St Lucia a small country in the Caribbean with 161k inhabitants has had 2 nobel price laureates.<p><a href="http://www.stlucianobellaureates.org/" rel="nofollow">http://www.stlucianobellaureates.org/</a><p>This is quite impressive, but is more representative of how good the British system was at educating elites throughout the realm through their system of excellent local grammar schools feeding into the UK university system.<p>This hasn't translated so much to entrepreneurial success yet. Entrepreneurs in the Caribbean tend to come from the poorer less educated ranks or as immigrants. The successful intellectuals become European style public intellectuals or work in government.<p>Kingston Beta <a href="http://kingstonbeta.com/" rel="nofollow">http://kingstonbeta.com/</a> is trying to change this culture by getting some of the extremely smart people in the Caribbean to focus on startups. I hope the best for them.<p>What I'm trying to say here is that education is not the only thing needed. Israel as he mentions has great universities, but it also has a completely different mentality to the mentality found in the middle classes in Latin America including Chile.<p>As a matter of fact many of the big success stories in China such as Wenzhou is founded on pure entrepreneurial spirit and has nothing to do with education:<p><a href="http://reason.com/archives/2011/11/15/chinas-black-market-city/singlepage" rel="nofollow">http://reason.com/archives/2011/11/15/chinas-black-market-ci...</a><p>And that is exactly the point of Startup Chile. It is trying to change the mentality not of Chilean startups themselves (they are already on the program), but rather Chileans as a whole. The investors will come when the successful startups emerge. And don't count on local investors.<p>Local investors who have made too much money easily in an unrelated field are not good news. In Chile as he says it's from natural resources like copper.<p>We are fighting with this here in Miami as well. The local investors are not sophisticated enough to deal with early stage tech startups, yet there is plenty of money here. Much of the money made here was in real estate, hospitality and banking. Most people in the local startup scene are not looking for local money for that reason.<p>Morten Lund had a rant a few months ago in Danish <a href="http://lundxy.com/2011/08/i-have-to-get-it-our-in-danish-sorry/" rel="nofollow">http://lundxy.com/2011/08/i-have-to-get-it-our-in-danish-sor...</a> about the Danish investors. It's much for the same reason, but with a special northern European twist. The Danish investment funds have virtually no former entrepreneurs on their boards. They consist of CEO's of large companies, trade union bosses and representatives from local government. All people used to easy money who haven't got a clue about entrepreneurship. Which is pretty much how you could describe the country as a whole.