Parallel18 (P18) launched its third open call
targeted to innovative startups with a global vision that have a functional
prototype, and are working to increase their sales or expand their operations.
The accelerator will choose up to 40 startups from all around the world, all of
which will receive an equity free grant of USD $40,000; mentorship, guidance,
and work space for 5 months in its San Juan headquarters. In addition, the
selected companies will have access to a wide range of corporate contacts,
mentors, and investors.
targeted to innovative startups with a global vision that have a functional
prototype, and are working to increase their sales or expand their operations.
The accelerator will choose up to 40 startups from all around the world, all of
which will receive an equity free grant of USD $40,000; mentorship, guidance,
and work space for 5 months in its San Juan headquarters. In addition, the
selected companies will have access to a wide range of corporate contacts,
mentors, and investors.
Interested companies
must complete the online application in or before December 13, 2016 at 11:59pm (Eastern Time.)
must complete the online application in or before December 13, 2016 at 11:59pm (Eastern Time.)
“Our experience over the
last two P18 open calls led us to identify a series of common qualities among
the entrepreneurs. These qualities inspire us and we want them to inspire
Puerto Rico and entrepreneurs around the world. This is what we call the
generation of innovation, people of all ages, backgrounds, and nationalities
who show their compromise to improve the country and leave their mark in our
society with their entrepreneurial values,” said Sebastián Vidal, Executive
Director of P18.
last two P18 open calls led us to identify a series of common qualities among
the entrepreneurs. These qualities inspire us and we want them to inspire
Puerto Rico and entrepreneurs around the world. This is what we call the
generation of innovation, people of all ages, backgrounds, and nationalities
who show their compromise to improve the country and leave their mark in our
society with their entrepreneurial values,” said Sebastián Vidal, Executive
Director of P18.
Generation Innovation
became the main message of the campaign for their third cohort. In addition to
recruiting high-impact startups, the campaign aims to promote Puerto Rico as
the perfect place to innovate and being an entrepreneur.
became the main message of the campaign for their third cohort. In addition to
recruiting high-impact startups, the campaign aims to promote Puerto Rico as
the perfect place to innovate and being an entrepreneur.
“In the startup jargon,
people talk a lot about having a “secret sauce”, something that makes them
unique and makes your different from others in your market. One of P18’s main
objectives is to create the conditions so that the local and global
entrepreneurial communities connect, collaborate, and exchange knowledge.
That’s our secret sauce,” Vidal highlighted.
people talk a lot about having a “secret sauce”, something that makes them
unique and makes your different from others in your market. One of P18’s main
objectives is to create the conditions so that the local and global
entrepreneurial communities connect, collaborate, and exchange knowledge.
That’s our secret sauce,” Vidal highlighted.
 |
| Sebastián Vidal, Executive Director of P18 |
P18 is an international
accelerator for high-impact, innovative startups that see Puerto Rico as a
platform to expand their businesses, particularly in the United States and
Latin America. Since its launch in December 2015, 64 startups from over 15
countries have participated in the program. In its last two open calls, the
accelerator received 922 applications from more than 40 countries.
accelerator for high-impact, innovative startups that see Puerto Rico as a
platform to expand their businesses, particularly in the United States and
Latin America. Since its launch in December 2015, 64 startups from over 15
countries have participated in the program. In its last two open calls, the
accelerator received 922 applications from more than 40 countries.
P18 offers an equity
free grant of USD $40,000 to each startup, guidance and mentorship from
highly-qualified global mentors, and work space in Santurce, Puerto Rico for 5
months. Participants also have access to a valuable network of contacts to help
them reach their global goals. One of the additional benefits offered to
participants is the newly-created P18 Connect, a program that links startups
with high-profile corporations to promote business and collaboration
relationships.
free grant of USD $40,000 to each startup, guidance and mentorship from
highly-qualified global mentors, and work space in Santurce, Puerto Rico for 5
months. Participants also have access to a valuable network of contacts to help
them reach their global goals. One of the additional benefits offered to
participants is the newly-created P18 Connect, a program that links startups
with high-profile corporations to promote business and collaboration
relationships.
“One of the main
challenges for startups is to get the attention of high-level executives for
pitching their company or get their advice. This is precisely what we do with
P18 Connect, take startups to the meeting room of big companies to get them to
know each other and begin their business relationship,” said P18’s director.
challenges for startups is to get the attention of high-level executives for
pitching their company or get their advice. This is precisely what we do with
P18 Connect, take startups to the meeting room of big companies to get them to
know each other and begin their business relationship,” said P18’s director.
As an additional
incentive, startups that stay in Puerto Rico after completing P18 are eligible
for a follow up fund of up to USD $75,000. This incentive works as a matching
fund for the companies that raise private investment while in the program.
incentive, startups that stay in Puerto Rico after completing P18 are eligible
for a follow up fund of up to USD $75,000. This incentive works as a matching
fund for the companies that raise private investment while in the program.
P18 selects up to 40
companies twice a year using a competitive process in which companies are
evaluated by close to 100 international judges. Eligibility depends on a series
of requirements, for example, startups must be innovative companies, have three
years or less, be beyond concept stage, have sales or a proven product, and
global scale.
companies twice a year using a competitive process in which companies are
evaluated by close to 100 international judges. Eligibility depends on a series
of requirements, for example, startups must be innovative companies, have three
years or less, be beyond concept stage, have sales or a proven product, and
global scale.
During the open call,
P18’s team will offer in-person orientations in and out of Puerto Rico.
Orientations will begin next week –from Monday, November 14th to
Friday, November 18th– at 1pm in the accelerators HQs in Santurce.
Other stops include San Francisco, California and New York City on November 30th;
and the accelerators international festival Switch in Leon, Mexico.
P18’s team will offer in-person orientations in and out of Puerto Rico.
Orientations will begin next week –from Monday, November 14th to
Friday, November 18th– at 1pm in the accelerators HQs in Santurce.
Other stops include San Francisco, California and New York City on November 30th;
and the accelerators international festival Switch in Leon, Mexico.
