GenShare Establishes Headquarters and Global IT Services Delivery Center in Chile

GenShare, a joint venture between UST Global and the General Electric Company, and a provider of IT services and solutions, has reportedly selected Chile for its new global headquarters and IT services delivery center.

According to a press release, UST and its partners had evaluated seven Latin American countries before selecting Chile as the top location to provide GenShare's high-value IT services. GenShare has been enabling comprehensive IT services across the software development life cycle including design, development, testing, deployment and application management. The company is also said to be planning to reach 1,000 employees in Chile by 2015.

"As we explored Latin American locations, Chile's highly educated workforce, unparalleled business environment, advanced communications infrastructure and low operational cost made it a natural choice for a nearshore IT services delivery center for North America," said Arun Subramony, general manager of GenShare, in the release.

Subramony said Chile is the best location to for high-value offshored services.

Chile’s stable and matured economy has positioned it as the regional hub for Latin America. "We are finding that Chile is attracting increased attention from organizations interested in expanding, or in this case, establishing their global footprint," stated Nicolo Gligo, executive director of the U.S. for CORFO, the Chilean Economic Development Agency.

"In particular, companies seeking a multisourcing/multishoring global strategy are choosing Chile as their entry point into Latin America for servicing the region and North America. The combination of our region-leading business environment, exceptional talent pool and competitive costs has enabled Chile to become a hub of innovation and operational excellence, attracting companies and people from around the world who seek competitive advantage and lower risk in their global strategy," added Gligo.

GenShare officials said the company will leverage its world-class procurement sourcing platform and network of relationships to deliver order-to-cash services for clients. GenShare will initially provide these services from Chile and India. Moreover, the company has also partnered with Duoc and other local universities to further cultivate future talent for its operations and participate in Chile's drive to become a global force for offshored services.

InvestChile is an investment program created by the Chilean Economic Development Agency or CORFO in 2000. The program promotes Chile as a business platform to access Latin America and the world and facilitates investment through a series of incentives, services and comprehensive information regarding business opportunities in various sectors of the Chilean economy. Among the services provided, InvestChile facilitates access to business networks and government institutions, helps investors find service providers and suppliers, and arranges meetings with industry leaders and visits to companies.