A new season to focus on startups, here is we’ve been up to
Ah, June! It’s either hot Summer sun or Winter chilly wind. Whichever it is for you, this month marks the beginning of a new season. Any plans to make the most of it? At parallel18, we see a season filled with initiatives that have the ultimate goal of creating more opportunities for underrepresented entrepreneurs, participants of our programs, and alumni.
With that in mind, we’ve publicly announced our P18Ventures Business Continuity Fund designed to aid #P18Alumni whose operations or sales might’ve been impacted because of the COVID-19 pandemic. The process has already started and we expect to support up to 41 companies with a US $25K investment using a standard convertible note. Keep reading to learn more about the details.
In the meantime, our efforts are also very focused on helping our newest cohort see growth results as we’re moving towards completing one month since the generation started. We’re happy to say that even if the remote aspect of this cohort had us a bit worried, engagement with mentors and the team has not diminished. Our entrepreneurs have been active in mentor talks, initial meetings with the P18 Team, and their traditional KPI meetings.
All the while, applications for our third pre18 cohort — exclusively tailored to support Puerto Rican companies in early stages — will be open up until July 6th. If you have any local startups to recommend, please share the information we’ll post in this newsletter or send them our way.
As you see, we are ready to start the new season with all our energies focused on supporting underrepresented entrepreneurs and keep strengthening Puerto Rico’s role in the global startup landscape.
A note to our readers
From day one, our purpose has been very clear: We believe in creating opportunities for all entrepreneurs of underrepresented groups as we support their dreams of building high-impact businesses that can reach the world.
Today this is more relevant than ever, and we’ll keep working to keep making it happen.
Highlights in a nutshell
- After a P18Connect intro, Silabuz, a Gen.7 #P18Alumnus and Evertec closed a deal to offer an additional benefit to the Puerto Rican tech company employees. The agreement gives the employees’ kids access to the startup’s coding courses for two months. The partnership will benefit all employees within every Evertec subsidiary in Puerto Rico and other countries.
- Dolmarie Mendez, the Puerto Rican cofounder of #P18Alumnius Abartys Health, has been featured as one of LATAM’s Top 20 Innovation Leaders according to Soy Emprendedor. Read the entire list of leaders here.
- Gen.2 Quotanda, Gen.4 Wisboo, and Gen.6 EduSynch are amongst HolonIQ LATAM EdTech’s 100 list! These #P18Alumni, along with the rest of the featured companies, were selected by HolonIQ’s Education Intelligence Unit from over 1,000 applicants and nominees. Check out the entire list here!
- Gen.8 #P18Startup Guardian Systems, a Puerto Rican company dedicated to creating artificial intelligence and analytical video platforms, announced their new app! True Checkpoint enables companies to control access of employees and visitors who could be potentially infected with COVID-19 or other contagious diseases. Learn more about how the app works here.
- Gen.5 Listopro has been recognized by none other than LinkedIn — the world’s most renowned professional platform — as the best agency to hire passive talents. Furthermore, the company has selected Listopro to conduct a case study based on its development. Read more about the case study here.
- Gen.1 #P18Alumnus Ayo Wearable comes to the rescue as stated by Men’s Health’s best sleep tech products to buy in 2020. Check out the full list here!
YOU’RE ALL SET! A lot has been happening, but this is about it, for now! If you’d like to keep up with us, remember to stay tuned to our social media for further updates as the month passes by or subscribe to our monthly newsletter.
PS: Don’t miss brand new episodes of #MentoredByP18 now on our Instagram Live in Spanish. The latest episodes have covered topics like investment and storytelling with two female leaders. Catch up here.
We’ll see you soon. Stay safe! :)