Udd Ventures Launches 3rd Edition Of Potencia Startup Program To Boost Early Stage Ventures
This initiative offers a unique opportunity for these companies to seek investment and scale their operations and still haven’t received funding.
The 2024 edition of the program will see Corfo covering 75% of the costs, while the participating companies will contribute the remaining 25%. This follows the success of the 2022 and 2023 editions, which supported 90 enterprises, with 66% securing private capital, 47% hiring new staff, and 39% increasing their sales.
Eligibility criteria include not having received prior Corfo financing and operating in recurring industries or markets. Applicants must have a legal entity registered with Chile’s Internal Revenue Service (SII) and demonstrate commercial validation through sales, pilots, or customers.
A key highlight of the program is the “Demo Day” pitch round, where selected projects with high potential will present to investors from the “Red Ángeles UDD,” managed by UDD Ventures itself. This event offers a platform for startups to attract investment and scale their operations.
In a conversation with Entreprenerd, Ángel Morales, Executive Director of UDD Ventures, underscores the program’s validation and success over two years, inviting companies from all regions of Chile to leverage UDD Ventures’ extensive network of mentors, consultants, and over 12 years of business acceleration experience. Participant Barbra from Redarkia shared her positive experience with the program, highlighting the strategic and sales model clarity gained through advisory board sessions.
“Potencia Startup” stands as a testament to UDD Ventures’ commitment to fostering growth and collaboration within the Chilean entrepreneurial community, offering resources, expertise, and opportunities for startups to thrive.
