Tuesday, August 11, 2020

Grupo Guayacán Announces Grant to Support EnterPRize Participants Affected by COVID-19 Crisis

By on April 14, 2020

Laura Cantero, executive director of Grupo Guayacán (Courtesy)

Call for EnterPRize 2020 Remains Open Until April 30

SAN JUAN — Considering the dire situation that many small businesses are facing in Puerto Rico given the COVID-19 crisis, Grupo Guayacán announced that it will award a $1,000 cash grant to all emerging companies selected to participate in the EnterPRize 2020 business competition.

EnterPRize provides Puerto Rican startups from diverse industries access to a robust educational curriculum, mentoring, coaching and the opportunity to compete for awards exceeding $200,000 in seed capital. The special cash incentive is an additional prize for all participating teams.

“We are facing a new reality that requires using all the tools at our disposal to support our small and medium businesses. For 15 years, EnterPRize has been one of the main growth platforms for emerging businesses in Puerto Rico, and each year we update our offering to make sure it is aligned with our entrepreneurs’ needs. This year, thanks to our sponsors’ unconditional support, we are proud to offer this cash grant to all participants. We trust that these funds will help them cope with the difficult economic situation they face, given the interruption to their regular operations caused by the COVID-19 pandemic” explained Laura Cantero, executive director of Grupo Guayacán.

The call for EnterPRize 2020 is open until April 30. Those interested in participating must complete an online application through the YouNoodle platform using the following link: http://bit.ly/enterprize2020app.

Guayacán is looking for emerging companies with early sales traction, significant market potential, and a solid experienced team. To be eligible for participation in EnterPRize 2020, teams must: 

  • have an original project
  • be based in Puerto Rico
  • have less than $500,000 in sales and less than $100,000 in liabilities
  • have been in operations for less than 6 years
  • bring a team with at least two members participating in the program

This years’ competition features a new track prize structure focused around 6 pillars or themes, each featuring over $20,000 in cash prizes sponsored by corporate partners and local foundations:

  • Agribusiness & Food: $20,000
    Sponsored by Puerto Rico Farm Credit and Walmart Puerto Rico
  • Arts & Culture: $20,000
    Sponsored by Fundación Ángel Ramos and Fundación Flamboyán para las Artes
  • Health Innovation: $20,000
    Sponsored by MCS Foundation
  • Innovation and Technology: $30,000
    Sponsored by Liberty Puerto Rico, Ferraiuoli LLC, Assurant and Firstbank
  • Social Impact: $25,000
    Sponsored by Popular, Grupo Ferré Rangel, Causa Local and ConPRmetidos
  • Women Entrepreneur: $23,750
    Sponsored by Titín Foundation, TOTE, Aerostar Airport Holdings, Familia Díaz Rivera and Oriental Bank

In addition to the six pillars and the special incentive, the Puerto Rico Chapter of Entrepreneurs’ Organization (EO) will sponsor the fifth annual Student Entrepreneur Award. This prize includes $3,000 in seed capital and the opportunity to represent Puerto Rico at the Global Student Entrepreneur Awards (GSEA) in 2021.

Also, Guayacán offers the 3 main prizes of the competition: $25,000, $15,000 and $10,000, respectively. These three top winners will also receive billboard space for their startups sponsored by bMedia Group.

To learn more about Grupo Guayacán, visit www.guayacan.org.

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