Lucas Arzolla Figueroa arrived in Cuba to tell the story of Parallel 18 and encourage Cuban entrepreneurs to sign up to this program. For three and a half years, he has been the operations director of this initiative in Puerto Rico, which aims to make entrepreneurship projects around the world successful.
“Get ready to be accelerated!” is the slogan that invites all interested parties to enroll in this business acceleration program, which for 6 months helps any entrepreneur to grow their business, regardless of the industry.
“We support them at the stage when they most need it, not only with money but also with coworking spaces, access to customers, talent; and the idea is that they can make their business sustainable during the program,” Arzolla explained.
With international and local mentors who share their knowledge, the course is designed to promote the growth of each generation. The creators have a broad global network and connections with large companies that translate into expanded scope and opportunities for new companies participating in the program.
To join, the business has to have a defined product, be on the market, have some level of sales and most importantly, an innovative and scalable concept.
The idea came from similar programs in other countries that have been created to foster entrepreneurship as an economic development tool. “We recruited the director of Start-Up Chile, Sebastián Vidal, one of the people who has managed to change the mentality regarding innovation in his country,” Arzolla noted.
Parallel 18 is based in Santurce, a neighborhood in the municipality of San Juan, Puerto Rico, considered a technological arts district, and an economically growing area. Its location allows it to be part of that growth and the change that is occurring in the city of San Juan. The business has the support of the Puerto Rico Science, Technology and Research Trust, the Department of Economic Development and Commerce and the Industrial Development Company of Puerto Rico.
“We want to change people’s mentality in Puerto Rico, and teach them that entrepreneurship is an option. We care about business development from the point of view of education. We collaborate with public and private universities and higher education schools. There are many creative people and the sooner they learn how to use that creativity, the sooner they can make a start,” Arzolla added.
Parallel 18 has launched a program in collaboration with Facebook to support Caribbean entrepreneurship. Countries such as Jamaica and the Dominican Republic participated in its first trial version.
The venture has a highly trained workforce, an attractive fiscal structure and solid infrastructure, which have turned Puerto Rico into an emerging startup hub. Its work continues to grow, creating jobs, contributing to the social development of the local community and making it possible for many initiatives in the world to be successful.
Since its creation, more than 200 companies have joined the project, all from different areas. Education, energy, financial technology, fashion and other businesses have managed to prosper from Puerto Rico and in turn support the strategic growth of this country, making it a unique gateway to achieve global success.
