Our startup has recently been accepted into StartupChile (SUP).
If you don't know, they offer a 40K grant to launch over 6 months in Chile without claiming any equity in your project. Our team will likely accept, but I am concerned about the fine print, specifically spending caps and reimbursements.
Does anyone have any experience with SUP they could share?
First of all, congratulations on being accepted! Maybe we'll see each other in a couple months, we've been considering applying in a future round. :)
I've talked with several people there about this and other topics. From what I hear, you should be taking around ~5K per person to support the first two months, while things get set up for the reimbursements. After that, it's just a matter of keeping receipts of everything and they'll reimburse in about 15 days time.
As for accepting, I think you definitely should. Every company I've seen going to Startup Chile has grown tremendously and really made a profit (both money & value) from going. Don't throw away the opportunity.
Hope that helps!