Latin American Governments Startup News

Chile ranked third-most entrepreneurial country in the world

LatAm List – Chile has been recognized in the recent issue of the Global Entrepreneurship Monitor (GEM) report as having the third-most early-stage entrepreneurial activity in the world.

According to studies from the Universidad del Desarrollo (UDD), the Chilean economy’s entrepreneurial activity has grown from 13% in 2008 to 25.1%, currently.

GEM Chile’s academic director, Maribel Guerrero, explains that the report has adopted a new criteria for classification based on income level (low, middle and high) which places Chile in the same group as other high-income countries such as United States and other European countries.

Specifically, Chile’s entrepreneurial ecosystem stands out for its innovation and its sharing economies.

“In particular, the motive behind a startup driven by opportunity (18.6%) vs. a startup driven by necessity (5.9%) had a positive variance of almost one percentage point with respect to the 2017-2018 edition”, says Guerrero.

However, Guerrero points out that Chile’s entrepreneurial ecosystem still has several issues that need to be addressed in order to continue improving. For instance, the country received its lowest scores in entrepreneurial education in school years and in the transfer of innovation and development.

Read more in El Mercurio.

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