Know Hub Chile opens applications for a program that strengthens startups with support from leading mentors

KNOW HUB CHILE OPENS APPLICATIONS FOR A PROGRAM THAT STRENGTHENS STARTUPS WITH SUPPORT FROM LEADING MENTORS

Know Hub Ignition, developed by Know Hub Chile in collaboration with the University of California, Riverside, focuses on the value proposition and customer segment of science- and technology-based ventures, accelerating their early growth.

Scientific and technological advances drive economic performance. The ability to create, distribute and exploit knowledge is a competitive advantage that creates wealth and improves quality of life.

Science-based startups (EBCTs) make that progress possible. To do so, they need support from the very start to strengthen their capabilities. That is the task Know Hub Chile, in collaboration with UC Riverside in the United States, took on in 2019 with Know Hub Ignition, its maturation program for science startups.

This initiative helps EBCTs move toward consolidation. It also strengthens their capabilities through the support of national and international mentors, focusing on the value proposition and customer segment to accelerate their growth.

After two successful calls in 2019 and 2020, it returns in 2023 with two categories: the first open to all kinds of science- and technology-based ventures, and the second focused on three important current topics: cybersecurity, circular economy in agribusiness, and climate change. Applications are open until May 21.

I-Corps-based training

The call is aimed at national or international entrepreneurs, researchers, and undergraduate and graduate students from Chilean and foreign universities who have research results with some degree of intellectual property and the potential to create technology businesses. In addition, at least 50% of the spots will go to proposals led by women.

As in previous calls, in 2023 three winning teams will be able to access the UC Riverside innovation ecosystem for one week.

The program stands out for implementing a methodology that identifies technologies with high transfer potential and guides teams to bring those initiatives to market, through early validation processes with industry and the venture capital ecosystem.

Javier Ramírez, executive director of Know Hub Chile, explains that, in parallel, the team works with the ventures on all the elements related to the technology (protection strategy and business model), “and on the legal aspects related to creating companies that are able to operate properly in the market and/or are ready to raise investment”.

Know Hub Ignition includes immersion in the I-Corps methodology, created by the National Science Foundation in the United States, to discover and consolidate the startup’s business model by focusing on its value proposition and customer segment, validating it early with industry thanks to the support of UC Riverside mentors.

It also includes support from leading mentors from the national innovation and entrepreneurship ecosystem, plus guidance from the Know Hub Chile team on topics such as business models, commercial prospecting, technology commercialization, intellectual property strategy, marketing and roadmap design, among others.

The Know Hub Ignition experience

The first edition received 53 applications and 11 teams were selected to take part. After completing the I-Corps-based training and company set-up, most of them changed their business model (73%), value proposition (82%), intellectual property strategy (64%), corporate and tax structure (64%) and team composition (64%). In March 2020, the second call was launched with 54 entrepreneurs organized into 14 teams.

In 2020, Photio was one of the winning EBCTs. Using nanotechnology, they developed an additive that can be used in different materials and purifies the air. After the program, Photio received multiple awards, such as best Chilean EBCT at the 6th Technology Transfer Awards, granted by the Ministry of Science, Corfo and the Red de Gestores Tecnológicos de Chile.

In 2023, the company teamed up with angel investor and soccer player Guillermo Maripán, who invested USD 600,000 to strengthen the startup’s research and development area.

Silvana Herrera, CEO of Mov Design, a Know Hub Ignition 2021 winning team and an EBCT dedicated to devices for independent mobility for people with visual impairments, says the program gave them the tools to understand the entrepreneurship ecosystem from the university in order to reach a minimum viable product.

Elementum, one of the Know Hub Ignition 2020 winning teams, also highlights that they gained many tools to strengthen their business model and value proposition thanks to the program.