Contxto – Accelerator Parallel18’s follow-up investment fund, P18Ventures, announced last Tuesday (3) the startup grads who will each receive US$75,000.
Leadership at Colombian DataWifi and CINCO from Puerto Rico were probably ecstatic upon being notified they were among the lucky three that were selected.
If your startup was part of the accelerator program, and you’re interested in applying for funding opportunities through Parallel18’, keep an eye out for the program’s call for submissions in November.
Related article: Four startups from Parallel18’s accelerator in Puerto Rico raise US$225,000 from non-profit
Wanted: Innovation
The latest batch of chosen startups were part of the Boricua accelerator’s sixth generation. And with their incorporation into the portfolio, P18Ventures has disbursed a total of US$1.35 million among 19 companies since its 2016 launch.
The initiative has learned a few lessons along the way.
Parallel18’s Director of Operations Lucas Arzola’s has overseen a shift in the program’s investment focus towards funding startups centered on innovation.
Moreover, since last year, the fund has been expanding its horizons to reach more investors both locally, and internationally.
“Today, these companies’ valuations are living up to those we’ve seen in big innovation hubs and our mission is to keep fostering that fast-growing quality by nurturing P18’s companies with the best investment education and opportunities.”
Arzola in press release
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DataWifi
The Colombian startup has developed a platform that turns free wifi networks into business opportunities.
Specifically, when a person logs in, the platform displays marketing content with which the person interacts with. Afterwards, they can use the internet connection.
So for example, if I’m in a park and there’s Wifi, I select the network. But before I’m able to proceed, I’ll have to watch a video or see a banner for a local coffee shop. After interacting with the content, I can get back to searching for cat videos.
I receive free internet, and the business has an opportunity to show me what they’re made of.
Plus, DataWifi gathers insights on how I interacted with the content. This information is then passed onto the business that wanted to market their product or service.
CINCO
Puerto Rican CINCO knows paper trails are crucial in clinical trials for drugs and medical devices. That’s where the startup’s software for quality risk management comes in.
The system it’s developed is all about tracking and documenting risks. It also lets stakeholders register actions to mitigate them. Moreover, the system is compatible with other commonly used tools like Excel.
And because sharing is caring, users can generate reports and then share them with others. Likewise, CINCO hosts a team-collaboration tool so everyone is up to date on the quality risk management of a product’s lifecycle.
Related articles: Tech and startups from Puerto Rico!
-ML
