San Juan – The 10th edition of Grupo Guayacán’s business competition, EnterPRize, has kicked off with the participation of this year’s 25 semifinalists who are competing for the opportunity to win seed capital awards in different categories ranging from $5,000 to $15,000.
The most recent workshop, which took place this past weekend, was focused on the Business Model Canvas (BMC), a tool that helps startups visualize key elements of the business model they plan to develop. The instructor was Matt Terrell, a BMC trainer and facilitator certified by Strategyzer, a program created by Alex Osterwalder, who is the original creator of the BMC. During the workshop, Terrell led the participants through every section of the BMC, including value proposition, customer segments, cost structure and revenue streams. As part of the competition, each startup will develop a BMC that clearly lays out their business model.
EnterPRize’s objective is to strengthen startups through a rigorous educational curriculum, mentoring and access to capital. In its 10th edition, EnterPRize broadens its offering through two phases focused on startups that are capable of growing locally and internationally. The first phase is the competition in which the 25 startups are currently participating. The second phase is an acceleration program, sponsored by a U.S. Small Business Administration award, the Growth Accelerator Fund, focused on preparing the most promising startups to raise capital and scale their businesses.
The EnterPRize competition also provides seed capital thanks to a group of sponsors. This year’s special awards are:
Agriculture Award, $15,000, sponsored by Puerto Rico Farm Credit, Puerto Rico Coffee Roasters and Caribbean Produce
Social Enterprise Award, $10,000, sponsored by Fundación Banco Popular
Sustainability Award, $5,000, sponsored by Fundación Aireko
Environmental Award, $5,000, sponsored by FirstBank
Innovation Award, $5,000, sponsored by Ferraiuoli LLC
Woman Entrepreneur, $5,000, sponsored by Oriental
The EnterPRize 2016 semifinalists are:
Bien Cool, LLC
Desde Mi Huerto
Estancia Verde Luz
HidrOrganica – Finca Neo Jibairo
Interactive Video Products
JAC Innovations, Corp.
Lulu by Natalia
Puerto Rico Hardwoods
The Green Barrier
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