Puerto Rico Innovation Fund

Mid-Year Announcement In the first half of this year, we've deployed $19,620,000 in eleven groundbreaking companies across seven municipalities, impacting Puerto Rico from shore to shore. We will continue to deploy capital throughout the remainder of the year to support entrepreneurs doing research and development on the island. The innovation ecosystem would not be possible without the support of both the public and private sectors, and we are honored to be part of that group. We are bullish on Puerto Rico and trust in the founders building here. Stay tuned for more updates on the Puerto Rico Innovation Fund.

At the BIO International Convention 2024, our team was able to engage in over 150 one-on-one meetings, highlighting a strong interest in reshoring R&D and manufacturing activities to Puerto Rico due to its supply chain resilience, regulatory compliance, market access, and intellectual property protections. The Island’s historical role in pharmaceutical and medical device manufacturing, along with attractive tax incentives and a skilled bilingual workforce, are all crucial reasons to consider Puerto Rico. Overall, the enthusiasm for Puerto Rico as a biotech hub was extremely evident. A special thanks to Invest Puerto Rico for organizing such an amazing delegation representing both the public and private sectors. In the article are our key takeaways.

The Puerto Rico Innovation Fund (PRIF) is proud to announce an additional $5,675,000 of early-stage funding for Puerto Rico’s innovation sector. With its amazing bilingual STEM workforce and intelligent financial incentives, Puerto Rico has created a thriving R&D ecosystem for innovative companies. At PRIF, we remain committed to providing capital to companies that are creating local jobs and developing the next frontier of technologies and medicines. (1) Life Sciences/Pharmaceutical: A pioneer in the pharmaceutical industry, this company excels in developing, manufacturing, and commercializing high-quality, US-made active pharmaceutical ingredients (APIs) for generic, biosimilar, and innovative drug manufacturers. Their focus on expanding product lines and developing new capabilities positions them as a crucial partner in drug development. (2) Life Sciences/Pharmaceutical: At the cutting edge of biosimilar product development, this firm specializes in oncology supportive care medicines that enhance immune systems during cancer treatments. Their R&D facility focuses on biologic drug substance production, aiming to significantly improve patient outcomes. (3) Technology (Software): Revolutionizing vehicle repair and maintenance, this company has developed a high-tech platform that streamlines services, saving time and costs for fleet operators, insurance companies, and individual owners. They aim to be the preferred choice for hassle-free vehicle care. (4) Medical Device: This company is at the forefront of women's health by developing self-screening cervical cancer devices. Targeting women of screening age and healthcare providers, their innovative products play a vital role in the early detection and management of cervical cancer. (5) Technology (Software & Hardware): Focused on creating advanced monitoring systems with radar technologies and sensors for automotive, security, and healthcare sectors. Their products, designed for detecting humans, animals, and environmental changes, fulfill the need for reliable, intelligent monitoring solutions to enhance safety and efficiency. (6) Technology (Software): A tech firm specializing in software for federal compliance project management and professional services. Their solutions cater to the needs of large corporations, government entities, and small businesses, helping them stay ahead in the technology landscape. -- Invest Puerto Rico

Big thanks to all the sponsors and partners who joined forces with us for this incredible event 🫂 Your collaboration made ICON 2023 a true success! Popular Popular Bank BMA Group Global Parliament Capital Management Puerto Rico Innovation Fund Las Brisas Property Management PRISA Group Paulson Puerto Rico Rums of Puerto Rico The Colectivo Group Island&Key Uncommon EntrePReneurs Don Rafa Boutique Hotel and Residences Sequire We look forward to your continual support in our upcoming events. Stay tuned for ICON 2024 dates: soon to be announced! 📩 info@iconpr.org

Hello #BioLeap enthusiasts and aspiring innovators! 🚀 We're thrilled to announce that the open application round for BioLeap is just around the corner, kicking off on January 22! This is your chance to join a community of forward-thinkers, passionate about advancing breakthroughs in the world of Life Sciences. What is BioLeap? BioLeap is not just a program; it's a journey of exploration, collaboration, and pushing the boundaries of what's possible in the field of Life Sciences. BioLeap bridges the critical gap between Life Sciences research and successful commercialization, fostering innovation in Puerto Rico’s scientific landscape. Visit www.parallel18.com and fill-out this form 👉🏻 https://lnkd.in/e7Uf4wZA to to learn more about the program and get ready to start a transformative journey with #BioLeap. Join us in redefining the future of biotechnology! BioLeap: FUELING LIFE SCIENCES ENTREPRENEURSHIP! #BioLeap #ScienceRevolution #lifesciences #puertorico #incubationprogram

🚀 Fueling Puerto Rico's Future: At the heart of economic growth and innovation, we're dedicated to creating new products, expanding businesses, boosting exports, and generating jobs. Join us in shaping a thriving tomorrow. ✨ #EconomicGrowth #Innovation #PuertoRico #BusinessDevelopment

We're proud to announce a significant capital infusion of $3.1 million into Puerto Rico's innovation landscape. This investment is set to accelerate advancements in several key areas: 🔬 Medical Device: A company revolutionizing women's health with a user-friendly cervical cancer self-screening system to enhance the accessibility and convenience of gynecological testing. 🧬 Life Sciences (CDMO): A developer and operator of a pioneering cell therapy CDMO facility providing autonomous, interconnected manufacturing spaces with comprehensive support for all development phases, from pre-clinical to commercial. 🧪Life Sciences (Biosimilar Products): A company formulating and launching four proprietary biosimilar injectable products with the purpose of creating better access and driving improved outcomes for patients undergoing cancer treatments. 🏥Health-Tech: A company providing centralized data hub solutions to improve medical record portability, universal patient identification, and population health analytics, streamlining and securing healthcare data for patients, doctors, and insurers. ✨ At the Puerto Rico Innovation Fund, we are committed to supporting these entrepreneurs and local companies that are transforming the future. With a rich pool of skilled bilingual professionals and beneficial governmental R&D incentives, Puerto Rico continues to establish itself as a prime location for innovation. To explore investment opportunities and learn more about the Puerto Rico Innovation Fund, visit us at prinnovationfund.com.

As we embark on a new year, let's embrace transformative innovation and dynamic growth. Happy New Year to our wonderful community! Here's to achieving success and pioneering new frontiers. 💫 #HappyNewYear #Innovation #Growth #Visionary2023 #PRIF

As the holiday season approaches, we at the Puerto Rico Innovation Fund extend our warmest wishes to our community. May this festive period be filled with joy, reflection, and inspiration as we look towards a new year of innovation and growth. Happy Holidays! 🎄✨ #HappyHolidays #SeasonsGreetings #Innovation #Growth #PRIF #NewYearNewGoals

✨ We're thrilled to announce another new investment of $375,000 for a local company specializing in developing innovative cancer therapies, with a particular focus on metastasis-blocking treatments. This investment highlights Puerto Rico's emergence as a center for medical innovation, with numerous companies on the Island developing advanced therapeutics, especially in the realm of novel cancer treatments. Puerto Rico stands out as a scientific discovery and research hub, bolstered by substantial incentives such as cash grants and monetizable R&D credits 💲. These incentives empower companies to accelerate their timelines, create high-paying jobs, and bring lifesaving products to market, reinforcing the Island's status as a beacon of healthcare innovation and progress.📈