Magical Startups is a business accelerator that seeks digital-technological startups with a global vision that are prepared for a consolidation of their business model and sales growth.
What are we looking for?
- Scalable and innovating businesses;
- With a digital or technological component;
- With a high potential for internationalization;
- With differentiating components;
- Targeting mainly the B2B market;
- Multi-Industries: Mining, Agro, Logistics, Environmental, Information Technology, Communications, Management Tools, Advertising, Tourism;
- Teams with a high level of complementarity and pertinent experience;
- Highly dedicated teams.
In order to be eligible for financing by the CORFO SSAF fund, the startup must also meet the following criteria:
- In case activities were started as a company at the SII (Internal Revenue Service), the company cannot be more than 3 years old.
- In case the company already exists and has sales, the sales accumulated over the last 6 months prior to the application date cannot exceed CLP $100,000,000.
- The founding senior partner(s) cannot also be senior partners of another company with a related line of business.
Process for Compatible Startups
- Online Application. Our online form enables a quick assessment of the business proposal.
- Exploratory face-to-face meeting at Magical Startups in order to delve into the potential of the business and our ability to add value.
- Presentation to the board, where the startup’s entry to the selection process is accepted or rejected.
- Final presentation to the CORFO Entrepreneurship Committee. This approval enables financing from CORFO’s SSAF (Flexible Allocation Seed Grant) fund.
b) Strategic Consulting
c) Network of Mentors and Experts
d) Network of Large Companies
a) Financing. Acting as administrators of CORFO’s SSAF fund, we provide financing from this source up to a maximum of CLP $60,000,000 per company.
b) Strategic Consulting. Focusing on the optimization of the business model, the product/service and operational excellence, the startups meet with the technical/financial area of Magical Startups in order to develop the strategy to be executed, always following the concepts of Lean Startup.
c) Network of Mentors and Experts. We find the appropriate mentor to support the company’s growth. This mentor’s main characteristic is their vast expertise and knowledge of business development and networking in the specific target industry. The mentor contributes value through their strategic vision and positioning in different markets.
Additionally, Magical Startups has a series of experts in various areas, such as: Sales, Press and Communications, Advertising, Digital Marketing, User Experience, Patenting and Legal Processes. They provide consulting sessions to each startup, providing support and shortening the process of making specific decisions associated with their expertise. Each expert is well-known in their field. For this reason, Magical Startups holds monthly meetings with them, which are always focused on concrete problems.
d) Network of Large Companies. You will have access to commercial openings and accelerated sales escalation through our red of allied companies and their captive markets. Innspiral, Binnario and Club de Innovación, main allies of Magical Startups, are a bridge to many leading companies at a local le) Connection to additional sources of financing. Magical Startups provides access to a network of investment funds and angel investor groups as a way to enable exponential sales growth and the conquering of new markets. Throughout the capital raising process, we technically and strategically support our teams, always safeguarding the interests of the entrepreneur and making sure that the counterparts are smart-money providers and not merely funding partners.
The local market might not be large, but it can validate business models effectively and provide relevant clients and alliances worldwide. In this sense, Magical Startups operates as a “curator”, as we not only find but also prepare and promote the startups so they can be the best candidates for funding and achieve internationalization.
The final goal. We strive to help you reach your highest potential. For this purpose, we take you to the next step in your evolution. We help you stop being a startup by connecting you with the investments you need for this growth.