What Mike said. In addition I'd carefully poke small wood sticks dipped in epoxy in the exposed foam to give the blob of epoxy more support. Two or three sticks crossing with each other. **** sticks would be perfect.
I'd definitely put some glass fiber in the blob as filler. it will make the finished product less brittle.
If you really want to repair it the "right way" you have to build a taper in the epoxy shell next to the chip, epoxy a rough foam replacement in place (**** sticks again!) and then rebuild the shell with glass fiber and epoxy, probably three layers, one top to bottom and up top the other side, one back to front and back the other side and then one diagonal. Let it cure, sand, and then apply finish to match the existing one (what is is? gelcoat? paint?). But frankly, I think it is too involved for the size of the chip. But it will be lighter
