Learn here more about the program.
Parallel18 is a top-level, performance-driven international startup program with a social mission: offer entrepreneurs from all over the world access to high-quality business training, funding, and networks to help them scale globally while working to position Puerto Rico as a unique hub for innovative businesses and technology.
We are part of the Puerto Rico Science, Technology, and Research Trust, a private non-profit organization created to maximize Puerto Rico’s participation and creation of jobs in the global knowledge economy by promoting investment and financing of science and technology research development.
On March 27th, we opened our application process to our eleventh cohort (Gen. 11) of the international acceleration program P18. This program accepts startups from all over the world, and during the program, they receive mentoring, business education, and $60,000 in funding. Every year we receive thousands of applications from across the world, and up to 25 startups (the best of the best) will make the cut.
If you have a startup and are interested in applying to P18, you should know a few things before applying.
First, your company must be innovative. Although we are industry agnostic, we are in search of innovation. This doesn’t mean your company should be based on technology, but you should differentiate in your category.
Second, your company must have three years or less in operation.
Third, your startup must generate sales, and have a validated product in the market. You should have traction and growth and be a scalable business that can adapt to other markets.
The best part… It is a requirement that at least two funders be able to work full-time for the company during the program and that the founders be physically in Puerto Rico. We want the startup founders of Gen. 11 to be completely immersed in our ecosystem and to work directly from the island. So what’s wrong with moving to the tropical paradise of Puerto Rico!!
Lastly, as a founder, you must present a plan on how your company will take advantage of the entrepreneurial ecosystem in Puerto Rico to scale your business.
What do startups receive once they enter the program?
This year parallel18 is giving $60,000 in funding. This funding will be divided into two parts. The first part will consist of a $40,000 equity-free grant and the second half will be a $20,000 investment through a Simple Agreement for Future Equity (SAFE).
If your startup gets chosen for the program during the 20-week duration, it will also receive mentoring and growth monitoring. Your company will also have access to the entire parallel18 community that is made up of all the program alumni, a vast network of mentors, investors, corporate and business partners, and contacts who work closely with entrepreneurs to address all key aspects of your business needs.
You will also benefit from exclusive perks and access to the parallel18 TalentApp, a platform with professional resources where you may recruit local talent available to work as freelancers, full-time, part-time, or even internships.
As a startup, you may also use our subprograms parallel18 Connect and parallel18 Ventures. Parallel18 Connect promotes and links startups with large, well-known, and high-profile corporations to promote business relationships and collaboration between both parties. On the other hand, parallel18 Ventures focuses on helping startups create a solid investment strategy while connecting them with a curated investor network.