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.
9K+
applications received including Gen. X
257
companies have participated in the program
85%
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.
1K+
applications received
138
companies have participated in the program
50
of them have participated in P18
Gen.4
started in January 2021 with 27 startups ended in April 2022
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.
The Puerto Rico Science, Technology, and Research Trust
Parallel18, the entity that shelters pre18, is part of The Puerto Rico Science, Technology and Research Trust. The non-profit organization aims to promote the welfare of citizens through programs that promote knowledge, research, and entrepreneurship.
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. All of this can be subject to change depending on the COVID-19 pandemic protocol and restrictions.
- You have a plan for your performance in Puerto Rico: this includes hiring, acquiring customers, among others.
Too early for parallel 18 programs?
Learn about other entrepreneurship programs that are part of the Puerto Rico Science, Technology, and Research Trust.
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Questions?
Get in Touch!