FREQUENTLY ASKED QUESTIONS
Who are invited to submit?
Entrepreneurs and innovators whose initiatives are in an early development stage and that are interested to develop them in Puerto Rico.
Is national origin a constraint?
No, applications are accepted all from over the world regardless of applicant’s nationality or if the proponent is a person or an entity.
How are original ideas protected?
All shared information is protected by a non-disclosure agreement and not conflict so as to ensure the integrity and transparency of the process.
Do the applications requires a complete business plan?
It is not necessary to submit a business plan as part of the application.
How the proponents contribute to the project?
It is required that proponents make a contribution. It is not necessary to be tangible resources or a disbursement. The amount and manner of making the contribution is determined on a case by case basis.
How long should the project extend?
It is preferable that project duration not to exceed six (6) months although such period can be extended.
What are the project selection criteria?
The applicant should demonstrate that the projects’ both technical and economic merit justify its development. Project selection criteria include:
- Scientific merit and originality
- Economic and market feasibility
- Intellectual property creation potential
- Applicant’s qualifications
- Socio-economical impact of the project
- Associated risks to the project
Who evaluates the proposals?
Proposals are evaluated specialists in each area. Prior each evaluator signs a non-disclosure agreement and not conflict agreement so as to ensure the integrity and transparency of the process.
How I can apply?
The application process begins by filling out form STARTUP.PR-001.