P18 announces $60,000 grants for innovate tech startups

StartupBeat Team
By StartupBeat Team March 28, 2023

International accelerator P18 has announced its 11th cohort, providing $60K grants to innovative tech startups. Startups in the US and internationally are encouraged to apply.

The funding amount marks a 50% increase in funding compared to previous cohorts. Since its inception in 2015, P18 has received over 4,500 applications from more than 60 countries, with 256 companies completing the program.

The program includes access to the Parallel18 TalentApp, mentoring, and growth monitoring throughout the 20-week program. P18’s community comprises alumni, investors, mentors, corporate partners, and specialists accessible to founders.

The $60,000 funding awarded to startups is split into a $40,000 equity-free grant and a $20,000 investment through a Simple Agreement for Future Equity (SAFE). To apply, startups must be innovative, have three years or less in operations, have generated sales or a validated product in the market, have traction and growth, and be a scalable business that can adapt to additional markets. 

At least two founders must be able to work full-time during the program in San Juan, and they must present a plan on how they plan to leverage Puerto Rico to scale their company.