By Simon Johnson
This is a summary of class #5 in Entrepreneurship without Borders, a course at MIT Sloan. For links to the course syllabus and summaries of earlier sessions, see this post.
Chile has experienced strong and relatively sustained economic growth in recent decades. The economy has also proved more resilient to outside shocks (including to the price of copper, the largest export) than many others. This is a case of good macroeconomic management, including by the central bank. But there remains the question of how to create enough jobs and increase income levels – including for people at the lower end of the income distribution.
Start-Up Chile is an innovative approach to changing the culture about new ventures (see these FAQS). By enticing would-be entrepreneurs with relatively small grants to spend at least 6-7 months in Chile, this initiative hopes to create role models and stronger connections between young Chilean people and global business opportunities. If the entrepreneurs move on – as many do – perhaps this just helps build Chile’s position in global networks. See this recent assessment, or the organization’s own 3 minute video pitch. Continue reading “Starting With Chile”