Parallel18

Parallel18 is an international innovation hub and accelerator program based in San Juan, Puerto Rico. Launched in 2015 as a government-backed initiative, its core mission is to foster economic development by attracting and nurturing high-impact startups with global potential. The program provides a comprehensive suite of resources, including funding, mentorship, business connections, and access to a vibrant entrepreneurial ecosystem, positioning Puerto Rico as a strategic gateway for innovation in the Caribbean and Latin America.

At the heart of Parallel18's offering is its flagship accelerator program, which provides selected startups with a substantial non-dilutive grant. Each company accepted into the program receives a fixed grant of $40,000, designed to help them cover operational costs, develop their product, and scale their operations during the five-month intensive program. This initial financial injection is complemented by a robust curriculum, one-on-one mentorship from experienced entrepreneurs and industry experts, and extensive networking opportunities with local and international investors, corporations, and government entities.

Beyond the initial grant, Parallel18 offers an optional follow-on investment opportunity through its P18Ventures fund. This fund is designed to support program alumni who successfully raise external capital after completing the accelerator. P18Ventures matches external funding, investing up to $75,000 per company through a Simple Agreement for Future Equity (SAFE). As of early 2023, P18Ventures had deployed over $5.5 million across more than 70 startups, demonstrating its commitment to the continued growth of its portfolio companies. This strategic follow-on investment helps bridge the gap between initial seed funding and larger venture rounds, enabling promising startups to further scale their ventures.

Parallel18 has played a pivotal role in transforming Puerto Rico's startup landscape, attracting diverse talent and fostering a dynamic entrepreneurial culture. By combining significant non-dilutive funding with strategic investment opportunities and a strong support network, Parallel18 continues to empower startups to achieve global reach while contributing to the island's economic diversification and innovation agenda. Its unique model serves as a testament to the potential of government-backed initiatives in driving startup success and regional development.