Chile has established programs like CORFO and Startup Chile to boost entrepreneurship. CORFO, founded in 1939, provides financing for startups but mostly helped small, local businesses. Startup Chile, founded in 2010, provides seed funding and visas to attract global entrepreneurs but startups often leave after the program. While these programs had some impact, Chile needs to focus on building scalable startups in specific fields and connecting them to enterprises and investors to truly establish itself as Latin America's innovation hub.