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Op-Ed: Developing startups via tech innovation key to Puerto Rico’s progress

Technological innovations not only transform, evolve and improve certain products or services; they also drive economic growth.

To achieve such innovation, companies need to walk the talk and pave the road to success for other entrepreneurs in their economic landscape. 

Some actions in that direction include promoting good concepts, enabling support networks and providing adequate mentorship. Ultimately, the business ecosystem grows, creating a continuous flow of economic activity.

With the aim of promoting and contributing to the growth of new companies and startups, since 2014, FirstBank has been a sponsor of the EnterPRize business competition of Grupo Guayacán.

This year, we will recognize the best business idea presented in the area of ​​innovation and technology. We are looking for a new product or service that has a global focus from its inception and that offers an out-of-this-world positive experience for its target customer.

We’re searching for a technological innovation that will transform or evolve a certain product or service to make it the best. This is why this category is so valuable for FirstBank; we want to support the growth of entrepreneurs in Puerto Rico by forming alliances, such as the one offered within the EnterPRize competition.

We know that we all benefit when entrepreneurs grow and when we create an ecosystem of support.

These days, many innovative business solutions are implemented through technology. It has been shown, therefore, that companies diversify and that the road to success is paved when you have a good concept, networks of support, and the right mentors.

That’s what happens through EnterPRize, which is fully committed to cutting‑edge entrepreneurship, and at FirstBank, we recognize and value it.

After six years of supporting EnterPRize, we have a sense of partnership for this competition. We have witnessed the participants’ struggles and desires to make the most of this great opportunity to accept the next challenge as entrepreneurs.

Many have already gone through the training process and identified the seed capital they needed to grow their business, proving that participating in this competition brings about a wealth of top-of-the-line and first-rate experiences.

Author Catherine Ríos is Compliance and CRA Relationship Officer at FirstBank.

Ultimately, it’s all about finding common ground and working towards the same goal: building a better and more resilient Puerto Rico. In that process, cooperation and collaboration with our start-up ecosystem is key.

We encourage and invite entrepreneurs who want to fully develop their innovative business ideas to participate in Grupo Guayacán EnterPRize competition.

Together, established companies and startups can help build a better Puerto Rico that is more resilient, more supportive, and that has the economic and social stability we all yearn for. With FirstBank’s help, you will soon be “Empresarios de Primera!”

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This story was written by our staff based on a press release.

1 Comment

  1. Richard R. Tryon II July 28, 2020

    If the bank wants to help P.R. have low cost affordable housing and equally important low cost way to grow food in small land space, then our vertical aquaponic technology is the future all need to support. The greatest threat to both in P.R. is the hurricane. Our technology aims to let the wind blow through strong PVC heavy duty schedule 80 pipes, with easily removed fabric side walls. Yes, some more secure shelter for people and valuables requires a low profile to do what a tornado shelter provides, but building a concrete fortress vs tornados and hurricanes is too expensive to be affordable for those not able to pay.


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