The Community Development Venture Capital Alliance (CDVCA), a community development financial institution (CDFI) and player in the community development venture capital industry nationally, announced that local executive Myrna M. Rivera has been named to its Board of Directors. CDVA is the manager of two venture capital fund of funds, one of which is the $45 […]
Grupo Guayacán is looking for business ideas and future entrepreneurs who are eager to learn how to start a business in a short, yet intense virtual series of workshops. This will be the 11th edition of Grupo Guayacán’s I-Corps Puerto Rico (I-Corps PR) program, the idea validation boot camp to be offered online at no […]
We Connect, a local company that provides solutions and strategies for event production, announced its expansion and transition into offering services to a virtual world. Through the adoption of Virtway Events, a proprietary and global platform/technology that allows the coordination of any type of event in 3D format, the company becomes the first Virtway certified partner […]
Integro Foundation, a nonprofit organization established on the island in 2015, collaborated with Binance Charity to raise $1M and donate 200,000 KN-95 masks in Puerto Rico as part of the “Crypto Against COVID-19 Campaign.” A total of 500,000 masks are being donated to Brazil, Brazilian Amazon, South Africa, Bermuda, Barbados, St. Lucia, Dominican Republic, and Navajo […]
Thoma Bravo, a private equity investment firm founded by Puerto Rican entrepreneur Orlando Bravo, announced the sale of its portfolio company Ellie Mae to Intercontinental Exchange (ICE), in a deal worth $11 billion. Ellie Mae, based in Pleasanton, CA with approximately 1,700 employees, was founded in 1997 with a mission to automate and digitize the […]
The Musical Arts Corporation (CAM, in Spanish) and the Institute of Puerto Rican Culture (ICP, in Spanish) will collaboratively hold a series of keynote conferences called “Musical Factories,” to train and offer entrepreneurial tools to professional and developing musicians. This new training project will be an extension to the ICP Cultural Factories initiative, and participation […]
During the decade from 2010 to 2019, Puerto Rico lost 14% of its population. What forced Puerto Ricans to emigrate? On July 26, the first part of the “Beyond the Census: The Demographic Crisis of Puerto Rico,” premiered on the YouTube platform. The documentary series presents the factors associated with the emigration of Puerto Ricans […]
U.S. Customs and Border Protection San Juan Field Operations announced the seizure of 100 counterfeit Nintendo Mini Gaming consoles inside a parcel package coming from Hong Kong into the Rafael Hernández International Airport Cargo facility. The estimated manufacturer suggested retail price of the seized products is about $326,000, had the goods been genuine, the […]
The Paseo del Caño Sur Project in Israel-Bitumul was preselected by the Central Office of Recovery, Reconstruction and Resiliency, known as COR3, to access federal funds from the Hazard Mitigation Grant Program- Section 404 of the Federal Emergency Management Agency. If selected, the Paseo del Caño Sur, which requires an investment of $66 million, would […]
World Central Kitchen announced its fifth round of grants in Puerto Rico through Plow to Plate, the organization’s food security and resilience program that provides direct financial support to small farmers, fishermen, and food businesses. The subsidies granted support small businesses related to food production in an effort to regenerate their long-term capacity for the […]
A hybrid model that combines office work and remote work is the predominant trend among companies in Puerto Rico during the COVID-19 pandemic, according to a survey conducted this summer by Puerto Rican consulting firm Retention Strategies. The results showed that only a third (32%) of the companies surveyed have managed to fully reopen their […]
Nonprofit organization PathStone Enterprise Center Inc. announced the official launch of its Technical Assistance Program for Government Procurement, through which 150 small businesses in Puerto Rico will be trained free of charge to compete for contracts with the federal and state governments directly or as subcontractors. With a $3.8 million grant from the U.S. Economic […]
The Center for Economic Renewal, Growth and Excellence (CRECE, for its acronym in Spanish) unveiled the results of the 2019 Economic Freedom Index for Puerto Rico, which showed that the island ranked 69 out of 180 countries with a score of 64.4, representing an increase of 3.4 points vs. 2018. Based on The Heritage Foundation […]
Puerto Rican firm Isla Frio Refrigeration Corp. announced its acquisition of the former PepsiCo plant in the town of Cidra, which it will split into several areas for different services. In all, the firm invested $3 million in the property that closed down after Hurricane María pummeled the island in 2017. The property did not […]
ACRUVA Capital Partners announced it has entered the Puerto Rico market to lease, option, or buy land to develop affordable housing communities, as well as to acquire, rehabilitate and re-syndicate affordable housing communities in strategically selected markets. ACRUVA Capital Partners was formed as a joint venture with the support of Alliant Capital, its long-term financial […]
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