Grupo Guayacán Announces Application Period for SPRINGBOARD
SAN JUAN – Applications for Grupo Guayacán’s new startup program are open. SPRINGBOARD provides early stage entrepreneurs with the tools and resources to build investable ventures through a series of workshops, coaching sessions and the opportunity to pitch to investors at a Demo Day at the end of the program. Sponsored by the Small Business Administration’s (SBA) Growth Accelerator Fund Prize, it will be delivered in partnership with the Angel Resource Institute (ARI).
The program will kick off Aug. 27 with workshops every other week and ongoing deliverables and coaching. SPRINGBOARD concludes with a Demo Day in December, where top startups will pitch their ventures to a panel of local and international early stage investors. At Demo Day, startups will also compete for up to $50,000 in equity-free seed capital from GGI.
The program’s curriculum will include six workshops, three coaching sessions, one-on-one mentoring opportunities and pitching practices. During the program, startups will be taught to look at their ventures from an investor’s point of view, understand what they need in place before considering raising capital, and get an inside look at everything that goes in to pitching, negotiating and structuring a deal with investors.
ARI is a nonprofit organization founded as part of the Kauffman Foundation’s efforts to promote and support angel investors. Its vice chairman, Troy Knauss, will be SPRINGBOARD’s lead instructor. ARI’s co-chair, Susan Preston, will join Knauss as co-instructor for SPRINGBOARD. Preston is a world-recognized expert in angel financing, published author, and partner in various early stage funds.
“At the Angel Resource Institute, we are proud to strengthen our partnership with Grupo Guayacán to deliver this new program focused on getting startups ready to pitch to investors and raise the capital they need to launch and scale,” said Knauss, who has more than 20 years of entrepreneurial experience in startup, growth and family businesses, collaborates with a number of angel funds and networks, and is an active investor in multiple companies.
“SPRINGBOARD was designed to fill one of our ecosystem’s greatest gaps, investment-readiness education coupled with access to early stage risk capital. We are excited to continue our partnership with ARI in order to deliver world-class content around early stage investment and prepare our most promising startups to raise the smart capital they need to launch and scale global ventures from Puerto Rico. We invite high potential, innovative startups and graduates from the various entrepreneurial development programs in Puerto Rico to apply for SPRINGBOARD and take an important step towards scaling their ventures,” Guayacán’s executive director, Laura Cantero, said in the announcement.
In 2015, Guayacán was among the winners of the 2015 Growth Accelerator Fund Competition, a U.S.-wide initiative from the SBA that awards cash prizes to organizations that provide support to help startups become commercially viable. This funding allowed GGI to create and launch SPRINGBOARD.