REP expands its reach by duplicating the number of companies participating in the acceleration program in 2022
San Juan, PR – The Bravo Family Foundation (BFF) is accepting applications for the third edition of its Rising Entrepreneurs Program (REP), an entrepreneurship acceleration initiative aimed to scale local tech and innovation startups with capital, mentoring, and world-class curricula. The call for applications extends to Oct. 31.
The REP program provides critical, fundamental knowledge and extensive mentorship that shows startup founders how to run their businesses more effectively and successfully and grow them locally and internationally.
“We continue to expand our support and knowledge transfer to the growth and scalability of local entrepreneurs, strengthening Puerto Rico’s economic development.”Orlando Bravo, Chairman and Co-founder of BFF and Founder and Managing Partner of Thoma Bravo
In its third edition, the REP program will duplicate the number of finalists to 20 companies.
In December, the program will choose a minimum of 40 applicants who will make pitch presentations in January, of which 20 team finalists will be selected to participate in REP’s 10-week curriculum at the foundation’s office hub in Mayagüez and receive a $30K seed grant. In September 2022, after the participants make their final presentation, BFF will announce the three winning teams, each of which will receive an additional grant.
Startups interested in participating in the program must submit a REP application by Oct. 31. Applicants may check the foundation’s Facebook and Instagram pages for updates. BFF will notify the finalists on Dec 15.
REP completed its second edition last month announcing its winners, including Beauty 911, an online marketplace where users can search for beauty service providers in their area and book appointments to receive these services at home, the office or an event; Sirena Patterns, an online platform that helps users build a fashion business regardless of their location or fashion education; and FindIt, an online platform that allows users to post and search for real estate listings in Puerto Rico.
About Bravo’s Rising Entrepreneurs Program
The program equips young, purpose-driven entrepreneurs with the knowledge, capital and connections they need to start, run and grow successful tech-based businesses in Puerto Rico and abroad.
REP’s curriculum covers the fundamental concepts of running, growing and scaling a business, such as how to strengthen a business plan and how to fine-tune a product or service. Participants receive support from the REP team, local business leaders and mentors from one of the world’s largest private equity firms, Thoma Bravo. The firm specializes in acquiring and improving large- and mid-sized software and technology companies.
REP Selection Criteria
BFF selects REP finalists based on their technical expertise, innovative and growth-oriented business models, proven market fit and commitment to making a positive impact on the island, among other criteria. For more information about REP’s selection criteria, key considerations, requirements and compliance, visit BBF’s webpage.
REP Benefits and Value Added
The REP curriculum emphasizes business fundamentals such as profitable growth, operational and finance know-how, market sizing, sales and marketing, key performance metrics and customer retention. The training takes place in a collaborative learning environment under the guidance of expert staff, industry leaders and mentors.
REP kicked off in 2019. The winners of the Cohort 1 were Skootel, which offers scooter rentals that customers can access via their smartphones; CINCO Engineering, a web-based quality management software designed for the life sciences industry that enables users to assess, organize, analyze and trace information on risks related to patients and drug products; and InsuHealth Design, which provides a solution for bio-medicine storage during travel, power outages and disaster situations through a battery-operated cooling system.
About Bravo Family Foundation:
Bravo Family Foundation is a nonprofit organization established in 2017 by businessman and philanthropist Orlando Bravo and his wife Katy, with the mission to foster principles of social justice in Puerto Rico, empowering under-served communities to have equal access to socio-economic development opportunities. Bravo, who is from Puerto Rico, is the Founder and Managing Partner of Thoma Bravo, one of the largest private equity firms in the world.