They don't give you 40k cash, they have some sort of reimbursement plan. You also can't just go down there and give to yourself as a salary. Borderline scam.
Edit: It also looks can also choose whether you prefer to have the funding as advance payment or reimbursement[2]
[1] Section V, pages 4-5, http://www.corfo.cl/startupchile/download/Technical_and_admi...
[2] Section 4, page 8 of the same pdf