Empowering growth-stage companies towards sustainable expansion!
Xpand is an entrepreneurial program designed to support growth-stage companies in Puerto Rico by providing business resources and network opportunities that can potentiate sustainable expansion into new and international markets.
XPAND APPLICATIONS FOR GEN.5 ARE OPEN!
What does xpand HAVE to offer?
On-going
community
support
- Business training focused on strategy, operations, and finance.
- Technical assistance: we connect participants with key resources as needed.
- Direct access to active investors through the Parallel18 Ventures subprogram.
- Connections and access to potential partners through the Parallel18 Connect corporate partner network.
- Participants can apply for a $100,000 (USD) investment fund in seed capital. Companies selected to receive this investment fund must demonstrate their commitment to the program, increase their growth, and impact the business ecosystem in Puerto Rico.
Curriculum-driven
initiatives
- Our highly experienced mentor network offers technical one-on-one assistance tailored to each participant's needs, ranging from Public Relations, Investment, Marketing, Business Development, etc.
- Meet the founder: Informal gatherings with proficient founders from Puerto Rico and abroad to learn and foresee firsthand how to manage scalability and growth.
- Roundtable Meetings: Xpand participants can bring learnings, milestones, challenges, and opportunities to the table and discuss them with other founders. This conversation will be guided by one of our mentors.
HIGH QUALITY MENTORSHIP
WHO QUALIFIES?
Companies must have over 3 years in operations and should be for-profit organizations. Participants must demonstrate a proven impact on Puerto Rico.
The activities carried out by the company must have a business model with the potential to grow and scale its operations outside of Puerto Rico
Selected businesses must be majority-owned by Puerto Rican or Latino individuals currently living in Puerto Rico.
The founders must have participated in an acceleration program before Xpand or generated more than $250,000+ in annual sales.
How to join Xpand?
Our program accepts participants all year round. If you have at least two team leaders dedicated exclusively to your company’s operations, this is your chance! Take advantage of our resources, mentors, and events.
The parallel18 team will contact you!
Frequently Asked Questions (FAQ's)
Do I have to pay to participate in the program?
No, participating in Xpand is completely free for all selected participants. Our goal is to provide support and resources at no cost to foster business growth.
Is Xpand’s investment mandatory?
No, the investment is not mandatory. There is a separate application process to access the investment, during which we evaluate key aspects of the business and the proposed use of funds. This proposal is presented to our investment committee, which decides who will receive the investment based on established criteria.
Is the program a competition?
No, Xpand is not a competition. Instead of competing among participants, our approach focuses on collaboration and supporting each company to reach its full potential. All participants benefit from a shared learning environment and resources tailored to their specific needs.
How long does the program last?
The program runs for most of the year. Your participation begins with an educational component lasting five weeks, during which community events and follow-up meetings take place. Afterward, we connect you with mentors, business opportunities, or financial resources according to your needs.
Can I participate in Xpand and another parallel18 program at the same time?
No, our programs are designed to serve companies at different stages of development. An early-stage company cannot simultaneously be in an advanced growth stage program. Each program is tailored to the specific needs of different business stages.
What is the expected time commitment from companies? How is commitment to the program and business progress measured?
The program includes 5 weeks of business training focused on strategy, operations, and finance. The average time commitment is 2 hours per week, not including the individual mentoring hours that companies may sign up for. It’s important to note that these hours are announced in advance to ensure maximum participation. Afterward, we offer a period of technical assistance.
Commitment is measured based on participation and utilization of resources. The progress of the company is assessed through the achievement of the goals established at the start of the program.
