Sebastián Díaz steps down as Start-Up Chile’s Director, question is: why?

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Contxto – Start-Up (SUP) Chile, a major government-funded accelerator, raised a lot of eyebrows last week. The SUP’s overseeing body, the Corporation for the Promotion of Production or Corfo, announced its request that the accelerator’s Director, Sebastián Díaz, step down from his role as head of the organization.

While no details were provided as to the motives behind the decision, it apparently came as a surprise to Díaz himself.

“The specific reasons for which I’ve been asked to resign are unclear to me,” stated the former Director.

The announcement was made last Friday (13). However, Diaz was asked to step down as of March 5.

What up, Corfo?

For the Chilean ecosystem, the news was unexpected. As Díaz had been at the head of Start-Up Chile for nearly two years. The Executive Vice President of the Corfo, Pablo Terrazas, is said to have been the one who called for Díaz’s removal. And this is because there are reportedly upcoming changes in store for the SUP.

Meanwhile, the Corfo stated it will announce his replacement “soon.”

According to sources, a decision may be reached next Friday (March 20), when the Corfo’s Board of Directors adjourns. In the meantime, Ángela Romo from the Corfo, will be leading SUP.

What these plans might be and who will become the new director, Contxto intends to find out. We’ve reached out to Start-Up Chile for commentary, so we’ll keep you posted.

Whoever this new director might be, they will more than likely have a crucial role to play in the Corfo’s new plan for the accelerator.

5G? Yes please says Corfo

While we’re on the note of Chile’s Corfo, last Thursday (12) this institution, along with Chilean Telecom company WOM, headed the opening of a 5G innovation lab for startups. This is a first for the country’s ecosystem.

And judging from Corfo’s shoes, it appears the government sees 5G connectivity as a big bet for the future.

So it’s providing the space for startups to get creative.

Let’s sit tight and see what emerges.

Related articles: Tech and startups from Chile!

-ML