Chile: An Innovative Incubator

CHILE - Salmon aren't native to Chile. So how did this shoestring of a country best known for its immense copper reserves become the world's second-largest producer of the rosy-fleshed fish?

Much of the credit goes to a Santiago business incubator called Fundación Chile. In the 1980s the nonprofit foundation concluded that Chile had natural competitive advantages that could make it a big success in commercial salmon farming.

Abundant freshwater lakes and saltwater fjords along the country's 6,435-kilometer Pacific coast don't freeze during the winter, which means the salmon grow faster, reaching market weight at least six months earlier than they do in Norway, the world's other big producer.

By 1982, Fundación Chile had its first salmon farm up and running. Seven years later it sold it to a Japanese company for $22 million.

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Source: businessweek.com

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