Grupo Guayacán Inc. (GGI) announced the start of the finalists’ phase of the 2018 EnterPRize Competition.
A group of 20 local start-ups were selected to continue as finalists and compete for $138,5000 in seed capital prizes granted by GGI and its sponsors. This is the largest amount of total prizes available in the competition’s 13-year history, officials said.
The organization also announced that it has been selected as a grantee of the Massachusetts United for Puerto Rico Fund (Fund), a collaboration among The Boston Foundation, the Latino Legacy Fund, and leaders of the Puerto Rican community in the city of Boston. The fund was created in September 2017 to support the relief and recovery efforts in Puerto Rico after the devastating impact of Hurricane María.
The new grant will allow GGI to offer cash grants of $2,000 to each of the 20 EnterPRize finalists to support their recovery and long-term resiliency. The funds may be used for operational capital, property and equipment, among other uses. The Fund will also sponsor a new Special Track Prize totaling $2,500 for the start-up that demonstrates outstanding resiliency in overcoming challenges brought on as a result of the hurricane.
The 2018 EnterPRize finalists are: 8bit Bosses Studios, Agro Empresa Black Belt, Alba Enid, ASLAMAR, Cinco, Equinoterapia Puerto Rico, Grupo VESAN, GuardDV, H2O-NO, Lattuga Organics, Local Guest, Ni|Beachwear, ON App, Pumped Fuel, Spoon Food Tours, TERE FOODS, True Leaf Farm, UnderstHand, Zealaway, and ZOMIO. Finalists will participate in a rigorous 14-course educational curriculum offered by local instructors and visiting speakers from the Angel Resource Institute (ARI), as well as coaching and mentoring opportunities.
EnterPRize 2018 is made possible thanks to the support of a group of sponsors, including: BMedia Group, Caribbean Produce Exchange, Codetrotters, Puerto Rico Trade & Export Company, Entrepreneurs’ Organization Puerto Rico Chapter, Ferraiuoli IP, First Bank, Friends of Puerto Rico, Integro Success Unlimited, Kingbird Innovation Center, Liberty Puerto Rico, MCS Foundation, Piloto 151, Popular, the Puerto Rico Industrial Development Co., Puerto Rico Coffee Roasters, Puerto Rico Farm Credit, The Bio Economy Group, Titín Foundation, and Tote Maritime.
Competition winners will be announced during the Guayacán awards ceremony to be held Dec. 13 at the Puerto Rico Museum of Art.