Imagine Lab accelerator calling for startup applications to win $60 million pesos

Photo courtesy of Facebook, Imagine Labs

Chilean incubator and accelerator Imagine Lab is offering $120 million pesos (US$180,000) in two separate competitions aimed at tech-based early stage and scalable startups.

Imagine Lab forms part of the international Microsoft network, and this is the ninth competition to be held by the organisation. .

The early stage startups must have at least one prototype for their project, and if they win the competition they will receive $60 million pesos (US$90,000) and expert support to help them develop their idea.

For scalable startups, in order to access Imagine Lab there is a requirement that companies are already raising capital and looking to grow in new markets. To be able to receive the $60 million pesos assigned to this part of the competition, the startup must have a private co-financer for an equal or superior amount.

The startups that participate in the event will have access to a certified network of mentors, as well as corporation-startup connections, and softlanding programmes.

“We are looking for disruptive startups which are using new technologies to resolve problems in important markets,” said Javier Cueto, Imagine Lab’s general manager. “And those that have the potential to raise capital, along with initiatives that can have both an economic but also a social impact.”

Entry closes on February 3, and can be accessed via their webpage.