The Chilean $40k tech startup grant repeatedly makes news, and much is made of it. It's a bit overplayed. In practice, getting them to actually disburse the money is pretty damn hard, for reasons fairly similar to the reasons for which such a thing could be hard in Argentina.
I've never been to Chile, but from what I hear from those who went there in search of a superior business environment, more stable economy and political system, etc., it's not paradise. They say that underneath its polite veneer of civil society, rule of law and a stable currency, Chile has many of the same problems Argentina does, just not as pronounced, and it certainly has the same problem of stratification and high Gini coefficient (aka extreme wealth, extreme poverty and not much of a middle class) that is common across much of Latin America.
I wouldn't know, just passing on second-hand information.