Evertec Inc. and the Puerto Rico Science Technology and Research Trust announced the signing of a collaboration agreement with its start-up accelerator program, Parallel 18 (P18).
With this partnership, P18 will leverage many of Evertec’s assets as well as receive a cash investment that will be awarded to participants to foster the next generations of entrepreneurial companies.
“Technology and innovation are key elements for the competitiveness and success of businesses today. We are very excited about this partnership with the Puerto Rico Science Technology & Research Trust since it provides us with the opportunity to stay at the forefront of new business ventures and at the same time, add value to its P18 program and its participating companies from around the world,” said Guillermo Rospigliosi, executive vice president of product, marketing and innovation of Evertec.
Evertec will offer P18 participants many benefits such as:
- Investment to accelerate business’s development and launch
- Waiver of fees on payment products and services for each participant during the term of the program
- Expedited merchant account opening
- Participation of Evertec personnel as mentors and speakers at P18 events
- Opportunity for Parallel’s startup participants to pilot Evertec’s newest products.
“We’re very pleased with this new partnership with Evertec since it gives us the opportunity to leverage their great experience in technology and innovation” said Science Trust CEO Lucy Crespo.
“It should encourage our entrepreneurs to use technology to take advantage of opportunities in the market. This partnership is aligned with our mission of investing, facilitating and building capacities to continually advance Puerto Rico’s economy,” she said.