UDD Ventures Unveils Third Edition of ‘Potencia Startup’ Program, Elevating Early-Stage Venture

This funding initiative is a distinct opportunity for companies that are in need of financial support to attract investments, enabling them to expand their operations and grow their business.

The 2024 edition of the program signifies a substantial commitment by Corfo, with the organization planning to cover 75% of the costs involved. This financial backing is designed to provide a significant boost to the participating companies, allowing them to scale their operations and seek investment opportunities.

Building on the success of previous editions, particularly in 2022 and 2023, where the program supported 90 enterprises, the increased coverage aims to replicate positive outcomes. In those editions, the majority of supported companies attracted private capital, expanded their workforce, and reported increased sales, showcasing the program’s effectiveness in fostering growth and development.

The program’s eligibility criteria emphasize Corfo’s commitment to supporting innovative and viable businesses. Companies seeking to participate must not have received prior financing from Corfo, showcasing the program’s focus on new and emerging ventures. The requirement to operate in recurring industries or markets underscores Corfo’s interest in sustaining businesses with long-term viability.

Moreover, having a registered legal entity with Chile’s Internal Revenue Service (SII) ensures that participating companies comply with regulatory standards. The emphasis on demonstrating commercial validation through sales, pilots, or customers reflects Corfo’s dedication to backing enterprises with tangible market impact and growth potential. This rigorous approach aims to foster a cohort of successful and sustainable businesses.

A notable feature of the program is the “Demo Day” pitch round, providing a valuable opportunity for selected projects to showcase their high potential to investors associated with the “Red Ángeles UDD,” managed by UDD Ventures. This platform creates a dynamic environment where startups can present their innovative ideas, business models, and growth strategies to potential investors.

The goal is to attract investment that will not only fuel their operations but also facilitate scaling, contributing to the overall success and sustainability of the participating startups. “Demo Day” serves as a pivotal moment for these companies to make a compelling case for their vision and secure the support needed for their future development.

Ángel Morales, Executive Director of UDD Ventures, emphasized the program’s validation and success spanning two years in a discussion with Entreprenerd. He extended an invitation to companies from all regions of Chile to take advantage of UDD Ventures’ extensive network of mentors and consultants, drawing on more than 12 years of experience in accelerating businesses. The program serves as a platform for startups to benefit not only from financial support but also from the wealth of knowledge and guidance provided by seasoned professionals within the UDD Ventures network, enhancing the overall potential for success and growth.

Barbra from Redarkia expressed a positive outlook on her participation in the program, emphasizing the valuable insights gained in strategic and sales model clarity through advisory board sessions. This highlights the program’s effectiveness in providing practical guidance and mentorship to participants, contributing to their overall business development and strategic planning.

“Potencia Startup” by UDD Ventures exemplifies a commitment to catalyzing growth within the Chilean entrepreneurial landscape. This initiative goes beyond mere support, offering startups crucial resources, expert guidance, and valuable opportunities. It creates an ecosystem where innovative ventures not only survive but thrive, contributing to the dynamic and evolving entrepreneurial spirit in Chile.