Business training and mentoring is free of charge.
PDF version of the press release
San Juan | Monday, October 2, 2023 | The Small Business Incubators and Accelerators Program of the Puerto Rico Community Foundation (FCPR) began receiving applications from entrepreneurs who wish to receive training and mentoring. The third cycle of the program, which begins in November, will support participants with the drafting of a business plan to take their idea to the next level and apply for government incentives.
Those interested can attend the virtual and in-person workshops offered by the incubator and accelerator closest to their area of residence: CRÉALOS of the Office for the Promotion and Human Development (OPDH), in Arecibo (north central); Incubadora Solidaria Headquarters from Women of the Islands, in Culebra; and the Center for Microenterprise and Sustainable Agricultural Technologies Inc. (CMTAS Yauco, Inc.), in Yauco (southwest).
To participate, register at one of the incubators mentioned above or send an email to aemejia@fcpr.org. Access the application at Small Business Incubators and Accelerators Program which appears in www.fcpr.org -In the main menu you can find it under Programmatic Approaches, and choose the Incubators and Accelerators submenu. At the end of the workshops, participants will receive a certificate of completion.
The program is an initiative supported by the Puerto Rico Department of Housing through program funds CDBG-DR, and is managed by the FCPR, together with the incubators and accelerators.
“We are very excited about the start of the third cycle of incubation and acceleration of small businesses because it gives us the opportunity to once again increase the human capital of Puerto Rican entrepreneurs. We are looking for them to boost their entrepreneurship with the creation of a business plan and the acquisition of specific knowledge about its development, as well as information about available government assistance,” said FCPR President and CEO Dr. Nelson I. Colón Tarrats. “Small and medium-sized enterprises (SMEs) are important for the economic development of our archipelago, and this program collaborates with the mission of making them grow,” he added.
Some of the learning areas included in the curriculum are: Business Feasibility, Incentives for Puerto Rican Entrepreneurs, How to Prepare a Financial Statement, How to Make a Business Plan, and Business Permitting-the other learning areas vary by incubator and are specified in the enrollment process.
In the first of four incubation and acceleration cycles (2021), 19 companies were developed and obtained a merchant certificate and/or presented a business plan. In October 2022, the second cycle began, from which 43 participants graduated. Of these, 16 presented their business plans, 13 obtained their merchant registrations and seven obtained artisan certifications, as reported to date. Some of the companies that have graduated from the incubation cycles, which are already operating, are: La Jíbarra Creative Pizzeria, in Culebra; Stilo Grace, in Arecibo; La Jíbara del Coquí, in Yauco; Le'Charcuterie, in Arecibo; The Cold Corner, in Arecibo; Ulana Handmade Crochet, in Culebra; F MARTINEZ ‘S ACCOUNTING INC, in Arecibo; and Bee-Connected, in Coamo. You can learn about the history of some of these in the video: My Entrepreneurial Journey: Boricua Entrepreneur Stories.
This program is also aligned with several of the United Nations Sustainable Development Goals (SDGs), particularly the SDG on Quality Education (4) and Decent Work and Economic Growth (8).
About the Puerto Rico Community Foundation | The Community Foundation is a philanthropic organization with a 38-year history of collaboration with donors and communities, with the aim of developing the latter's capabilities through the increase of community capital. It is the first of its kind in the Caribbean and Latin America and the only one of its kind in Puerto Rico. Its current programmatic focuses promote access to water and energy; racial and gender equity, and the Sustainable Development Goals (SDGs); in addition, the activation of economic development, among others. It is recognized as an 1101.1 organization under the Puerto Rico Internal Revenue Code and as a 501(c)(3) organization under the Federal Internal Revenue Code.