If you ever had a dream of taking your business to the shores of South America, Puerto Rico-based accelerator Parallel 18 is looking for international startups with a vision to expand its business to the United States and Latin America.
Applications for Parallel 18’s (P18) sixth generation are open until October 15th. The Puerto Rico-based accelerator is looking for innovative startups with a global vision that have traction and are in the process of scaling their sales or operations. P18 selects up to 40 startups from all over the world, and offer a USD 40,000 grant, mentorship, business connections, and free workspace for 20 weeks in their HQ’s in San Juan. In addition, selected companies have access to an extensive network of corporate contacts, mentors, and investors. Founders interested in being part of the accelerator need to apply online on or before Monday, October 15th at midnight.
“I’m thrilled to open applications for the sixth cohort of international startups. The network and experience of p18 have proven to be valuable assets for founders ready to scale globally. Meanwhile, Puerto Rico offers the right conditions for growing teams to thrive in a multicultural environment,” said Sebastián Vidal, Executive Director of P18.
P18 is an international accelerator for innovative high-impact ventures that can leverage Puerto Rico as a platform to expand their business to new markets, particularly the United States and Latin America. Twice a year, p18 launches a global call for applications. Startups interested in joining the programme are reviewed by an international panel of judges to select up to 40 companies each round. Since its creation in 2015, P18 has received 2,741 applications from over 60 countries and 119 companies have completed the program so far.
P18 offers a grant of USD 40,000 for each startup, plus coaching and training with world-class mentors, and workspace in San Juan, Puerto Rico for 5 months. Participants also have access to valuable contact networks to achieve internationalisation goals. One of the additional benefits to the participants is P18 Connect, a programme that links startups with recognised and high-profile corporations to promote business relationships and collaboration.
Those interested can also support their community initiatives by purchasing a special edition #HurricaneStrong t-shirt. Funds will be allocated to support, train and lead educational events for entrepreneurs in Puerto Rico. P18 can be followed via Instagram, Twitter, and Facebook @p18startups.
Parallel18 is an economic development initiative that seeks to attract and create high-impact startup companies that can scale from Puerto Rico to global communities beyond the Island, including the United States, Latin America, and Europe. The mission of the programme, operated jointly with the Science, Technology and Research Trust, and in collaboration with PRIDCO (Industrial Development Company of Puerto Rico) and the Department of Economic Development and Commerce of Puerto Rico (DDECC) is to expand, in the short term, the horizons of Puerto Rican and international entrepreneurs, and generate economic activity in the long term.
The Trust for Science, Technology and Research, is a non-profit organization created in 2004 to boost participation and job creation of Puerto Rico in the global knowledge economy by promoting investment and the financing of research and development of science and technology. By investing in technology research and marketing, the Trust serves as a catalyst for job creation and retention of highly-qualified and often bilingual island residents. They are also responsible for the public policy of Puerto Rico for science, technology, research and development.