FAQ

How will my data be protected during the application process?

NESsT treats all the information it receives from social enterprises that apply to its programs, as well as those it collaborates with, in a confidential manner. The application form indicates that NESsT commits to handling all information collected as part of the application process confidentially. All companies that are invited to join the portfolio will sign a confidentiality agreement.

Can I apply if my company’s annual sales are below USD $100,000 but we have a Minimum Viable Product?

If your enterprise’s sales are below USD $100,000 but you are able to demonstrate potential for high social impact in the corresponding areas or for scaling impact in the next 2–3 years, you should still consider applying given the importance of social impact to the program.

Can I apply if my social enterprise is not currently based in Colombia or Chile, but plans to expand to these countries?

Since the acceleration program will be carried out with portfolio teams based in Colombia and Chile, companies based elsewhere do not meet the eligibility criteria for this open call. However, we invite you to regularly check our website for future opportunities if your company is able to expand its operations to the countries of interest.

If my social enterprise operates both in Chile and Colombia, can I submit a separate application for each country?

In this case, we would ask you to submit only one application including data from both countries (sales, team, etc.), and to clearly indicate the location of the team that manages the social enterprise.

My social enterprise is currently launching operations in both countries with a proven model that requires validation and adaptation. Which stage of development would apply?

Based on the information provided, your social enterprise would likely fall under the expansion phase, presuming you have some level of sales. However, our portfolio team would need to evaluate your business model and social impact in order to assess your potential to scale. In the application form, we recommend you select the ‘preparation to grow’ stage and enter your current sales figures.

What does the program funding not cover?

The funding provided by the program does NOT cover existing debt payments, e.g. financial debts, operational debt to suppliers, purchase and payment of shares, payroll liabilities.

Are there any specific requirements for companies operating in Chile or Colombia that are founded by individuals who are nationals of other countries? e.g. Brazil, the US, the UK, etc.

As long as your company is established and operational within the countries of interest, we have maintained a neutral stance regarding the founders' nationality. What holds paramount importance is that the founder resides in the targeted country and is a member of the executive team.