Does Chile have the money to invest in technology innovation? Close to $300 million has been slated for investment by the government's development agency, says Juan Andrés Fontaine, Chile's Minister of Economy, Development and Tourism. Fontaine states Chile is waiting for the correct opportunities to arise, adding, "Money always follows good ideas."

Juan Andrés Fontaine, Chile's Minister of Economy, Development and Tourism, discusses his country's current policy mandate to bring innovation and business development to Chile's economy. By thinking of Chile as a startup on the rise, he sees a way to change Chile through innovation, rather than revolution.

Despite Chile having many scientists and entrepreneurs, Economic Minister Fontaine claims his nation currently needs greater interconnection between these professional groups. Learning from the Silicon Valley business environment, Fontaine hopes Chile can foster the development of these ties between science and business by offering scholarships and funding for research and development, and by engaging Chilean entrepreneurs, global technology firms, and learning centers of excellence.

Juan Andrés Fontaine, Chile's Minister of Economy, Development and Tourism, discusses mirroring the diversity of ideas and workforce that exists in Silicon Valley. Along with Chile's plans to attract investment and make reforms to the nation's work visa and immigration policies, Minister Fontaine also articulates a number of incentives Chile offers to emerging businesses. These incentives include low operating costs, open trade, and a well-established trade relationship with Asia.

Chilean science professors are not used to thinking in terms of startups, says Juan Andr�s Fontaine, Chile's Minister of Economy, Development and Tourism. However, through partnerships with Stanford University and other organizations, business development education is growing in Chile's universities. Minister Fontaine expresses the desire for students to take risks and learn to solve problems using an entrepreneurial frame of mind.

Economic Minister Fontaine points out that to reach Chile's economic goals, the nation must strive toward true innovation and entrepreneurship. By doing so, Chile aims to become the innovation hub of South America, along with building connections to Silicon Valley and other technology centers across the globe. Minister Fontaine sees many parallels between Chile and California, and his nation seeks to replicate much of California's success by inviting a critical mass of aspiring entrepreneurs to set up shop on Chilean soil.

Economic Minister Fontaine outlines details of Chile's grant-making and business magnet program, Start-Up Chile. The program offers a $40,000 grant to entrepreneurs bringing early-stage businesses to the country for a minimum of six months. Grant winners must interact with the Chilean people and maintain ties with the country, even if the company relocates to foreign soil. Fontaine explains this is a pilot program which the government hopes will help to spark a culture of innovation.