Parallel18 Holds DemoEvent, Confers Awards
SAN JUAN – Business support initiative Parallel18’s pre-acceleration program for Puerto Rican startups, pre18, graduated its third cohort during its two-day DemoEvent, during which 40 local companies presented their products and services as well as their achievements.
The program, which is part of the nonprofit Puerto Rico Science, Technology and Research Trust‘s (PRSTRT) mission to promote the investment and financing of innovation, wrapped up with two days of virtual presentations that allowed local companies to demonstrate their progress, growth and business development to launch their products or seek investment.
Bana, HALLÒ App, Maranta Power, Recovery+, Corewell, Patria Tours, Vive la Van, Seed Law LLC, Materia Madura, Don Rifa, Piloto Mail, Pintá, Paperwork, RumRatings, VeoVeo, TerraFirma, BOON AutoParts, Löfte Natural Care, and Pryze were among the startups that presented on the first day.
During the second day, the audience witnessed pitches by Little Things, Genzier, VITAL, GearPrices, BASED LLC, Cuela, Zeerez, Evocare, Remora, Poltags, A MEDIAS, Caproni, Cacao 360, Salón Boricua, CRANEeH, 9 millones, Vestigium Environmental, TALE, Equal Love, Arrecife Beachwear and VitaRx.
“Once again, Puerto Rico showcases the pool of high-quality entrepreneurs, with innovative products and services who want to keep moving their businesses forward and contribute to the economic development of the island,” said Lucy Crespo, the science trust’s CEO. “The Puerto Rico Science, Technology and Research Trust’s goal is to invest, facilitate and train through science and technology all of these companies that are innovation-driven and, therefore, promote an economy of value on the island,” she added.
“Gen.3 has been a big, hard-working cohort. While we continued in a virtual format, these companies showcased their greatest potential due to the pandemic. The situation didn’t diminish their commitment; on the contrary, they got stronger and more creative as they carried out their projects. Thanks to the parallel18 team efforts, the mentoring and education the startups received, and the collaboration between them made it possible for them to achieve the objectives set while applying all the knowledge learned to launch their products. These startups are a very diverse and diligent group. Many of them are ready to grow, and connect with potential clients, partners and even investors,” said Eduardo Padial, parallel18’s operations director.
“As parallel18’s pre-accelerator program, pre18 involves a hands-on curriculum that requires achieving weekly goals with growth and scalability objectives set at the beginning of the program. The commitment made by these entrepreneurs to achieve them is remarkable and today we saw the results,” Padial added.
The event included several awards. TerraFirma, a digital platform for ecologic and urban planning, won the Aeronet High-Speed Award, which comes with a year of free internet service provided by Aeronet. The company has been a parallel18 sponsor for the past three years.
The People’s Love Award, voted on by the public, was given to LOFTE, Salón Boricua and Don Rifa, which received $2,000; $1,000 and a Café Global Membership for one year at coworking network Piloto 151.
Meanwhile, Platzi, the largest platform for virtual educational content in Spanish, sponsored the Mentored Engagement Award, which granted 10- one-year licenses for 10 pre18ers to access courses on their online platform. Platzi provides more than 600 online courses in programming, business development and social media strategies, among others. POLTAGS, Materia Madura, Pintá, Salón Boricua, HALLO App, Remora, CRANEeH, Maranta Power, Equal Love and Pryze will receive the prize. These had the greatest number of interactions with mentors and the parallel18 team. The interactions were measured through an internal platform used by the program.
Before the DemoEvent, all the startups participated in a 12-week training and mentorship curriculum and received $20,000 equity-free funding.
The next open call for parallel18 will be for P18’s Gen.9, the acceleration program. Applications open April 5. For more information about P18, visit parallel18. For more information about parallel18’s programs, email email@example.com or schedule an appointment here.