FCC opens $504M funding window for telecom upgrades in Puerto Rico
August 10, 2020
The Federal Communications Commission announced it will accept proposals from telecommunications companies in Puerto Rico to receive funding from the “Uniendo a Puerto Rico Fund.” The fund has $504.7 million available during a 10-year period to support fixed broadband projects by companies in the Puerto Rico market. Another $186.5 million is available under the Connect […]
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Integro Foundation joins effort to raise $1M, donate 200K masks in Puerto Rico
August 10, 2020
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 […]
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Fundación MAPFRE opens $283K grant cycle for health research projects
August 10, 2020
Fundación MAPFRE has launched a new edition of its research grant program worth a total of $282,523, aimed at researchers and research teams in both the academic and professional world that wish to develop research programs independently or within the area of the universities, hospitals, companies or research centers they belong to. The Foundation offers its Ignacio […]
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Liberty Puerto Rico reports $109M in 2Q20 revenue, up 5.1% Y-O-Y
August 7, 2020
Lifted by efforts to help residential and business customers navigate the COVID-19 quarantine and lockdown, Liberty Puerto Rico reported $109 million for the second quarter, a 5.1% increase compared to the same period in 2019, and a 4.3% jump over the first quarter in 2020. The financial results showed that Liberty added 33,500 revenue generating […]
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Thoma Bravo sells Ellie Mae to Intercontinental Exchange in deal worth $11B
August 7, 2020
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 […]
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Congressional bill promotes turning Puerto Rico into manufacturing hub
August 7, 2020
Puerto Rico’s Resident Commissioner in Washington Jenniffer González and Florida Sen. Marco Rubio introduced H.R. 7577, a bill that would help boost Puerto Rico’s economy and position the island as a “hub,” or national production center, of medical equipment and drugs. This bicameral initiative encourages companies that are currently producing pharmaceuticals and medical devices abroad, […]
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Colecturía Digital Móvil app launched to sell Treasury Dept. vouchers
August 7, 2020
A new application called the Colecturía Digital Móvil was recently launched to ease the purchase of Treasury Department payment vouchers required for dozens of government transactions, particularly at the Department of Transportation and Public Works’ Drivers Services Office (CESCO). Once the mobile app is downloaded, the user registers, selects the agency that requires the voucher, […]
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Passenger traffic at LMM airport drops 62.4% Y-O-Y in July
August 7, 2020
Passenger traffic at Luis Muñoz Marín International Airport dropped 62.4% year-over-year in July, affected by “severe downturns in business and leisure travel stemming from the COVID-19 pandemic,” Grupo Aeroportuario del Sureste confirmed. In July, a total of 363,935 passengers arrived at the LMM, which is operated by Grupo Aeroportuario del Sureste’s local subsidiary, Aerostar Airport […]
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CBP San Juan Seizes 600 sets of counterfeit Apple AirPods
August 7, 2020
U.S. Customs and Border Protection (CBP) San Juan Field Operations announced the seizure of 600 sets of fake Apple AirPods imported into Puerto Rico from Hong Kong via mail. Had these goods been genuine, the estimated manufacturer suggested retail price would have been about $119,400. During the month of June, CBP seized another 560 fake Apple […]
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Foundation for Puerto Rico, Clinton Foundation join forces to help small businesses
August 7, 2020
Foundation for Puerto Rico has joined forces with the Clinton Global Initiative Action Network to conduct a virtual series of Educational Seminars on Resilience Small Business in Puerto Rico, comprising four virtual workshops focused on increasing the economic resilience of small businesses, the nonprofits said. “As the COVID-19 pandemic continues, nonprofit organizations, the government, entrepreneurs, […]
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Albizu University gets federal injection for scholarship program
August 7, 2020
Psychology students interested in pursuing graduate studies at the Albizu University San Juan Campus and its Clinical Psychology program could benefit from new financial aid, the college announced. The institution has received approval from the U.S. Health Services and Resources Administration (HRSA) to admit students to its Scholarships for Disadvantaged Students program. The scholarship will […]
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Puerto Rico Treasury reports $9.3B in Fiscal ’20 revenue; OBoard says it’s incomplete
August 6, 2020
The Puerto Rico Treasury Department reported that the preliminary revenue for the General Fund during the 2019-2020 fiscal year totaled $9.3 billion. Although the collections of the last two quarters of this fiscal year were affected by the earthquakes and the COVID-19 pandemic, they exceeded the revised Financial Oversight and Management Board for Puerto Rico […]
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AeroNet partners with Facebook Connectivity to launch Wi-Fi service in Old San Juan
August 6, 2020
Puerto Rico-based business internet service provider AeroNet this week launched a new, advanced Wi-Fi service in Old San Juan, in partnership with Facebook Connectivity. The new service is powered by Facebook Connectivity’s Express Wi-Fi platform, which will enable AeroNet to provide its Wi-Fi service in a sustainable and scalable way, and Terragraph, a gigabit wireless […]
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Local entrepreneurs launch V-Market online vegan grocery store
August 6, 2020
Entrepreneurs Christian Santarrosa and Jodelis Nieves announced the launch of V-Market, a Puerto Rico-based fully vegan virtual supermarket. The married couple has been developing the concept for more than two years and due to the pandemic, decided to initially launch an online supermarket. “We’re the first supermarket in Puerto Rico whose merchandise is fully plant-based […]
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University of Puerto Rico students win Enactus entrepreneurial competition
August 6, 2020
A three-student team representing the University of Puerto Rico in Río Piedras won the 14th edition of the Enactus Puerto Rico social entrepreneurial competition with a clean watering filtering system called “Remora.” The proposal is based on a machine designed to work with three different filters, which remove chemicals, bacteria, biological contaminants and microplastics from […]
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