The source of the article can be found at:
http://www.economist.com/node/21564564(Titled The Chilecon Valley challenge, from The economist)
The problem I have with this article is the second to last paragraph, which states that "And although the program to to attract foreign entrepreneurs is promising, other government initiatives in that area- such as offering $40000 grants to start-ups- are less sensible."
Can anyone tell me why the subsidies being offered to start up companies are not sensible? Thank you!