Puerto Rico startups secure funding at BE Fest competition
Puerto Rican entrepreneurs took center stage at the annual Boricua Emprende Fest (BE Fest), where 15 finalists competed in a small-business pitch contest that awarded $12,500 in cash prizes across three categories.
The event, held at the Puerto Rico Convention Center, highlighted local talent and innovation as part of a broader initiative by Mastercard, Rural LISC and Nest to support small businesses.
Winners were divided into three categories. In Art With Purpose, Tropi Shack won first place, followed by Kawaii Con PR and SanArte con Rosa. In Puerto Rican Flavor, ¡Qué BOLLO! took the top spot, with La Wagon and Del Palo al Pote placing second and third. In Ideas With Impact, Ciegos con Visión placed first, followed by PIVET and Milo.
First-place winners received $1,800, second-place winners $1,000 and third-place winners $800. One top winner will also be selected for the Golden Hive Award, which carries an additional $1,700 and in-kind mentoring from Visions Bridge.
“Rural LISC is thrilled to continue our commitment to enhancing opportunities for small businesses in rural communities, including those across the island,” said Nadia Villagrán, vice president of LISC and director of Rural LISC.
“At Mastercard Puerto Rico, we are dedicated to driving the island’s digital transformation not only through innovation but by forging strong partnerships with local entrepreneurs and business incubators,” said Pablo Cuarón, Mastercard’s country manager for Puerto Rico.
He said the collaboration helps small businesses “access essential resources, scale their ideas and achieve sustainable growth.”
This year’s pitch contest drew more than 120 applicants, underscoring the demand for programs that connect startups with capital and expertise. Finalists were judged on their ability to identify and address business problems, their potential for profitability and the quality of their presentations.
Lucy Crespo, CEO of the Puerto Rico Science, Technology and Research Trust, which hosted the event, noted the importance of BE Fest as a platform for growth.
“In this seventh edition, we reaffirm our commitment to innovation, collaboration and economic development in Puerto Rico, creating a space where ideas become real opportunities,” she said.
Rural LISC’s business development network includes Colmena66, Fase1, Causa Local, Centro para Emprendedores, Grupo Guayacán, The Enterprise Center at PathStone, the National Puerto Rican Chamber of Commerce and Jump All In! by Lote23.
Mastercard Strive, a philanthropic initiative of the Mastercard Center for Inclusive Growth, has reached 1.7 million small U.S. businesses, with Puerto Rico increasingly benefiting from the support.
