50 entrepreneurs submit ideas at 1st Fase1 Intensive incubator DemoDay
The Fase1 program sponsored by the Puerto Rico Science, Technology & Research Trust, concluded the first edition of its incubator, Fase1 Intensive, with a DemoDay in which 50 entrepreneurs presented the business ideas that they worked on during the 12-week program.
During the event, in which each entrepreneur had four minutes to pitch their idea, market, and opportunity, the Science Trist presented several awards valued at $10,000 to the most outstanding participants.
The Top 3 Pitches category winners were: DronGo, Meliora Centrum and Crowned, which received $2,000 each. The $1,500 Innovation Award was given to DronGo. The Overall Favorite Award was awarded to Taste Buds Bakery, and the Commitment Award, which carried a $1,000 prize, was granted to Business Solutions Group, LLC.
All the program participants remained through the duration of the program, organizers said.
“We’re very excited to celebrate the achievements of this first generation of Fase1 Intensive. Seeing their ideas grow and develop over the weeks has been a pleasure,” said Bárbara Rivera-Chinea, director of Fase1.
“We were amazed to see the enthusiasm and how far they had already progressed in the topics using the Fase1 Lab modules. At Intensive, we received ideas in the development stage and were also able to guide already established companies to innovate. Each entrepreneur put everything they learned into practice,” she said.
“This DemoDay will be the event that launches many new ventures. As we mentioned when it launched, Fase1 Intensive is an essential program for people to take that first step and confidently enter the path of entrepreneurship,” said Science Trust CEO Lucy Crespo.
Meanwhile, two program participants confirmed that the incubator exceeded their expectations and allowed them to see their business idea coming to life.
“The Fase1 program has exceeded and continues to exceed my expectations. Every time we finished a session, I left super motivated and full of valuable information,” said Alexandra Castrillo, a participant in the program.
“The panelists and everyone who attended the sessions have been so inspiring. I loved being surrounded by so many people with the same desire and passion for their business,” she said.
Meanwhile, Myrnaly Sepúlveda, a participant from Ponce, said “I can see how my business is taking shape, and it has opened my mind to a world of how startups work that I didn’t know before. My work team and I are super excited and ‘pompeaos’ with this new stage, and it has helped us to unite more and see this project as something where everyone has something important to contribute.”
As the first-generation session ended, the Science Trust called on the island’s entrepreneurs to register in Fase1 Lab through the website to take the courses and apply for the second generation of Fase1 Intensive, which will be announced soon.