The Accelerator is already in its 6th batch and has announced the new 105 companies selected. The number of applications being received has been growing exponentially untill now. Batch 5 received 1509 applications from which a massive 101 were chosen. The number of companies chosen for Batch 6 has increased to 105 but the applications have gone down to 1400. Not a significant decline but this might suggest the stagnation point for applications.
The new batch has 7% Indian companies (8 of 105) and is a country that has a fairly high representation. Chile used to have maximum representation but that has gone down now with USA having 24% of the companies. Chile has 19% and Argentina has 9%. Talking about the sectors of these companies, eCommerce is the clear leader with 24% companies in the space.
Floost: Floost is a content discovery platform that helps users build a community around interests.
HealthAssist: New Delhi based HA is a online/mobile platform for HR mangers that gamifies health and wellness for Corporate employee and rewards them for for staying fit.
SkyBulls: SkyBulls is a simulated multi-exchange stock market trading platform for people who want to educate and train themselves and test their strategies in a real trading environment before directly investing in the market.
CrispyGames: Crispy Games is a technology driven mobile gaming company. They specialize in building multiplayer social games.
(More will be added to the list)
Startup Chile has been selecting startups on a voluminous scale and has been able to create a global buzz. The alumni companies will now be at a stage of scrutiny and will be asked a few questions. Nathan Lustig, the founder of Entrustet which was the first company from Startup Chile to get acquired did his own research and gave a few stats that come from the first batch of 22 companies:
- 6 companies (27%) have at least cofounder living full time in Chile.
- 10 companies (45%) have significant businesses still running in Chile.
- 7 startups (32%) have raised a total of US$4,020,000 from VCs and angels
- 16 startups (73%) are still bootstrapping full time, of which 5 (23%) are profitable.
- Taken together 12 startups (55%) are either profitable or have raised significant money.
- 2 startups (9%) are being run part time
- 3 startups (14%) failed
- 1 startup (5%) was acquired
- Founders from 14 companies (64%) have returned to chile at least once or continue to live here
- 19 companies (86%) still have business relationships in Chile
- At least 16 jobs were created in Chile
Read Nathan's post here and stay tuned for more updates from Startup Chile.
(edited by Jubin Mehta)