Parallel18

What is Parallel18?

Parallel18 is an international innovation hub focused on fostering inclusive entrepreneurship and promoting innovation. Specifically, they target underrepresented founders across the globe, providing them with not only financial support but also mentorship, business connections, and access to an investor network.

This hub operates various programs tailored to the needs of startups at different stages of their life cycle. For local Puerto Rican startups, there is a three-month pre-acceleration program that includes grants, business training, and networking opportunities to assist in launching to the market.

Additionally, Parallel18 runs a five-month acceleration program catering to both local and international startups, with the aim of helping them scale globally.

Post-acceleration support is provided through a four-month program backed by Banco Popular, which supports growth-stage startups from Puerto Rico in their expansion and sustainable scaling efforts. They also have a Life Sciences innovation incubator, run in collaboration with the Puerto Rico Science, Technology and Research Trust, aimed at propelling economic development in the life sciences sector through innovation and entrepreneurship.

Furthermore, their 'Challenge to Innovate' initiative targets early-stage clean energy projects in Puerto Rico, offering education, technical assistance, and capital access. Parallel18’s approach involves a hands-on methodology where founders are encouraged to drive their business forward by closely monitoring and actioning weekly KPIs.

They are noted for their transformative impact on startups, with many alumni praising the significant growth and funding achieved through the program. The hub boasts impressive figures, having distributed $13.7M in grants and facilitated over $210M in total investment raised. Parallel18 not only connects startups with a vast network of more than 600 investors but also engages with over 75 corporate partners.

The high-quality business education offered is instrumental for founders looking to grow and scale their businesses. Finally, Parallel18 nurtures a strong community through its Talent app, which builds a robust database of professionals available to their extensive network of over 350 international companies.

What they say:

We are an international innovation hub that offers funding, mentorship, and business connections.

What we look for: We invest in startups across various sectors including advertising, e-commerce, education, healthcare, information technology, internet, manufacturing, marketing, and software.