In its study “Tech Cities”, the international property consultancy, Savills, had as an objective to discover which were the most technological cities in the world, identifying 22 leading places in the field.
But, what are the determining aspects that define a better place for technological development?
The city of Santiago has been highlighted in Latin America for its good quality of life, which, according to research, contributes to the emerging technological sector because of the low crime rate and high urban activity.
The Chilean capital was placed 19th in the world ranking, and the report emphasizes the benefits of lower rent costs in Chile compared with other tech cities, making it easy for companies to start up. Santiago also stands out for its access to human capital, and for its high level of millennials vs boomers working in technology. These two aspects are key enablers for a high potential for growth based on innovation and technology. Savills use the cost of a flat white and transport costs as indicators, and, in Santiago, both are under the average costs of other cities, which include Tokyo, London or San Francisco.
According to Savills, the so called “Chilecon Valley” of Santiago is a relatively new technological ecosystem, but it is quickly developing. Moreover, it is supported by financial support from the government through entrepreneurship programs such as Start-up Chile.
One of the other initiatives that stands out in the study is the S Factor program, which is an accelerator specifically focused on female entrepreneurs working on high impact projects. Also, the MBA at Universidad del Desarrollo was recognized as best study program under the category ‘Entrepreneurship and Innovation in Latin America’, in the America Economía 2016 ranking, due to the technological vision and motivation given to the students.
In answer to the increasing demand of professionals in Technology and to the fact that Santiago has become a destination for foreign innovation companies, the government has launched a “Visa Tech”. This Visa, the first in Latin America, aims to attract international professionals to work in this growing area of innovation and technology.
This research highlights that Santiago offers a favourable environment and government support to promote a high growth of technological innovation for companies and tech professionals.
Learn Chile: a consortium of 21 Chilean higher education institutions that work together, with support from Chilean government to enhance the promotion of Chile as a destination for international students who choose our country to live the experience of studying abroad. LearnChile.cl