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PRESS RELEASE
For Publication: January 13, 2016
Contact: Keila López
Phone Number: 787-641-6028
Grupo Guayacán Announces Third Edition of I-Corps Puerto Rico to Be Held at the University of Puerto Rico’s Mayagüez Campus
Mayagüez – Grupo Guayacán, Inc. (GGI) will offer the upcoming third edition of its I-Corps Puerto Rico program at the University of Puerto Rico’s (UPR) Mayagüez Campus, marking the first time that the program is offered outside of the San Juan metropolitan area and directly on a university campus. I-Corps Puerto Rico is an intensive customer discovery boot camp for innovative entrepreneurs looking to build and develop scalable business models.
I-Corps Puerto Rico is offered through a partnership between GGI and the Georgia Institute of Technology (GT), whose VentureLab manages the regional node for the National Science Foundation’s Innovation Corps. The program includes a 2-day kick off, 3 weekly meetings and a 2-day conclusion workshop where each team presents the findings from the customer discovery process. The local teaching team will be led by Keith McGreggor, Venture Lab Director, entrepreneur, and veteran I-Corps instructor.
“We are very pleased that, following two successful I-Corps cohorts during 2015, we are able to expand the program’s reach in order to continue discovering the great potential of our entrepreneurs and researchers,” said Laura Cantero, GGI’s Executive Director. “The UPR’s Mayagüez campus is a distinguished center for research and innovation and we are proud to have the University’s support in bringing this program to campus and offering professors, researchers, students, and the community at large the opportunity to learn proven methodologies for the successful commercialization of innovative products and services arising from academic research.”
Like its recent second edition, the upcoming I-Corps session is funded mainly by the Puerto Rico Science, Technology & Research Trust. “Sponsoring I-Corps Puerto Rico is aligned with the Trust’s mission of investing in the knowledge economy so it can become a driver for economic development. Our entrepreneurs and researchers are the human capital in which we must invest and who we must support on their road to commercialization,” said Lucy Crespo, CEO of the Science Trust.
Providing access to I-Corps’ customer discovery methodologies is an important accomplishment for the UPR. “Hosting the upcoming edition of I-Corps Puerto Rico at the Mayagüez campus will allow us to promote the commercialization of innovations arising from scientific research and allow entrepreneurs from all across Puerto Rico to tap into the University’s talent pool. This is just one of the ways we can further entrepreneurial development from within Puerto Rico’s first higher education institution. Through this program, we reiterate the University’s relevance on the topic of entrepreneurship which has become even more pertinent in Puerto Rico’s current situation,” said UPR President Dr. Uroyoán R. Walker Ramos.
John Fernández Van Cleve, Mayagüez Campus Chancellor also expressed his support for the new program. “Promoting an entrepreneurial mindset amongst our students and the commercialization of innovations developed on campus is a priority in our agenda to support Puerto Rico’s economic development. The University also wants to serve as liaison to enable collaborations between our researchers, laboratories, and students and entrepreneurial ventures based on emerging technologies around the island. We are excited to host this edition of I-Corps Puerto Rico because the initiative furthers the campus’ strategic plan and recognizes the quality of innovative entrepreneurial talent that is available outside of the metropolitan area.”
Through the intensive five-week program each team will learn about their potential markets by conducting over 100 customer discovery interviews with likely customers and market influencers. Based on the feedback and evidence gathered through the customer discovery phase, each team will build a business model canvas, detailing the venture’s value propositions, customer segments, key activities, resources and partners, sales/distribution channels, cost structures, and revenue streams. The program, which began last year, was awarded the Startup Program of the Year award at the recent H3 Tech Conference.
Interested teams must submit a brief online application at www.icorpssouth.com/puertorico. The application process will be open until January 30th, 2016. For additional information please contact Keila López at klopez@guayacan.org or 787-641-6028.
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