” took a deeper look into the incentives stated previously. These incentives include:
- Chile has one of the most dynamic economies, with not only the largest growth rate in Latin America, but one of the largest growth rates worldwide
- Chile is highly competitive, thus technology along with the economic infrastructure a perfect place for starting businesses
- Chile is globally integrated with more than 20 Trade Agreements in 57 countries
- Chile has low risk and a large amount of financial strengths
- Chile has a tax-friendly economy with one of the lowest world corporate tax rates at 17% and also has agreements with 22 countries that avoid double taxation
- Chile has high transparency and one of the lowest corruption rates in Latin America
- Chile has an outstanding quality of life and the best talent in Latin America (highly competitive HR resources)
- Chile has an impressive transport infrastructure and cutting edge telecommunications network
The Stanford article goes further to discuss “Start-Up Chile” and the incentives businesses and individuals could be offered to bring a business to Chile. This includes with an investment of $500,000 USD over 5 years a promise of a visa and permanent status, in addition to other great incentives.
The article also shared information regarding a published 2002 Department of Human Development of The World Bank article titled, “Chile-Science, Technology and Innovation”, stating strategies into what was working in Chile at the time and what should be improved to make Chile even better. Since Chile has taken the recommendations head-on and as the article states, “has done a tremendous job of finding solutions to these problems”. These World Bank recommendations included developing a venture capital market and promote innovative entrepreneurship, thus Start-Up Chile was born.
Looking into the next few months, it would be interesting to learn more about projects completed through Start Up Chile and businesses that have invested and moved to Chile since the World Bank recommendations in 2002. Further, since the Standford and TechCrunch article discussed Chile’s technological capabilities, it would be great to see some of these innovations when the group visits in March.
http://cs.stanford.edu/people/eroberts/cs201/projects/2010-11/TechnologyTrendsLatinAmerica/chile.html
http://techcrunch.com/2009/10/10/chile-wants-your-poor-your-huddled-masses-your-tech-entrepreneurs/
http://startupchile.org/
http://techcrunch.com/2009/10/10/chile-wants-your-poor-your-huddled-masses-your-tech-entrepreneurs/
http://startupchile.org/