UC Chile Leads the Way in Supporting Startups to Reach the ScaleX Venture Exchange
UC Chile will boost small and medium-sized technology-based companies thanks to an agreement with the Santiago Stock Exchange and Corfo. As a sponsor, the University will support and facilitate the access of startups and scaleups to the alternative market of the Santiago Stock Exchange' ScaleX.
The objective of the ScaleX Venture Exchange is to promote startups or emerging companies focused on innovation and scaleups, those that already have a mature product or service and a rapid growth, that require raising capital and are seeking to enter the Santiago Stock Exchange.
Its purpose is to strengthen the value proposition and services of ventures with sustained growth over time, providing the opportunity to boost not only their capital raising processes but also the possibility to make a concrete impact in the national and global market.
The initiative is the result of a partnership between the Santiago Stock Exchange, Corfo, and the sponsorship of UC Chile, through the UC Anacleto Angelini Innovation Center. This unprecedented agreement made the university the first higher education institution to participate in the initiative.
As explained by Pedro Bouchon, Vice President for Research, the initiative not only focuses on diversifying but also on strengthening the range of services and support for startups and scaleups. “Through ScaleX, we aim to add economic, environmental, and social value to the country and the world by empowering technology-based startups in their capital raising processes.” "We are grateful for the opportunity provided by the Santiago Stock Exchange and Corfo, who have made this financing platform available to support and facilitate the access of startups and scaleups to the Santiago Stock Exchange's alternative market, ScaleX. This strengthens the development, consolidation, and commercial expansion of our country."
A Boost for Small and Medium-Sized Companies
The initiative consists of supporting and facilitating the access of startups and scaleups to the Santiago Stock Exchange’s alternative market, ScaleX, thus increasing the number of high growth potential companies available to investors. This is no small challenge, especially if it focuses on the development, consolidation, and commercial expansion of these companies.
Their mission is to help companies to meet the necessary requirements for listing on this market and raise capital through qualified investors from the Santiago Stock Exchange, through virtuous and collaborative efforts.
For Andrés Araya, Client and Business Manager of the Santiago Stock Exchange, "ScaleX is a new opportunity for financing small and medium-sized enterprises for their growth and development. Therefore, having the UC Anacleto Angelini Innovation Center as a new sponsor, with its outstanding track record and academic excellence, is great news for scaleups and startups, who will not only benefit from investment but also from their experience and network of contacts."
With the UC Innovation Center as the sponsor, the program will benefit from the support of strategic partners who are respected figures in the ecosystem. These partners will leverage their capabilities and experience to assist entrepreneurs, ensuring that they are fully prepared for the successful issuance and placement of securities on the Stock Exchange.
According to Francisco Meneses, Corfo's Investment and Financing Manager, "ScaleX was created to promote capital injections into companies, since the Chilean financial system has primarily focused on providing debt. Adding the Innovation Center of Universidad Católica is great news as it brings more diversity among sponsors and helps us support a wider range of technology-based ventures with significant growth potential across various industries in Chile, which require funding to solidify their positions."
Support and Advice
As a sponsor, the UC Innovation Center will provide expert advice to ventures that wish to be part of the ScaleX Market. By offering expert guidance, creating partnerships, and carrying out collaborative work, the Center will foster regional knowledge transfer for the benefit of society in Chile and worldwide.
Through ScaleX Market, not only is the offering of services and support to startups and scaleups in the national ecosystem diversified, but it is also strengthened. The goal is to assist their capital raising process and contribute to the growth of the industry.
According to the Executive Director of the UC Innovation Center, Ramón Molina, “Its mission is to promote an appropriate environment for the development of projects with scaling and high impact potential. In order to nurture the innovation ecosystem, the Center offers the necessary tools to achieve better results in meeting their objectives and entering the ScaleX market."
The role of the Center will consist of providing support from specialized professionals in the field, as well as advisory services, consultations, and connections that benefit both the applying ventures and the innovation ecosystem as a whole. It will offer the necessary tools to achieve better results in pursuing their objectives and entering the capital market.
In this way, the UC Innovation Center is fulfilling its mission to promote a pro-innovation and entrepreneurship environment that can inspire, connect, and coordinate the private, public, and academic sectors to add value to our country.
In its mission to promote an environment conducive to the development of innovative projects with scaling and high impact potential, the UC Innovation Center signed the sponsorship of Scalex Market in the emblematic main hall of the Santiago Stock Exchange, on May 23.
The ceremony was attended by Provost for Institutional Management Patricio Donoso, Research Vice President Pedro Bouchon, UC Innovation Center’s Executive Director Ramón Molina, Corfo’s Innovation Manager Francisco Meneses, Legislative Advisor to the Ministry of Economy Beatriz Von Loebenstein; and members of the UC Chile Office of Transfer and Development and DICTUC. Also in attendance were representatives from the strategic partners of the sponsorship: Carey, BCI stockbrokers, EY and UC Chile faculty members.
The signing of the sponsorship agreement with the Santiago Stock Exchange marks a significant milestone for Universidad Católica, which not only becomes the first higher education institution to join as a sponsor but also reaffirms the university's commitment to scaleups and startups in their capital raising efforts and the pursuit of value and commercial potential.