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Parallel18 seeking startups for acceleration program: Apply now!

Parallel18 is a top-level, performance-driven international startup program with a social mission: offering entrepreneurs from all over the world access to high-quality business training, funding, and networks to help them scale globally while working to position Puerto Rico as a unique hub for innovative businesses and technology. 

parallel18

Parallel18 (Image via P18 Impact Report)

Interested in taking your startup to the next level?

Parallel18 is calling for startups to join Gen.9 of their international acceleration program. Applications for the next cohort are open now through May 10th. Interested startups can access the application here. Gen.9 cohort will start in August 2021 and will end in December 2021. 

parallel18, startups

Parallel18 is calling for startups!

Parallel18 is committed to making Gen.9 their most diverse generation yet and they are especially interested in supporting underrepresented entrepreneurs around the globe. Since Gen.5, female founders in P18 amount to no less than 42% of each cohort. Additionally, 61% of P18’s graduates are Latinos and 33% of their Matching Fund investments have been in female-led companies.

Chosen companies accepted into the cohort will have the opportunity to access a network of investors, business partners and contacts who work closely with entrepreneurs to tackle every key aspect of the company’s needs. In addition, they will receive a grant of US $40,000 – equity free – consulting and support during the 20-week program. Participating companies will also have access to the entire parallel18 community composed of the program alumni, a broad network of mentors, corporate clients and investors.

What parallel18 will provide for #P18Startups

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What parallel18 can offer you. (Image via P18 Impact Report)

  • Funding: US $40K grant (NO EQUITY)
  • Curated network of active investors
  • Connections to multinationals, so they can generate business relationships that can help you scale.
  • Acceleration like no other: parallel18’s program offers amazing mentorship, and the team is always hands-on, helping startups boost their growth. 
  • Because P18 believes in them: they created a follow-on matching fund to invest in their startups. P18Ventures offers the opportunity to apply for US $75K as an investment in your company. P18 has already invested in 24 of their alumni. 
  • Perks for all: P18 works hard to have access to discounts on the services you need to get things going.

What parallel18 is looking for from startups

startups

Parallel18 cohort members.(Image via P18 Impact Report)

  • Traction: startups that already have sales or users that are willing to pay for their product are better served by P18’s program
  • Scalability: companies that have a product that can easily adapt to other markets
  • Early-stage startups: startups that have been operating for 3 years or less
  • Be able to participate in P18’s blended format: selected startups will have to come to Puerto Rico to open their commercial bank accounts. They can also be asked to come to the Island for specific opportunities. All of this can be subject to change depending on how the COVID-19 pandemic keeps developing. 
  • Have a plan for your performance in Puerto Rico: this includes hiring, acquiring customers, among others

You might be interested: 7 Tips startups and entrepreneurs should consider to avoid going down

 

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Still need more convincing? Parallel18 has worked with more than 200 companies from more than 10 diverse countries. So far, their alumni have raised US $126M in investment after finishing their program and P18’s team is focused on providing the best opportunities to ALL founders. 

If you think your startup would be the right first for parallel18’s program, then Apply Now! Deadline: May 10th, 2021.