The Bravo Family Foundation — a philanthropic entity founded by Puerto Rican businessman Orlando Bravo — announced an open call for its Rising Entrepreneurs Program, one of the foundation’s key initiatives, that promotes entrepreneurship among Puerto Rican youth.
Those interested in participating must fill the online application no later than Friday, Dec. 6, 2019.
“This program will help maximize the entrepreneurship potential in Puerto Rico, especially among young adults. By identifying, funding, and mentoring emerging entrepreneurs that participate in our programs, we will help set the stage for the island’s long-term economic success” said Orlando Bravo, managing partner of private equity firm Thoma Bravo and founder of the Bravo Family Foundation.
The Rising Entrepreneurs program promotes a dynamic process to test, measure and introduce products and services to the market. It will also support teams that are in early- or mid-stage phases of developing a technological service or product, in order to create a more inclusive and sustainable tech ecosystems in Puerto Rico.
Its objective is to spark business creation among recent graduates and young professionals of Puerto Rican heritage, living in or willing to move to Puerto Rico. The program will prioritize companies that are currently creating technological and innovative ventures and will focus on the basics of how to run an effective business.
The foundation will open applications annually, and those who are selected will receive a one-time seed grant of $30,000; access to committed mentors; individualized attention from experts; and access to Bravo’s Mayagüez-based office hub throughout the duration of the program, from February to May 2020.
“We are excited about offering this high-quality educational opportunity, in which Puerto Rican entrepreneurs will be able to connect with dedicated mentors and specialized resources that will help them strengthen their ideas and business savvy. Puerto Rico has a huge pool of human talent with great potential. Through this program we hope to join and support a business ecosystem that is both inclusive and sustainable” added Guiomar García-Guerra, executive director of the Bravo Family Foundation.
The 10 winning teams will be announced in January 2020. The program will begin in February and end in May 2020.