Parallel18 to host first ‘Virtual Demo Day’
Demo Day, Parallel18’s main event in which companies present their products and services before a panel of judges and investors, will take place April 3rd at 1 p.m., this time in a completely virtual way.
The event will be streamed through the Sceenic platform, created by past generation P18 participants.
“This generation has too much talent and we didn’t want to allow the current situation to prevent us from showcasing them,” said P18 Executive Director Sebastián Vidal.
“Demo Day’s objective is to give them the opportunity to present their solutions and create connections that will help them reach investments or find clients,” he said.
“In these times, many of our companies provide solutions to help addressing challenges brought by this moment. Likewise, we want to highlight an extremely diverse class that I’m sure will impress our audience,” Vidal added.
During the event, a total of 30 startups that reflect the diversity of this generation will present; 45% of the companies are led by women in industries ranging from food innovation to changes in retail, and the first two companies that have participated in the program focused on feminine sexual health.
Meanwhile, more than 10 investors will be connected to the presentation. The selected platform has a functionality for Breakout Rooms where people can enter virtual classrooms to create a connection between partners and entrepreneurs.
The general public that wants to tune in, can do so via Facebook Live through P18’s page.
“Great challenges lead to opportunities and drive innovation. We can do social distancing, but we’re not distant from creativity and entrepreneurship,” said Lucy Crespo, CEO of the Puerto Rico Science and Technology Trust, entity that spurred p18.
“Carrying out this event in a virtual manner is an example of how technology facilitates and brings the effort closer; it also makes visible the growth of the companies that finish their term with parallel 18 successfully, even at a moment like this,” she said.
To give extra support to these companies, three cash prizes will be awarded: $3,000, $2,000 and $1,000. The first two winners will be selected by the guest investors, while the Facebook Live audience, which will vote through the Survey Kiwi platform— created by Generation 5 P18 participants — will chose the third place winner.
These grants are meant to help recipients keep their businesses active during times of crisis, as the one currently underway due to the coronavirus COVID-19 pandemic.