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SALT LAKE CITY -- Utah is a breeding ground for entrepreneurs, as evidenced by the new, small companies that sprout up regularly. The key to getting going, though, is money. There's a new program out there that has the cash -- lots of it. But here's the deal: to start up your business in North America, you'll have to go to South America first.
Utahns Corey Wride and Kurt Avarell can tell you all about it.
By bringing people in from outside of Chile, they're introducing that culture of entrepreneurship and innovation to Santiago and bolstering the existing entrepreneur community in Santiago.
–Kurt Avarell
Wride started a company teaching people how to speak English, while Avarell developed software used to help people resolve tax disputes with the IRS.
Both entrepreneurs went to Santiago, Chile to start their companies.
"Chile really wants to be the innovation hub of South America," Avarell said.
The Chilean government has begun a pilot program called "Start-Up Chile." The goal is to give world-class, young business people an opportunity to get their companies off the ground. Each gets $40,000.
Wride and Avarell are part of the initial group of 25 entrepreneurs from around the world selected.
"By bringing people in from outside of Chile, they're introducing that culture of entrepreneurship and innovation to Santiago and bolstering the existing entrepreneur community in Santiago," Avarell said.
The $40,000 grants pay for airfare to Chile and help with living expenses and initial operation costs. But Avarell and Wride, who have been in Santiago for more than three months now, say the contacts they've made are the real key.
They hope that some of the businesses will stick around. They realize that they might not. But what they're going to get out of it anyway is that people will stay connected.
–Corey Wride
"I think the biggest benefit is probably the networking connections that you make," said Wride. "When I'm introduced to potential partners or investors, they love to hear that we're part of Start-Up Chile."
The program is open to all types of business ideas, and you don't have to speak Spanish to qualify. You have to agree to stay at least six months, but you don't have to keep your business in Chile once you've got it going.
"They hope that some of the businesses will stick around," said Wride. "They realize that they might not. But what they're going to get out of it anyway is that people will stay connected."
In other words, if there's future business to be done in South America, the hope is the companies will think about Chile first.
The Chilean government plans to provide grants to 300 people this year. They'll do it in three groups of 100. That's $12 million total.
The deadline to apply for the first group in next Tuesday.
E-mail: kmccord@ksl.com
