Comment by mituljain | Hacker News Reader

Comment by mituljain | Hacker News Reader

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hey, since you've been through the program and we recently got selected I had a few questions - that I hope you'd answer:

1) Can you stay on there longer after the 6 months? What are the permit restrictions etc?

2) How many people actually came there with little or no product ready and actually built up while in Chile itself?

3) What are the odds that people who fall under the category of 2) got funding there itself?

What I am trying to understand is - is this something more worthwhile for those who already have something running and are maybe already talking to investors? Or is it also an equally good opportunity for people who've been playing with an idea and will have maybe 60% ready by the time they get there - but have no other investment other than their own money ?

Thanks a lot!

(1) The visa is good for a year and you can extend as long as you're able to support yourself. (2) Every single person there was building something. (3) It's not a lottery -- if you want funding you have to be fundable, and decide to raise money instead of bootstrapping.

There is serious investment capital available. The point isn't that you're guaranteed to raise it. It's that if you can't get a higher valuation and better terms after six months of work and 40,000 in free outside investment then you probably don't have a company anyone will fund anyway.

As a current member of the program, I would argue that it is better suited for a company in idea-phase, where the founders likely still having a savings account available (for the two month money issue Ken describes).

and in that case what are the odds of actually finding investors during the program? (do they have serious investors visiting etc?)

We got serious inbound inquiries just from taking part.

thanks for the quick answers! can I contact you in any other way with more questions please?

absolutely -- contact info through profile. It's a brilliant program though -- if you've been accepted, by all means go. :)

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