Imagine Group has launched a new program designed to fund startups, adopting a “thematic fund” or niche approach. This program, named Imagine Waves, aims to revitalize specific sectors in Chile by accelerating and supporting enterprises that offer solutions with significant impact.
The main focus of Imagine Waves is to collaborate in the ecosystem of each company actively, and to achieve this, it has established a network of contacts and relevant partners that will facilitate the dissemination, selection, and collaboration with key players in each industry to accelerate the growth of startups that are taking their first practical steps.
Max Johansson, director of Imagine Waves, emphasizes that this program will complement the existing initiatives of Imagine Ventures and will focus on generating an intensive and concentrated impact on specific industries. At its onset, Imagine Waves will focus on the aquaculture industry, in which Chile is a global leader and has a great opportunity to incorporate technology and innovation in processes.
This type of fund for seed-stage startups is of great value given the current scenario these types of companies face. This is because, with the decrease in the flow of venture capital worldwide due to the generalized increase in interest rates, several regions have experienced adverse effects. According to a report by McKinsey consultancy, in Latin America, there has been a venture capital deficit for startups reaching USD $2,500, and 66% of this figure corresponds to startups in early stages.
The first wave of Imagine Waves
On the 5th of October, the first DemoDay in Puerto Varas will be held, an event that marks the beginning of the first generation of the Imagine Waves program. At this event, the participation of angel investors from the region, investment funds, and prominent industry leaders is expected.
Imagine Waves initially aims to provide funding of USD $50,000 in addition to offering an acceleration program and opportunities to establish ties with the industry, aimed explicitly at five startups in their early stages of development. The investment committee of Imagine will make the selection of the latter.
Startups that are chosen to be part of this program will begin their intensive four-month acceleration phase this October. The program will offer a collaborative and supportive environment designed to facilitate interaction with experts, industry leaders, and other entrepreneurs and provide access to essential resources and tools that will drive their growth and development.