INTERNATIONAL PROGRAM
Our acceleration program welcomes companies from around the world to help them scale to global markets. Our team works hard to provide high-quality business education, develop business connections, and create investment opportunities for all our startups.
8.5K+
applications received including Gen. X
256
companies have participated in the program
74.7%
of the companies that have been through P18 are still in operations
Why does our acceleration program work?
Equity-free funding $40k USD*
We provide a $40K USD grant to help your startup lay the foundations for growth. The money is divided into two halves, one is deposited when companies begin the program and the other, once they pass a mid-point evaluation. How can you use the money?
*For GenX, startups received a $125k grant and a $25k Investment on an uncapped safe with a Most Favored Nation Provision(MFN)
Strong acceleration curriculum
More than 100 mentors are part of the parallel18 network. Each generation, we hand-pick experts that have the best fit with the cohort so they can share their knowledge through talks and one-on-one meetings. Parallel18’s partnerships with initiatives such as Google for Startups and others allow us to recruit high-level mentors that can provide individualized feedback.
We mean business
Through our parallel18 Connect program we match startups with local and international companies that are eager for innovation and can see their solutions as a way to move forward. 32% of our alumni say they are still in contact with leads they met while in the program, while 24% of them have closed business on the island.*
*According to 2020’s alumni survey
A growing investment scene
In just six years, parallel18 has managed to help startups raise more than $16M US investment from local investors*. In addition, the program offers a follow-on fund of up to $75K USD for qualifying alumni. So far, parallel18 Ventures has invested in 39 alumni. But that’s not all! In each cohort, our team looks for investors who are ready to put their money in startups that participate in P18.
*According to 2020’s alumni survey
Work-life balance like no other
Puerto Ricans are known for their warmth and hospitality. Our Caribbean lifestyle, all-year-long warm weather, Latin culture, and the United States infrastructure allow startups to work in a place they will love. It’s a win, win, right?
LOCAL PROGRAM
Our local pre-acceleration program is focused on helping innovative and early-stage Puerto Rican startups that have the potential to upscale into global markets. We are closing the funding and education gap that allows them to focus full-time on their new business and to think globally.
1.3K+
applications received
138
companies have participated in the program
50
of them have participated in P18
Gen.5
started in January 2023 with 24 startups ended in April 2023
Why does our pre-acceleration program work?
Equity-free funding
We provide a $25K USD grant to help your startup lay the foundations for growth. The money is divided into two halves, one is deposited when companies begin the program and the other once they pass a mid-point evaluation. How can you use the money?
Strong acceleration curriculum
More than 100 mentors are part of the parallel18 network. Each generation, we hand-pick experts that have the best fit with the cohort so they can share their knowledge through talks and one-on-ones. Parallel18’s partnerships with initiatives such as Google for Startups and others allow us to recruit high-level mentors that can provide individualized feedback.
We’re a helping hand
The structure of the program helps us monitor your progress and understand what needs arise week by week so that you can achieve your goals.
LOCAL PROGRAM
A community-driven post-acceleration program designed to support innovative companies that are in a growth-stage path and seek access to resources beyond the actual offerings provided by incubators and accelerators to sustain and expand their growth.
25
Xpand members
(1st cohort 2022)
41%
woman owned
7.5M
currently raising
231
full-time employees
Why does our post-acceleration program work?
International investor network
Access to a vast and international investor network with more than 600 active investors through the parallel18 Ventures subprogram.Free access to the recently launched parallel18’s ventures app, an application that facilitates connections with investors for companies that are looking to raise investment capital.
Partnerships
Connections and prospective partnership access via parallel18 Connect subprogram’s network of +75 partners.
Talent Bank
Access to parallel18 Talent App with more than 1,300 domain knowledge experts for hire to ease the difficulties of access in terms of talent acquisition.
Co-Working Space
Access to our coworking space throughout the duration of the program facilitating access to parallel18 active mentors-in-residence and also our specialized team of experts.
Business Support Network
Colmena66 will be providing acces to 240+ organizations that are part of the Colemna66 Business Support Network (Red C66) and connecting Xpand members with Red C66 resources partners as needed.
Mentorship
Specialized mentorship by tailoring parallel18’s mentor-in-residence program to align with the program’s participants necessities.
LOCAL PROGRAM
Fueling Life Science Entrepreneurship
BioLeap bridges the critical gap between Life Sciences research and successful commercialization, fostering innovation in Puerto Rico’s scientific landscape. Our mission is to propel visionary projects from the laboratory to the market, accelerating translational research into tangible solutions. In a field where promising ideas often struggle to navigate the complex and extensive journey from concept to market, BioLeap stands as a catalyst for transformation, offering strategic mentorship, resources, and a collaborative ecosystem.
What does our life sciences program offer?
Strong Incubation Curriculum
A 12-week curriculum-driven incubation initiative designed to instruct aspiring entrepreneurs in the life sciences sector on the intricacies of conducting business within the industry.
Technical Assistance
A 14-week period of technical assistance open office hours is provided for participants in the current cohort. During this time, they can receive mentorship and guidance for various aspects of their businesses, including financials, operations, grant writing, proposal writing, marketing and communications, research and development assistance, corporate connections, access to capital, and more.
Connections
A structured path for advancement that includes connections with our pre-acceleration (pre18), acceleration (P18), and post-acceleration (Xpand) programs, ensuring a comprehensive learning and growth experience throughout their entrepreneurial journey.
The program offers immediate entry to the Puerto Rico Economic Development Incentives Office for expedited processing of tax credits, export incentives, and various other advantages.
Support of the Puerto Rico Science, Technology and Research Trust
BioLeap is part of the Puerto Rico Science, Technology, and Research Trust, a private non-profit organization created to maximize the island’s participation and creation of jobs in the global knowledge economy. As we establish a collaborative network that can further Puerto Rico’s Life Sciences sector, we work closely with many of the PRSTRT subprograms. This strategy aims to bridge the divide between the outcomes of scientific research and their effective commercialization in the life sciences sector.
Not sure which program to apply to?
You qualify for Pre18 if:
- You are a Puerto Rican startup.
- You can clearly identify what makes your product unique and you have studied the competition inside and outside of Puerto Rico to confirm it.
- Your application or e-commerce has a functional webpage that can be used to sell.
- You have an MVP of your physical product or a 3D prototype that shows it works.
- You have final blueprints of your physical product.
- If your product is food, the recipe to create it is the intellectual property of the company.
- You have been selling your product for less than three years.
You qualify for P18 if:
- Your startup is innovative, and in an early stage with 3 years of operations or less.
- You have a solid traction record with sales or users that are willing to pay for your product.
- You are ready to explore other markets.
- You are able to move to Puerto Rico for the duration of the program: If selected startups will have to come to Puerto Rico to open their commercial bank accounts and to participate of in-person sessions and business opportunities.
- You have a plan for your performance in Puerto Rico: this includes hiring, acquiring customers, among others.
You qualify for Xpand if:
-
- Your company generates +$250k in annual sales or revenues
- Your company is a for-profit organization, incorporated in Puerto Rico or in the United States, with authorization to do business in Puerto Rico. The company must maintain an active operation in Puerto Rico.
- The business is owned or co-owned by a Puerto Rican founder and/or of Latino descendant.
- The company is exporting their product (or service), or have the infrastructure to do so.
- The company has a minimum of two founders dedicated exclusively to its operations.
Too early for parallel 18 programs?
Learn about other entrepreneurship programs that are part of the Puerto Rico Science, Technology, and Research Trust.
At Colmena66, they facilitate the entrepreneurial process by connecting entrepreneurs with the resources they need so that anyone in Puerto Rico can start and grow their business.
FASE1 is an entrepreneurship program with two main goals: to provide universal access to entrepreneurship education and to incubate ideas that can be transformed into successful startups.
Questions?
Get in Touch!