Three million to start a business: Contest fund launched for the unemployed

Chilean authorities are rolling out a new initiative to combat unemployment by empowering individuals to become entrepreneurs. Sercotec has introduced "Capital Semilla Modo Empleo," a fund designed to help unemployed citizens formalize existing businesses or launch new ventures.

This program is part of a broader inter-ministerial effort focused on employment, with the government projecting the creation of 50,000 new jobs. In its initial phase, the fund will provide financial and advisory support to 583 entrepreneurs. Each selected participant will receive a non-reimbursable subsidy of 3 million Chilean pesos, along with expert guidance to develop a business plan and establish a formal company.

The initiative specifically targets demographic groups facing higher unemployment rates: young people aged 18 to 29, women between 30 and 54, and adults over 55. This focus aims to address the significant challenge of over 980,000 people currently without work in the country.

Interested individuals can apply through the Sercotec website, www.sercotec.cl, starting midday on August 25 and continuing until September 8. Applicants must belong to one of the prioritized age groups and complete the necessary registration and application forms on the Sercotec portal.