An extra hot — and active — Summer

We’re back! And we’re back in style with a new generation of Puerto Rican innovators. Pre18’s kickoff last July 15th welcomed 34 local companies that are now on the road to reach the market and positively impact the entrepreneurship ecosystem in the island.

Meanwhile, July 15th was a really hectic day, as we also wrapped applications for our seventh cohort, which is set to start in early November. Needless to say, we’re eagerly waiting to see the results. BUT first it’s judging time, where startups are evaluated by more than 100 international judges and then by the Selection Committee where the final selection happens. So mark your calendars as you can expect an official announcement with the selected companies by the end of September!

And while that happens, after 12 hard working weeks we were also said farewell to our 10 amazing companies from Facebook Startup Hub Caribbean: Tech for Impact. That’s right! On Tuesday, August 6th investors and the business community got to hear from the Caribbean’s top Impact Startups as they pitched their endeavors. Hopefully we’ll be able to share the results of this collaboration and its impact on innovation in the region very soon.

Also in the news! With aims to expand high impact entrepreneurship in Puerto Rico, our parent organization, the Puerto Rico Science, Technology and Research Trust (PRSTRT), was granted the US Economic Development Administration’s (EDA) Seed Fund Support Grant.

So we’re happy to announce that said funds will go directly to our follow-up investment program P18Ventures with the purpose of creating an educational program for individuals interested in investing in high-impact companies in Puerto Rico. Subsequently, the idea is to launch a formal investment fund of at least US $10M that supports the growth of the technology and innovation ecosystem in the island.

Now let’s see what else have startups been up to. See you next month!

Startup highlights in a nutshell

• Gen.3 #P18Alumni TrueFace has raised US $3.7M from Lavrock Ventures, Scout Ventures and ADvantage Ventures to scale the team growing partnerships and market share.
• Gen.3 #P18Alumni Quiena Inversiones, the 100% online investment platform, closed an important agreement with the Chaco Stock Exchange (BCCH) to target the new generation of investors.
• Arkfund has invested in Gen.6 #P18Alumni ElegirSeguro’s Seed Round! The injection of capital will serve them to improve their product and soft-land in Mexico.
• Gen.2 #P18Alumni Brands Of Puerto Rico announced they’ve exported over 12,072 pounds of 100% Puerto Rican products around the world. All of this in just six months!
• Gen.4 #P18Alumni CamOnApp developed augmented reality experiences for the new Recoleta Cultural Center campaign #IMAGINÓDROMO in Buenos Aires.
• Gen.4 #P18Alumni Backstartup recently received an investment of US $800K by Regional.
• The Inter Press Service in Cuba highlighted P18’s participation at the Gibara Film Festival in Cuba where our Director of Operations, Lucas Arzola. He was part of an expo that gathered startups from our sister island, Puerto Rico and Spain. Read about what went on here.

THAT’S IT! 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. We’ll see you soon! Stay awesome, folks. (: