Grupo Guayacán Inc. (GGI) announced the start of its annual call for applications for the 10th edition of the Guayacán Venture Accelerator (GVA), an entrepreneurial education and development program for established companies seeking new growth opportunities.
The GVA, one of GGI’s cornerstone entrepreneurship programs, was first launched in 2010 and is the only program in Puerto Rico designed to boost the growth of established companies with at least three years of operation.
Companies interested in participating in the GVA must complete an online application on or before June 1st. The program will take place from August to December 2018, and is sponsored by the Puerto Rico Industrial Development Company (PRIDCO).
Program applicants must demonstrate organizational capacity and commitment to design and implement an aggressive growth plan that may include: increasing local market share, entry to new international markets, and the development of new products or services.
The program provides a rigorous curriculum of advanced education offered by a group of distinguished academics, professionals, executives, and local and international investors.
“The GVA is a unique program that allows participating companies to profoundly analyze their business model with the goal of developing new growth plans to scale their local operations, and enter new international markets,” said Laura Cantero, Executive Director of Grupo Guayacán.
“We’re incredibly satisfied with the achievements of our program alumni and we invite business owners looking for new growth opportunities to accept the challenge and apply to the GVA,” she said.
During its run, the program has demonstrated significant success with 75 percent and 63 percent of its alumni reporting increased headcount and sales revenues, respectively, CGI confirmed. On average, GVA companies grow their sales by at least 30 percent after participating in the program.
In total, the 79 program graduates represent more than 6,000 jobs. Notable alumni in the class of 2017 include MedPlus Solutions, PeterPaul Electronics, Telecontacto and Huertas College, among others.
“The GVA gave us the tools to focus on the most critical parts of our business and rethink how we can grow. Now, we feel ready to take our company to the next level,” said Sultan Yassin, president of MedPlus Solutions.
The GVA allows company owners or presidents to participate alongside up to two members of their executive team, increasing the likelihood of successful implementation of their growth plans and strengthening the management team.
This year’s edition of the GVA will include 14 educational workshops, including renown instructors from Puerto Rico and abroad. Participants will also have access to mentors who will support them as they move towards implementation of their new plans.
Lastly, GVA companies will benefit from a series of coaching sessions where a group of distinguished entrepreneurs, investors, and professionals will offer their perspectives and advice.
These sessions also prepare the participants for the Guayacán Demo Day, where companies that are interested in raising capital will have the opportunity to present their growth plans in front of a panel of local and international investors.
GGI will offer an exclusive event on April 4th for companies interested in the GVA, with a presentation by Robert “Bob” Dávila, who has been a GVA Instructor since the program’s launch and is a former executive director of GGI.