The Fase1 Intensive incubator is back with the call for its third generation.
Fase1 Intensive is a 12-week program, free of charge, in which participants can develop the minimum viable version of their business idea.
San Juan, Puerto Rico – January 18, 2024 – After two successful generations of Fase1 Intensive, the program driven by the Puerto Rico Science, Technology, and Research Trust (PRSTRT), is launching the call for the third generation of its business incubator.
This incubator provides up to 50 entrepreneurs from around the island with the opportunity to boost their business idea and prepare the minimum viable version of their product for a quick market launch. Participants, who must have completed the first three educational modules available through Fase1 Lab, will receive technical sessions for prototype development, support with business registration and incorporation, logo design, access to co-working space, and the opportunity to win cash prizes upon completing the curriculum, among other benefits.
Intensive’s curriculum, offered in a hybrid format (in-person/virtual), includes mentoring sessions with local and international experts and is designed to support ideas ranging from physical products, services, and applications, among others. As part of the program benefits, up to 30 projects that complete Intensive with a basic functional version of their product or service will directly move to the evaluation committee of the next pre18, the pre-acceleration program by parallel18. This year, graduates of Fase1 Intensive make up 35% of Gen.6 of pre18, which is about to begin. These include Agro Lab PR, Balanced Nutrition App, Mofongo Jobs, Intelicargo, Next Cycle Foods, Nabori Labs, RentSmart, WUJU, and Pairon.
“For the Trust, it is a significant achievement to see how the entrepreneurship pillar programs continue to complement each other and validate our commitment to local entrepreneurs, strengthening their journey from incubation to acceleration,” said Engineer Lucy Crespo, CEO of PRSTRT.
“The growth of the Fase1 community impresses us and fills us with pride. Last year, we received nearly 150 applications for Fase1 Intensive from different areas of the island. Seeing that many of our graduates are succeeding in pre18 and other entrepreneurship programs is a source of pride for our team. It also validates that our Intensive model continues to open doors for more people to embark on entrepreneurship with greater potential for success,” said program director Bárbara Rivera Chinea.
“Fase1 opened my eyes to a world of possibilities and validated the seed of entrepreneurship that I had been cultivating for some time. It gave me the confidence that I have the desire, the dream, but above all, the ability to start a business and contribute to the success of companies and other entrepreneurs with my vocation for service. Truly, Fase1 was my starting point. The exceptional and passionate Fase1 team is doing remarkable work,” expressed Janet J. Ramos Laboy of Acceso RH, a participant in the second generation of Intensive. The program also includes one-on-one meetings with expert mentors in the world of entrepreneurship.
The call will be open until April 5, 2024, and those interested in applying can find the application form and requirements at fase1.org. With the opening of the new call, Fase1 will be holding a series of orientation events and visits around the island. If you want Fase1 to visit your municipality or region, please complete the following form. Fase1 Intensive, starting in June, is part of the Small Business Incubators and Accelerators Program of the Department of Housing of Puerto Rico under the CDBG-DR funds program. For questions about the program, you can contact us at [email protected].
About Fase1:
Fase1 is an entrepreneurial incubation program for residents of Puerto Rico who want to turn great ideas into successful startups. Our incubator focuses on providing access to entrepreneurship education and fostering new ideas through a business cycle that includes specialized training, mentoring, and access to our startup community in a dynamic and high-impact environment.
As a Puerto Rico Science, Technology, and Research Trust program, Fase1 complements the entrepreneurship pillar of the organization that includes Colmena66 and the parallel18 programs pre18 and P18. Fase1 is part of the Puerto Rico Department of Housing’s Small Business Incubators and Accelerators Program under the CDBG-DR funding program. Visit fase1.org for more information.
About the Puerto Rico Science, Technology, and Research Trust
The Puerto Rico Science Technology and Research Trust, as described in Public Law 214, is a non-profit organization created in 2004 to promote participation and job creation on the Island in the global knowledge economy by promoting investment and funding for research and development in science and technology. It invests, facilitates, and develops the capacities that continuously advance the economy of Puerto Rico and the well-being of its citizens through companies based on innovation, science and technology, and its industrial base. With the goal that by 2022, Puerto Rico will be a center of global recognition that develops and retains scientists, companies, and entrepreneurs of world excellence to boost our competitiveness and creativity. It is also responsible for Puerto Rico’s public policy for science, technology, research and development, and public health. For more information: www.prsciencetrust.org.