BUS604: Innovation and Sustainability

Background

Santiago's iF, launched in 2014, was born out of entrepreneurs' need for a one-stop shop where they could give shape to their ideas, look for funding, carry out tests and experiments, share knowledge, and get professional advice. At iF, individuals, collaborators, social organizations, innovation organizations, thematic incubators, businesses, start-ups, entrepreneurs, investment funds, and universities all work together to make this business model a reality - and one that benefits the country’s development.

In Essence

iF positions itself as an ideas factory for innovation and entrepreneurship where collaboration inspires entrepreneurs to focus on what they know best how to do while the community provides the means to make their ideas happen. The space works with private companies, academic institutions, and the government. iF offers its members a customized innovation approach, providing them with a space to collaborate, exchange ideas, and look for new solutions among people from different organizations, backgrounds, and aspirations on a day-to-day basis. The space highlights that this approach is transforming the traditional way of working in Chile. To expand its community reach, iF also partners with private companies and universities that support innovation and entrepreneurship.

Impact

iF is an example of a general space that has been actively investing its resources into promoting urban regeneration and building entrepreneurial community around it. iF uses both subscription and rental/events business models and, as is evident from usership rates, it successfully uses its space to fuel the project’s growth. It also implements  diverse  educational  mechanisms  to  harvest  local  talent  and  develops  partnerships  with  private  companies and academic institutions to create a stronger ecosystem around the space's activities.

The space's urban regeneration impact is evident through iF's role in reshaping Barrio Italia, a previously residential neighborhood now transformed into a center for art, design, and gastronomy for the local community.  iF is located in a former hat factory that is a rare extant example of Santiago's early 20th-century industrial architecture. Closed for a long time, the building later became associated with the city's nightlife. iF successfully repurposed the building, opening it to a wider community and providing citizens with a public space while also conserving the historical value of the space.

In Practice

Project in Focus

The  iF-backed  Academia  de  la  Felicidad  (http://www.academiafelicidad.org/)  uses  new  forms  of  student- teacher  relationships  and  new  ways  of  delivering  knowledge  in  its  programs.  First  tested  in  a  workshop  in  2014, the Academia now functions as an independent educational facility. It offers workshops, courses, and coaching sessions focused on providing Chileans with new business skills and help in unlocking their entrepreneurial potential.