4th edition of Rising Entrepreneurs Program to pre-select 30 participants
The Bravo Family Foundation, a private nonprofit organization, announced the fourth edition of its “Rising Entrepreneurs Program,” of which they will pre-select a maximum of 30 candidates who will be invited to do a pitch presentation of their companies in late January 2023.
Later, a group of between 15 and 20 participants will be chosen to become part of this new edition and receive a $30,000 seed grant to help them develop their start-ups.
This business accelerator provides startup founders with the theoretical and mentoring tools that will allow them to effectively run their businesses in Puerto Rican and in global markets.
Business leaders from the island and advisors from Thoma Bravo, a private equity investment firms specializing in software, will be part of the team of professionals supporting the participants.
Participants will be instructed in business fundamentals concepts such as profitable growth, operational and financial structure, sales and marketing, key performance indicators, and customer retention. In addition, each startup will be encouraged to define its purpose to positively contribute to society.
“Our mission is to accompany participants throughout the cycle of growth of an entrepreneur, from technology and the tools they need when they start their dream of entrepreneurship, through the analysis of the idea and how it works with clients, as well as preparing them for the market, their business plan and provide guidance them on the alliances that takes them closer to their goals,” said Orlando Bravo, co-founder, and chairman of the Board of Directors of the Foundation and founder of Thoma Bravo.
“Driving the transformation of the ecosystem of entrepreneurs in Puerto Rico and assisting them in each stage of their growth journey, to innovate and scale their business globally, is what I want to achieve as their mentor,” said Bravo.
Startups interested in participating in the program must complete the online application on or before Nov. 30.
The program lasts six months and features two components; an intensive educational phase that extends for 10 weeks at the Foundation’s business center in Mayagüez, followed by a mentoring period focused on executing the strategies.
Later, the start-ups will make a presentation to a leading entrepreneurship jury, of which three candidates will be selected and awarded an additional grant, and two other special recognitions for their social impact and development of international markets, respectively.
The selection criteria include proficiency in technical skills, a business model aimed at innovation and growth, market proof, and a commitment to promoting a positive social impact on the Island.
The finalists to compete for a space in the 2023 edition will be announced in early December.