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Fase1 Intensive program launches 3rd generation with 50 new entrepreneurs

The Puerto Rico Science, Technology and Research Trust supports innovative local startups with its new business incubation program.

The Puerto Rico Science, Technology and Research Trust’s Fase1 entrepreneurship program recently celebrated the launch of its business incubation program, Fase1 Intensive, now in its third generation. 

The program kick-off marks a new chapter for 50 local entrepreneurs from 18 municipalities across the island who are aiming to develop their business ideas. The first session took place at the Forward Center, the trust’s new building. The trust’s entrepreneurship initiatives include Fase1, Colmena66, and parallel18. 

This cohort features innovative ideas mainly for products, services and applications in health care, social assistance, manufacturing and creative industries. The group is predominantly led by women, making up 58% of participants, and millennials but is represented across multiple industries and generations. 

“This year has brought many new developments, an expanded team and a new home at the Forward Center, which will allow us to offer each participant personalized assistance while they develop their idea,” Fase 1 Executive Director Bárbara Rivera-Chinea said. “We have also incorporated new tools to strengthen individualized mentoring so these business ideas can emerge polished and become successful ventures both inside and outside of Puerto Rico. We are sure that the next 12 weeks will be full of learning and growth for everyone in Gen.3.” 

Fase1 Intensive Gen.3 will run through September and conclude with DemoDay, where participants present their minimum viable products (MVP) after developing their ideas through workshops, personalized sessions and other incubator resources. 

Lucy Crespo, the trust’s CEO, said, “At the trust, we are very pleased with the success of Fase1 Intensive. Programs like this help facilitate the development of Puerto Rico’s economic future. We are eager to see what this third generation of the incubator will offer, especially as it is the first to be held in our new Forward Center. The trust remains committed to each of the projects that emerge from this and other programs within the organization’s entrepreneurship pillar.”

Since launching its first generation in 2022, Fase1 Intensive has incubated 96 “boristartups” – a portmanteau, combining “boricua,” a term for Puerto Rican, and “startups” across 32 municipalities. The program’s influence has been significant, with 45% of graduates in pre18 Gen.6, parallel18’s business pre-acceleration program, having also graduated from the first two generations of Fase1 Intensive. 

“We have worked with so many people eager to start their own businesses that giving our 200% to see them grow is immensely satisfying,” Rivera-Chinea added. “Most founders have been employed while participating in the incubator, and this year is no exception with 74% of participants who are currently employed or self-employed. Holding the program’s sessions on Saturdays through a hybrid model has greatly contributed to the participants’ success. Aiding them to fully transition into entrepreneurship is a great point of pride for our team.” 

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