Behind the Andes in a secluded corner of South America, far from Silicon Valley or Asia’s business hubs, Chile’s startup revolution is drawing the eye of founders from far afield. Indian entrepreneurs are arriving on Chilean shores, attracted by its favorable business environment, technological expertise, and government support.
“Chile offers a variety of opportunities for Asian and other foreign startups at different stages of development,” said Gerardo Alonso Velasco Baratawidjaja, president of the Chile-ASEAN Chamber of Commerce. “Chile offers a stable, smaller market to pilot, test, and grow products and services, alongside a savvy and friendly business environment, and a competitive consumer landscape [where many have] disposable income.”
It has meant that all sorts of Indian startups, from data services firm Evalueserve to Toolyt, an AI-powered personal assistant, have established themselves in Chile in recent years. According to four Indian entrepreneurs who moved to Chile and spoke to Rest of World, the country is an ideal model market to test out products and ideas to bridge over into the more desirable U.S. market or to expand across Latin America.