Imagen vía: Parallel18
BioLeap is the bioscience incubation program developed by the Puerto Rico Science, Technology and Research Trust’s (FCTIPR) parallel18 entrepreneurship program, which will provide business education and mentoring for 12 weeks to the participants of its second cohort that seek, through biotechnology solutions, to boost the island’s economy.
In total, 13 Puerto Rican startups and one Canadian company were selected to be part of the second edition of its incubation program, where participants and entrepreneurs with bioscience projects will be able to structure their businesses, launch a working prototype and develop patentable technologies with the goal of commercializing them around the world.
The selected startups offer solutions in various industries, including medical devices, gene therapy, diagnostics, big data/AI, digital health and environmental platforms. Participating Puerto Rican entrepreneurs come from various municipalities on the island and will benefit from a two-day training bootcamp led by Indiebio-New York, one of the world’s leading climate venture capital firms.
The initiative will provide participants in the first and second BioLeap cohorts with access to a network of industry experts, investors and resources within New York’s renowned life sciences and innovation community. The partnership is part of the New York-Puerto Rico Life Science Exchange as a result of the agreement between the governments of New York and Puerto Rico, signed in 2023.
“We are excited to be able to support these entrepreneurs through parallel18 and the Trust, while fostering the growth of the island’s life science entrepreneurship ecosystem,” Héctor Jirau, Executive Director of parallel18, said in a statement.
The BioLeap program is developed thanks to the U.S. Department of Commerce’s Economic Development Administration’s (EDA) “Build to Scale” grant that supports organizations that promote technology entrepreneurship, innovation and drive economic growth.
The selected startups were Ama Earth Group, Consusis Inc, Diversia Health, Equiply.io, Omiquity Health, Prisma Diagnostics, Nura Health, MedETechN, Positivo Biotechnology LLC, T-CAN, Baby Abrazo, iHnnova, ReleaseBio, Yagüez Diagnostics.
“This second generation offers innovative and relevant solutions in the field of biosciences that will contribute to the development of innovation and the economy of Puerto Rico,” added Jirau.
“At the Puerto Rico Science, Technology and Research Trust, we are proud of the impact BioLeap continues to have on local entrepreneurship in life sciences,” said Lucy Crespo, CEO of FCTIPR. “This second generation will take full advantage of the resources we offer and we look forward to following their achievements closely,” added Crespo.
As an initiative of FCTIPR, parallel18 is part of the entrepreneurship pillar, along with programs such as Colmena66, Fase1, SBIR/STTR and others. Together, these initiatives support entrepreneurs at every stage of their entrepreneurial journey.
In addition to the entrepreneurial training and support they will receive from parallel18, they will also have collaborative connections and support from other FCTIPR sub-programs such as the Technology Transfer Office (TTO), the Research Grants Program, SBIR/STTR and Colmena66.
With this new cohort, Puerto Rico continues to boost its economy by supporting the different startups that emerge on the island and bring with them innovative ideas, in this case in the biosciences industry that are fundamental to solve local challenges, in addition to empowering and leading to these projects also having a global impact.
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