46 business ideas shine at Fase1 incubation program Demo Day event
More than $10,000 in prizes were awarded to the most outstanding proposals from the third cohort of Intensive.
A total of 46 projects were presented during the third generation of the Fase1 incubation program, an initiative led by the Puerto Rico Science, Technology and Research Trust, at its Demo Day held over the weekend at the Universidad Ana G. Méndez, Carolina campus.
The new wave of entrepreneurs represented 18 municipalities across the island, including Aguadilla, Ponce, Río Grande, Cayey and San Juan. Women made up 58% of the cohort, while 54% were classified as low and/or moderate income, as defined by the U.S. Department of Housing and Urban Development (HUD).
This Demo Day marked the culmination of the third cohort of the Fase1 incubation program, part of the Small Business Incubators and Accelerators Program of the Puerto Rico Department of Housing, funded by Community Development Block Grant-Disaster Recovery grants.
Each participant had four minutes to pitch their business ideas, with the trust awarding a total of $10,000 in prizes to the founders with the most outstanding proposals.
In the Best Pitches category, the winners — each receiving $2,000 — were Luz Bonilla from Parques Imaginarios, José González from Clear Health and Stephanie Trinidad from Pegao. They will also receive coworking space at Spece, valued at $250.
The Innovation Award, with a prize of $1,500, was given to David Hermina from Inflektion Labs, while Amanda Montagner from Amma Club won the $1,500 Overall Favorite award, based on audience votes.
Montagner also won the Commitment Award, a $1,000 prize for participants with perfect attendance, and Zaimarie Carrillo from Renuevaisla received a $250 prize from DECA Analytics for completing the Entrepreneurial Bingo.
“It feels like just yesterday that we started with Fase1 Intensive, and we have already completed our third generation,” said Bárbara Rivera-Chinea, Fase1 program director.
“We continue to be amazed by the enthusiasm, innovation and entrepreneurial spirit shown by the people in Puerto Rico,” she said. “We saw it week after week in each session, and they confirmed it once again by standing in front of the audience to present their business ideas. We firmly believe in the potential of each participant to push their projects beyond success.”
Rivera-Chinea also highlighted new features introduced this year: “This generation of Intensive had the opportunity to take the sessions at the trust’s new Forward Center, working hand in hand with our team and with the support of more than 35 mentors.”
She emphasized that Fase1 is a comprehensive program, with the online academy available year-round: “Fase1 Lab is the first step to apply for Intensive. It is entirely free and online, currently offering nine modules of business education content in Spanish, providing those who wish to start with the necessary boost to validate and develop their business ideas.”
Those interested in joining the Fase1 community can register at any time. The call for the fourth generation will open early next year.
“It’s an honor and great satisfaction to witness the transformation of each business idea developed in this third generation of Fase1 Intensive,” said trust CEO Lucy Crespo.
“What’s even more gratifying is the number of people who are encouraged to undertake projects and are committed to Puerto Rico’s economic development. At the trust, we are fully committed to continuing to support and drive projects that promote innovation and economic growth on our island,” Crespo added.
