Chilean Government Innovation Agency

1. Innovation in Chile:
A National Priority
Gloria Maldonado

2. Chile has seen outstanding growth
and stability during the past two
decades.
Today’s challenge is to continue the
forward movement so that Chile can
reach greater levels of technological
sophistication and development to
contribute to the country's
consolidation of its IT, electronics,
mining, aquaculture, forestry, and
food industries.
Chile has set the stage for
development and innovation in Latin
America.

3. High Competitiveness
Ranking
Country
2010-2011
Ranking of
Switzerland 1
Competitiveness Sweden 2
2010-2011 Singapore 3
United States 4
30th place among 132 Germany 5
countries around the UK 12
world China 27
Chile 30
Chile has the most Estonia 33
competitive economy in Czech Republic 36
Latin America Thailand 38
Poland 39
Spain 42
Portugal 46
Nº 1
Italy 48
LATAM
India 51
Panama 53
Brazil 58
Source: World Economic Forum (www.weforum.org)

4. Free Trade Agreements
Market of 4.2 billion
Chile has 21 agreements with 58 countries
MERCOSUR European Union China U.S.A. Peru
Bolivia Venezuela Australia Colombia Japan Turkey
Cuba India Canada Korea Mexico
Ecuador P-4 Central America EFTA Panama
Represents 63% of
world population
(2010) Agreements Signed
Agreements Negotiated
Agreements under Negotiation
P4: Chile, New Zealand, Singapore, Brunei
EFTA: Iceland, Norway, Switzerland, Liechtenstein

5. Main Goal of the Chilean Government:
A developed economy by the end of the decade
With a growth of 6% per year, Chile will reach a GDP per capita of US$
23,000 in 2020, similar to those already classified as developed countries.
GDP per capita 2010
PIB per capita 2010 48
(Miles de dólares, paridad de poder de compra)
(USD PPP Thousands)
39 40
35 35
33 34
29 29 29 30
27
25
22 22 23
18 19 19
16
14 14 14 15 15
12
10 11
9
7
Source: IMF

6. To transform Chile into an innovation and
entrepreneurial hub for Latin American
To achieve this Goal
- Bring new and innovative
ideas to market
- Create a culture for
innovation and
entrepreneurship

7. Informe
de Gestión
CORFO
15 Junio 2011
InnovaChile of CORFO
InnovaChile
of CORFO
Gobierno de Chile | Corporación de Fomento de la Producción – CORFO 7

8. CORFO
The Chilean Economic Development Agency, CORFO was
created in 1939.
Its main purpose is to help increase the competitiveness of the Chilean
economy and companies (especially SME’s):
• Improving access to long term financial resources and their managerial
capabilities, and
• Supporting technological innovation, through InnovaChile
• Promoting foreign investment and strategic alliances.

9. What do we look for?
Improve the country’s productivity
Increase the economy’s growth rate

10. President
National Innovation
Council
Chilean
Government
Ministry Of Economy Ministry Of Education Others*
Corfo Conicyt
InnovaChile Fondef Fondecyt
Companies Individuals Technological Institutes Universities
* Others: FIA, Millennium Program

11. InnovaChile
• Public Agency in charge of applying Chilean Innovation Policies to
increase competitiveness
• Operates as a matching fund, providing grants to companies and
technological centers who submit projects (demand driven)
• Nearly 55% of the total cost of projects is financed by private
companies
• The level of public financing provided by InnovaChile depends on:
• Risk level
• Innovation potential
• Economic potential and externalities
• Degree of collaborative effort

12. InnovaChile
CLIENTS:
 Companies - Entrepreneurs
 Technological Institutes
 Universities
SERVICES:
 Grants (shared costs, risk)
 Expert technological assistance
 Innovation support networks

13. Main Areas of InnovaChile
Technical
Technology Corporate Innovative and Business
Entrepreneurship Advisory
Transfer Innovation Ecosystem
Services

14. Some 2011 figures
167.099 US$2.644
Million
Direct beneficiaries. 682 per day! Mobilized during 2011.
US$332 million with public funding,
and US$2.311 million leveraged.
Of the mobilized
91% Of beneficiaries
are SMEs
89% funds destined
to SMEs

15. Main Achievements
Main Achievements
• From 2001 to date, through Private Public alliances,
Chile has supported:
14 Genomics-related Programs (US$66 millions, 56%
public):
Fruits, Biomining, Forestry, Salmon, Wine, Rainbow Trout
17 Technological Consortiums (US$132 millions, 45%
public):
Forestry, Vineyards, wine, Fruits, Milk, Cancer , Chemistry of
natural products, Salmon Biotechnology, Animal Health,
Biomedicine, Aquaculture, Sheep, Potatoes, Honey, Lignocellulose’
Biofuels
15

16. Main Achievements
• Since 2005, InnovaChile has
subsidized:
3,100 innovation projects, benefiting 9,500
Companies
The creation of over 400 companies
through seed capital
The launching of 24 R&D Centers and 110
Technology Transfer Nodes through out
the Country
19 incubators through out the country
26 International Market Prospection
Programs for exporting companies
10 Business Platforms for new markets
in Asia, Europe and the US
16

17. InnovaChile’s
Support for
international
initiatives

18. • An accelerator program created by the Chilean government that seeks
to attract 1,000 high-potential global startups, to bootstrap their
startup using Chile as a platform to go global.
• Its goal is to foster the interaction between Chilean and global
entrepreneurs to strengthen the relationship between Chile and other
innovation hubs around the world.
18

19. Attraction of
International Centers of Excellence
• Designed to facilitate the installation of
International Centers of Excellence in Chile.
– To create and maintain new capacities and
infrastructure in science and technology areas that
have an impact on Chilean main economic sectors
– Focused in generating results, new knowledge and
technological breakthroughs
– Establishing and promoting the development of local
skills, through alliances with Chilean entities,
technological and scientific research centers.

20. Global Connection Program
Seeks to support Chilean
entrepreneurs to kick off their
startups in a global environment
helping them to accelerate their
business in a world‐class
incubator/accelerator.
Oriented to place Chilean
startups in different market
environments around the world,
providing them with the proper
platform and support to globalize
their business.

21. Applied R&D Program
• Oriented to promote the collaboration
between Chilean and foreign R&D centers, to
make business and technological prospection
in order to formulate associative projects of
Innovation R&D
• Relevant for countries that have signed
International Science and Technology
Collaboration Agreements with Chile
• Finances aspects such as:
- Technological prospection
- International associate prospection
- Technological missions
- Internships
- Market and legal Studies
- Formulation of joint Innovation R&D projects
- International Assistance

22. Thanks!
www.corfo.cl
Gobierno de Chile | Corporación de Fomento de la Producción – CORFO