Parallel18 launches pilot investor education program and Ventures App
Parallel18 announced a pilot virtual education program for prospective investors with the fundamental knowledge to put their money into startups.
The organization also revealed the launch of the digital platform Ventures App, which will provide access to an active relationship between international and local investors that can connect with the program’s alumni that are raising capital.
The educational curriculum, which will last six weeks, will cover the essential topics about investing in startups: how to define an investment strategy, understand the startup business ecosystem and all the elements involved in practice and decision making when investing in a startup.
Initially, as a pilot program, it will be offered to a small group of participants interested in learning more about the topic and eventually will be available for the public the upcoming year, the entity confirmed.
During the program, the participants will attend the pitches of startups alumni and the current cohort of companies.
“This pilot educational program will then become a recurring parallel18 program; in which a call will be opened for all those interested in learning about investment in startups,” said Hector Jirau, director of Operations, and Investment at parallel18.
“It’s important that the person who wants to invest in a startup knows the basics of investment, from the legal and tax fields to the fundamental and unique concepts to the investment process. We know that the information provided will be of great benefit to each participant,” he said.
As for the digital Venture App, its goal is to connect the organization’s network of investors to the alumni of parallel18 who are raising capital, to “facilitate an introduction between them as well as improve their connections and relationship,” the organization stated.
The application will display all the information of the companies graduated from parallel18 while maintaining an active network.
“We’re calling on all active investors on the island to contact us to be part of our network. Parallel18 has more than 338 companies graduated from its P18 and pre18 programs and many of them are looking to raise capital,” Jirau said.
“What better way to give them exposure and access to capital than with this tool that will make them visible to our network of investors and give them the opportunity to make agreements with them,” he said.
Meanwhile, Lucy Crespo, CEO of the Puerto Rico Science, Technology and Research Trust — parallel18’s parent organization — said these initiatives “are of great benefit to both the startup community and the investor network that supports them.”
“First, it’s an excellent investment education opportunity offered to everyone who wants to start investing in a startup and secondly, we are giving visibility to the alumni companies that need investment when raising capital,” she said.
“In the Trust, we continue with the feat of promoting the economy of the island through specialized education and this is a great example of our mission,” said Crespo.
The program will target finance professionals who are responsible for finding or selecting investment funds or companies to invest in, service providers such as lawyers and accountants who often work with investors, executives in large companies, government officials committed with attracting investment activity to the island, and professionals with private investment funds.