Parallel18, an entrepreneurial program under the Puerto Rico Science, Technology, and Research Trust (PRSTRT), has announced the local companies selected to participate in its STEM & life science incubation program BioLeap, set to begin in February 2025. The program has chosen 14 Puerto Rican startups to form its second edition.

Through parallel18, participants will be provided with a supportive environment where entrepreneurs with life sciences projects can structure their businesses, launch a working prototype and develop patentable technologies with the goal of commercializing them for exports around the world. The Gen. 2 cohort includes: 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, Yaguez Diagnostics. Each company will receive access to business connections, and entrepreneurial education during the first phase of the program which consists of a 12-week curriculum, followed by a 14-week period of technical assistance.

These selected companies offer solutions across various industries, including Medical Devices, Gene Therapy, Diagnostics, Big Data/AI, Digital Health, Environmental Platforms. The participating Puerto Rican entrepreneurs come from diverse municipalities across the island, such as Bayamón, Carolina, Mayagüez, Guaynabo, Vega Alta, San Juan, San Lorenzo, Ponce. Including a Canadian startup that’s operating in the island.

BioLeap participants and alumni will also benefit from a two-day bootcamp led by Indiebio-New York, one of the world’s leading climate venture capital firms. The initiative will provide BioLeap alumni and second cohort access to a network of industry experts, investors, and resources within New York’s renowned life sciences and innovation community. This alliance is part of the New York-Puerto Rico Life Science Exchange as a result of the 2023 agreement between governments of New York and Puerto Rico.

“At the Puerto Rico Science, Technology, and Research Trust, we are proud of the impact BioLeap continues to have on local life science entrepreneurship. For our first cohort, 8 startups have benefited from a strategic curriculum that enables them to fuel their next phase of growth. We know that this second generation will make the most of the resources we offer, and we look forward to closely following their achievements,” said Lucy Crespo, CEO of PRSTRT.

As a PRSTRT initiative, parallel18 is part of the entrepreneurship pillar, alongside programs like Colmena66, Fase1, SBIR/STTR, and others. Together, these initiatives support entrepreneurs at every stage of their business journey.

“This Gen. 2 offers innovative and relevant solutions that contribute to innovation and Puerto Rico’s economy. We are excited to support these entrepreneurs over the 12 weeks of the program and to foster the sustainable growth of the life science entrepreneurial ecosystem on the island,” highlighted Dr. Héctor Jirau, Executive Director of parallel18.

BioLeap is possible thanks to the “Build to Scale” grant from the Economic Development Administration of the United States Department of Commerce (EDA) that supports organizations that promote technological entrepreneurship, innovation and that drive economic growth.

“We are excited to welcome these 14 life sciences entrepreneurs for our second generation. I am sure that the resources and support they will receive during the next 12 weeks of the curriculum and the 14-week technical assistance phase will allow them to continue growing and expanding, thus impacting the economy of Puerto Rico“, said Dr. Noé Crespo, Associate Director of parallel18.

In addition to the business education and support they will receive from parallel18, collaborative connections and the support from other subprograms of the PRSTRT such as the Technology Transfer Office (TTO), the Grants Program, the from SBIR/STTR and Colmena66.

Upon completing the 12-week phase of the program, entrepreneurs will also be provided with a structured path that includes connections to the other initiatives led by parallel18, such as pre-acceleration (pre18), acceleration (P18) and post-acceleration (Xpand)

For more information about BioLeap and the other parallel18 programs, contact [email protected] or visit the website at www.parallel18.com.

About parallel18 and the Puerto Rico Science, Technology and Research Trust

Parallel18 is a business support initiative with a social mission: to offer entrepreneurs around the world access to high-quality business education, financing and networking to help them expand globally, while positioning Puerto Rico as a strategic center for business technology-based innovators. Created in 2015 by the Puerto Rico Science, Technology and Research Trust, parallel18 stands out for its high-caliber, results-focused incubation, pre-acceleration, acceleration and post-acceleration curriculum.

About the Puerto Rico Science, Technology and Research Trust Puerto Rico Science, Technology and Research, as described in Public Law 214-204, as amended, is a private, non-profit organization, created in 2004 to promote the Island’s participation and job creation in the global knowledge economy by promoting investment and financing of research and development of science and technology. Invest, facilitate and develop capabilities that continually advance Puerto Rico’s economy and the well-being of its citizens, through companies based on research and development, science and technology, public health and innovation. With the goal of Puerto Rico being an innovation center of global recognition. The Puerto Rico Science,

Technology and Research Trust was also designated one of 31 Tech Hubs, by President Biden’s administration in 2023, to lead the PRBio Tech Hub, with a multi-sector consortium on the Island. For more information: www.prsciencetrust.org.