Facebook and accelerator parallel18, an initiative of the Puerto Rico Science, Technology, and Research Trust, are partnering to launch “Startup Hub Caribbean,” a program that will support 10 technology startups that have outsized social impact potential and are focused on improving the lives of communities across the Caribbean.
Startups selected for the program will receive support to scale their efforts and improve their products and services, to better tackle the fundamental challenges facing the region, as well as scale internationally, representatives from both entities said.
Facebook will provide technical support, mentorship, training on the use of Facebook products and tools, free access to a suite of products and services, and access to dozens of experts within the company.
“Technology startups have an incredible potential to transform the community, which is why we believe in supporting the entrepreneurs of the Caribbean to drive sustainable development in the region”, expressed Susana Tuli Cipriota, Facebook’s head of developer programs for Latin America.
The program will also provide startups support from other mentors, a space for operations during the term, thematic workshops, access to a network of top-tier experts, investors, and other partners of parallel 18.
Startups with the following characteristics should apply: a for-profit enterprise with an established base of operations in the Caribbean, less than four years since date of incorporation, have a product/service; generating revenue in the market, whose focus is on generating value for the Caribbean region; and, are looking to expand internationally.
The product or service should also address one of the following social impact issue areas of importance to the Caribbean region: gender equality, decent work and economic opportunity, sustainable industry or infrastructure, climate change, and/or peace, justice, and strong institutions.
“For the parallel18 team, this collaboration is a dream, because we know the amazing work happening across the Caribbean, and we’re excited to support them to scale and translate their success to other markets,” said Sebastian Vidal, executive director of parallel18.
“We know the potential that technology innovation has to transform our island communities and drive sustainable development for Puerto Rico, and the region, where we have been operating now for more than three years,” he said.
The application window for the accelerator program will be open through April 18th. Ten startups will be selected by a panel of experts and will receive their invitations to the accelerator in May.
Interested startups can find more information HERE.