The latest portfolio from Puerto Rico’s Parallel18 startup accelerator
Puerto Rico is quickly arising as a key tech center point, driving huge monetary development and going about as a scaffold between Latin America and the US. Filled by a unique startup scene and a flourishing local area of business people, public and confidential area pioneers on the island are cooperatively planning to really cause the environment to develop more.
With regards to development and business, parallel18 is the go-to name. Laid out in 2015 by the Puerto Rico Science, Innovation, and Exploration Trust (PRSTRT), is an exhibition driven global startup program with a social mission. This association gives business people overall admittance to great business preparing, awards, tutors, business contacts, and financial backers to scale internationally while situating Puerto Rico as a remarkable center for inventive organizations and innovation.
As of late, the 11th era of parallel18 saw the effective perfection of tries by both neighborhood and worldwide new businesses. A two-day festivity unfurled, highlighting the profoundly expected DemoDay and the parallel18 Adventures Culmination, where 18 graduated class from the global speed increase program displayed their venture rounds to the program’s financial backer organization.
Business people in the palace
On Thursday, November ninth, 2023, against the grand background of San Felipe Palace at El Morro in San Juan, Puerto Rico, 19 organizations from different areas like Puerto Rico, Mexico, Argentina, the US, Azerbaijan, Colombia, Uruguay, Peru, Brazil, and the Dominican Republic introduced their answers, accomplishments, and tentative arrangements at the DemoDay. The program decisively coordinated its festival with Worldwide Business venture Week.
The companion of Age 11 addressed a range of ventures, including Insurtech, Proptech, Undertaking SaaS, Efficiency SaaS, Instruction, Shopper Products, Internet business, Healthtech, and FinTech. These new businesses, containing 100 percent innovation based organizations, each got a $60,000 financial commitment, split into a $40,000 value free award and a $20,000 speculation through a Straightforward Understanding for Future Value (SAFE).
Dr. Héctor Jirau, Leader Chief at parallel18, communicated pride in propelling innovation advancement and development.
“Not only have these technologies and solutions accelerated their development on our island, but they have also leveraged the resources Puerto Rico offers to lead that growth. With diverse representation from Latin America, the United States, the Middle East, and Puerto Rico, we once again position the island as a global innovation hub,” added Dr. Héctor Jirau, Executive Director at parallel18.
Age 11 comprised of organizations from Puerto Rico, Mexico, Argentina, the US, Azerbaijan, Colombia, Uruguay, Peru, Brazil, and the Dominican Republic. These included: Cuvro (Puerto Rico), Objection (Puerto Rico), Buzzzy (Puerto Rico), EcoSiS (Mexico), PATHBOOKS (Mexico), R3D (Mexico), Kasera (Mexico), Nume (Mexico/Argentina), CryptoMate (Argentina), Flexit (Argentina), Traction (USA), Parrots Inc. (USA), Recepta Inc. (USA/Azerbaijan), GyftGram (USA), Sekure (Colombia), Skyblue Examination (Uruguay), Unicorn Foundation (Peru), Adaflow (Brazil), and Botcity (Dominican Republic).
Eng. Lucy Crespo, President of PRSTRT, underlined the’s trust in the 19 significant organizations, denoting the second companion wherein they contributed. She expected the effect these organizations would have on the nearby and worldwide economy as they develop and venture into additional business sectors.
“We celebrate that 275 companies have now completed the international acceleration program P18. This cohort is the second in which the Trust has made an investment, and we do it because we believe in each of these 19 valuable companies. I am confident that the learning and mentoring they have received during the past 20 weeks at parallel18 will allow them to continue growing and expanding into more markets, facing challenges, and seizing business opportunities, thus impacting the local and international economy,” emphasized Eng. Lucy Crespo, CEO of PRSTRT.
Notwithstanding the DemoDay, the parallel18 Adventures Culmination united program graduated class and financial backers, offering a stage for organizations presently raising money to pitch their items and administrations to nearby and global financial backers.
Individuals’ Decision Grant went to Cuvro, making them a $2,500 money prize supported by Banco Famous. Buzzzy got the GiveBack Grant for contributing the most to the innovative local area, introduced by the Public Puerto Rican Office of Trade (NPRCC) with a worth of $1,000.
DECA Examination granted administrations and monetary rewards to Gen. 11 organizations Cuvro, Buzzzy, Pathbooks, and Parrots, adding up to more than $6,000 in administrations for Cuvro and $2,000 cash for the others. The parallel18 Adventures Highest point highlighted grants supported by the NPRCC, offering three organizations monetary rewards of $1,000, $500, and $250.