By Libni Sanjurjo / FCPR Communications Officer
A group of nine entrepreneurs from the creative industry and incubated by the non-profit organization Tereques House Inc. a business training cycle subsidized by the Puerto Rico Community Foundation (FCPR).
The initiative is part of the Community Incubator Incentive Program from the FCPR, focused on strengthening the island's community incubators as vehicles for economic activity in communities, through the incubated micro-enterprises with the potential to create and sustain businesses and jobs.
“We are very honored to have been able to strengthen the human and social capital of this group of creatives aiming to start businesses. We have been supporting the transformation of Casa Tereques from its legal structure, and now in forming an incubator for creative businesses, recognizing the economic, social, and cultural impact of this effort.
Attorney Agnes Crespo Quintana
Leader of the FCPR Community Economic Development Unit
The business training was supported by Atlantic Hurricane Season Recovery Fund from Center for Disaster Philanthropy (CDP), whose aim was to promote economic activation through community empowerment.
Over the past two years, this business training cycle facilitated the training of 21 organizations and had a direct impact with technical assistance on 13 organizations. Of these latter organizations, five received a grant to continue the incubation process: Casa Tereques, Women of Islands, Juan Martín Center, ACUTAS, and the Institute for Agroecology.
With the support of this grant of $$200,000 from CDP, the FCPR was able to leverage and invest in 2019 and 2020 a total of $$868,041 in the community (Community Economic Development).
A time to celebrate…
During the closing event, participants unanimously highlighted the value of the support process in the development of their businesses. One of these, Eduardo Paz de Kimpande Jewelry by EP, highlighted that she achieved understanding that her artistic process has commercial value as part of the creative economy. Meanwhile, Vanessa Alicea of Punto Uve, another participant, highlighted that although she just graduated with a bachelor's degree in Education, she feels a great passion for art, to the point that today she is one of the entrepreneurs incubated by the program.
“Without a doubt, the group emerged strengthened and committed to the development of their ventures.
Attorney Agnes Crespo Quintana
Leader of the FCPR Community Economic Development Unit
The participants in this business incubation cycle are: Belisa Álvarez of Belisa en La Tiendita and Casa Tereques; Eduardo Paz of Kimpande Jewelry by EP; Rosa Soa, stylist; Edaliz Pacheco of Mom Does It Better; Vanesssa Alicea of Punto Uve; Victoria Sofía Padilla of Jardinera by Sofía; Tania Morales of Tres Estrellitas; Victor Cruz, goldsmith and artisan; and Omar Quiles of The Clay Theory.
Community Business Activation
The FCPR believes that strengthening the operation of existing community incubators, expanding them, and creating more organizations that stimulate business sustainability and employment, is inherent to the economic activation mandate of the 2021 Strategic Plan.
Casa Tereques is a non-profit organization aimed at promoting the economic, socio-cultural, and artistic development of Puerto Rico, particularly the development and reconstruction of the San Juan neighborhood of Santurce and its low-to-moderate income residents, with an emphasis on the female population and creative industries. The organization also stands out for its affinity with the FCPR's mission: to develop community capacities.
With the support of FCPR, Casa Tereques was incorporated at the end of 2020, which will allow it to continue and strengthen the work that its leaders have been doing for 15 years through Christmas Bazaar y Tereques The Little Store, a collective of creative women with emerging brands The Terequeras and the sample space Tereques House. The new organization – Casa Tereques Inc. – allows them to create a foundation for the projects and services they offer through the aforementioned concepts; which makes it feasible for them to provide a business training program that guides and supports the participant through all stages of development. For its creation, they also had the support of Active Voice and the consultant Nelson Reyes.
En el 2020, Programa de Incentivo a las Incubadoras Comunitarias de la FCPR apoyó diez incubadoras con la otorgación de $175,512.18 incentivos, una inversión filantrópica que permitió crear o sostener 94 empleos.