Startup.pr opens call for applications to its tech business pre-seed funding program
Business accelerator Startup.pr has opened a call for local innovators with technology-based projects to apply to the sixth edition of its Pre-Seeding Program by Aug. 8.
Winning participants will receive training, prototype design consultancy services, and $5,000 each, said Amaury Malavé, Innovation and Technology Complex director.
Six early-stage technology projects will be selected for this sixth edition of the Pre-seeding Program, which begins Sept. 27. These projects must meet all the program’s requirements, said Malavé.
“The program’s main purpose is to provide financial and technical assistance to entrepreneurs, researchers, and inventors in the development and marketing of their innovative products. We want to support them because, although they are creating innovative ideas, they don’t have all the necessary resources or the right environment to set up their businesses,” Malavé said.
The program offers 12 weeks of training on entrepreneurship topics, weekly tutoring and coaching sessions, technical and scientific assistance, intellectual property protection, prototype development and construction, funding opportunities consulting, office and workshop areas, the opportunity to participate in future acceleration programs, and seed funds.
Startup.pr — an initiative supported by the Ana G. Méndez University and the Puerto Rico Science, Technology and Research Trust — accepts proposals in three cycles during the year.
Since its inception, the business accelerator has been able to help 47 businesses and have contributed $1.5 million in seed capital and services, Malavé confirmed. Participating companies include Isla Caribe Tours, Zero Damage, Gardien Alert, Salón Boricua, Giftfully, ElectRide, Sunne Labs, Novel Biomed, Conserv a Temp, Doc Mimi, and Digital Media Creations, among others.
Malavé said another advantage of Startup.pr is that it has established collaborative agreements with multinational corporations and governmental agencies, they work in collaboration with Puerto Rico’s entrepreneurship ecosystem, and they have a network of service providers specialized in different areas, as well as access to world renowned researchers and experts. They also provide laboratories and specialized equipment.
Applicants to the new edition of the program must be entrepreneurs with a technology-based project and must have an official representative in Puerto Rico.
Furthermore, they must be in an early stage of their project idea and must have undergone a business validation or education process, whether from a university, a program, etc. Other requirements include having a non-functional concept, scale model, or prototype and not having received funds from any other similar program.
Selected applicants must be available to participate in all the workshops, consultancy sessions, and other required activities. Seed funds must only be used towards consulting services, product development, validation, or any other aspect related to the project’s development. The use of funds to cover founders’ salaries or stipends is not allowed.