Nigeria’s Beavly, an online marketplace that connects people eager to learn new skills to small and medium sized businesses willing to provide workplace training for a fee, has been selected for the 16th generation of Start-Up Chile, a seed accelerator based in Santiago, Chile.
Beavly, alongside 93 startups from across the world, was selected for the program from the over 1,900 applications received.
Beavly – the only African startup selected for this generation – will receive $20 million (about US$33,000), a working visa for a year and access to the largest startup community in the world to accelerate in Chile.
The program commences on July 4, 2016. Beavly’s founders are expected in Chile that week to begin the orientation process and start their experience as Start-Up Chile entrepreneurs.
Also, Beavly must remain in the country for at least 6 months (the duration of the program) and help spread the innovation spirit through participating in social impact activities, sharing their experiences with the Chilean ecosystem.
If Beavly successfully completes the six months program, it’ll be eligible to apply to SCALE, Start-Up Chile’s new follow-on fund.
SCALE offers $60 million (approximately US$90,000) to startups that have significant traction, are generating revenue and needs extra capital to grow in Chile and expand to the rest of Latin America.
The 16th Generation will end with a Demo Day where the top three startups will be selected by a panel of judges.
This is not the first time Beavly, which seeks to disrupt the informal learning industry in Africa by building a large marketplace that facilitates skills acquisition in small scale industries, will compete in a Start-Up Chile program.
It was selected for the second Generation of The S Factory, a pre-acceleration program aimed at supporting first time female entrepreneurs in building high impact startups. At the end of the program, Beavly placed third.
It was infact Beavly’s participation in The S Factory that gave it a chance to apply to Start-Up Chile.
Two African startups – Vestracker (Ghana) and WinSenga/Cipher256 (Uganda) – are currently participating in the 15th generation of Start-Up Chile. It commenced on February 15, 2016.
Start-Up Chile was created by the Chilean Government with the sole objective of turning Chile into the innovation and entrepreneurship hub of Latin America by attracting the world’s brightest entrepreneurs to bootstrap their startups in Chile.
In 5 years, over 1,200 startups and 3,000 entrepreneurs from across the world have been part of Start-Up Chile, raising more than US$135 million and creating more than 1,400 jobs.