Award Amount
$40,000 USD
Location
San Juan, Puerto Rico
Length
5 months
Benefits
- $40,000 USD per team
- Co-working space in a vibrant and urban environment, with super-fast internet, a few blocks away from the beach
- A complete support system and acceleration program, with high-level resources and access to a global network
Who Can Apply
- Must have a prototype for a globally scalable business
- 1 team leader and up to 2 team members per application
- Company cannot be more than 3 years old
- Must be a US or Puerto Rican incorporated company
- If your company is not incorporated in the US or PR, you may still apply, and Parallel18 will help you incorporate at the beginning of the program
- Applicant must be over 18 years old
Selection Criteria
- Globally minded startups looking to start or expand business in Puerto Rico
- Concepts which have been validated and are looking to scale operations
Application Evaluation
- Product or Service (30%)
- Market and Competitive Positioning (30%)
- Team Mix, Qualification & Experience (30%)
- Dedication and Focus (10%)
Application Process
- Written application on YouNoodle platform
- Recommendation letter
- 3 minute pitch video
Conditions
- Team leader/beneficiary must be full-time dedicated to the startup
- Team members (besides Beneficiary) are NOT required to live in PR
- Team members (besides Beneficiary) are NOT required to work full time on the startup
- Company must be willing to incorporate in US or Puerto Rico
Follow Up Funding
- Puerto Rico Science and Technology Trust that matches capital raised (up to US $75K)
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