PROGRAM BASICS:
What is P18?
P18 is a 5-month international acceleration program that selects up to 20 innovative startups to grow their businesses from Puerto Rico. The program provides funding, mentorship, corporate connections, and other resources to help startups scale globally.
When does the program run?
The upcoming cohort runs from July to November 2025.
What funding do startups receive?
Selected startups receive $40,000 in equity-free funding.
Is P18 focused on specific industries?
No, P18 is industry agnostic. We focus on startups that are innovative, scalable, and investable, regardless of their industry.
How much weekly time is required by the program?
The program requires four to six hours a week. In this time, you will meet with your Startup Specialist for weekly KPI Updates, participate in Mentor Sessions with experts in the field, connect with our mentor network for 1:1 Office Hours, and much more.
What about my team members? How many can/should I have? Are they required to live in Puerto Rico?
The program requires that the company have at least 2 full-time founders. Nonetheless, to participate in the program, your company must have one Team Leader and up to two Team Members, duly specified in the application.
In-person participation in the program is mandatory. All team members should be able to make the arrangements to be in Puerto Rico for the duration of the program. If not a U.S. citizen, the team must have the capacity to apply for a visa to enter the U.S.
ELIGIBILITY REQUIREMENTS:
Who can apply to P18?
Startups must meet the following criteria:
- Have at least 2 full-time founders
- Demonstrate traction
- Be in operation for 3 years or less
- Be willing to relocate to Puerto Rico for the 5-month program
- Have a growth plan centered in Puerto Rico
- Be innovative, scalable, and investable
Do I need to be from Puerto Rico to apply?
No, P18 is an international program open to startups from anywhere in the world! But, you should definitely be willing to live on the island during the 5 months of the program.
APPLICATION PROCESS:
How does the application process work?
The application process has multiple phases:
- Initial Application
- Follow-up Application
- Evaluation and Judging Process
- Selection Committee
- Interview (if applicable)
When is the application deadline?
Applications for the upcoming cohort close on Friday, April 25th at midnight.
Is there a fee to apply?
No, there is no application fee.
How many startups will be selected?
Up to 20 startups will be selected for the upcoming cohort.
When will I know if I’ve been selected?
Applicants will be notified of their status after each phase of the application process. Final selection decisions will be announced by the beginning of June 2025.
PROGRAM BENEFITS:
What does P18 offer besides funding?
- Introductions to 75+ corporate partners
- Hand-picked mentors for one-on-one guidance
- A Perks Program valued at $500,000
- Access to the Puerto Rico startup ecosystem
- Networking opportunities with investors and other founders
What is included in the Perks Program?
The Perks Program includes exclusive discounts on essential services like cloud hosting, marketing tools, legal services, and more. These perks help startups conserve cash flow during critical growth stages.
Do you take equity in exchange for the funding?
The $40,000 grant is equity-free. This resource lays the foundations for sustainable growth. Additionally, our program parallel18 Ventures supports startups through direct investments, The program has a Matching Fund, which is a follow-on matching fund designed to co-invest in promising parallel18 alumni.
Relocation to Puerto Rico
Why should I relocate my startup to Puerto Rico?
Our mission is to also nurture our local ecosystem with international startup innovation. We believe that entrepreneurship can promote economic growth and advance our Puerto Rican ecosystem!
Puerto Rico offers:
- Strategic location as a gateway to both U.S. and Latin American markets
- U.S. jurisdiction with bilingual talent
- A growing talent pool in tech, finance, and creative industries
- A collaborative startup ecosystem
- Opportunities in diverse sectors, including renewable energy, agriculture, and pharmaceuticals
Does P18 provide housing assistance?
We provide a grant that can be used to cover housing expenses (up to $5,000 for these purposes). As part of the cohort, we provide recommendations of places to stay.
Do I have to be incorporated in Puerto Rico?
The entity is the legal company duly specified in the application form behind the startup applying to the program. The entity needs to be incorporated or authorized to do business in Puerto Rico, in the United States or Puerto Rico as a Corp. or LLC company. In the case that the company does not have a legal firm, the program will provide you with the contacts of service providers who can help you in this process. If you’re planning to apply for any of the tax incentives available for startups, you need to be incorporated on the Island.
Which tax incentives apply to startups?
Startups can apply for several tax incentives according to their needs and operations. If you want more information about tax incentives and startups, visit Invest Puerto Rico.
What are the visa requirements?
We always encourage you to consult with your country’s U.S. embassy. Most parallel18 participants apply for a B1/B2 Business Visitor visa. Here’s a link with more information on that visa: https://travel.state.gov/content/travel/en/us-visas/tourism-visit/visitor.html.
ADDITIONAL QUESTIONS:
Is there a virtual information session I can attend to clarify any doubts about the application process?
Yes, we’re hosting a virtual information session on April 4th at 11:00 AM (AST). Register here: https://prsciencetrust.zoom.us/webinar/register/WN_e1V1jELFTvighR20uLch1A
What if I can’t attend the information session?
A recording of the session will be made available to those who register.
I have a question that isn’t answered here. How can I get in touch?
Please contact us via email at [email protected] with any additional questions.
Questions?
Get in Touch!