Parallel18
Puerto Rico Science, Technology, and Research Trust
parallel18 is a Puerto Rico accelerator, incubator and investment platform. P18 takes international startups, BioLeap serves life sciences, and Xpand supports growth-stage companies.
Parallel18 at a glance
| Part of | Puerto Rico Science, Technology, and Research Trust |
|---|---|
| Established | 2015 |
| Address | Forward Building, Science City, Puerto Rico |
| Programmes | 5 standing programmes |
| Stages supported | Prototype, Growth |
| Fees | Free — all 2 programmes that state a fee policy |
| Equity | 0 of 2 programmes that state a policy take no equity |
| Official website | parallel18.com |
| info@parallel18.com |
Which Parallel18 programme fits you
5 programmes compared by who they are for, the stage they accept, how long they run and what they cost.
By stage
- Prototype
- BioLeap
- Growth
- Xpand
| Programme | Best for | Stage | Duration | Format | Cost |
|---|---|---|---|---|---|
| P18 | Early-stage startups from anywhere in the world that are incorporated in Puerto Rico or the United States | — | 16 weeks, after a 4-week virtual evaluation | In person | Takes equity |
| BioLeap | U.S. citizens and permanent residents building life sciences prototypes to commercialise in Puerto Rico | Prototype | 12-week curriculum, then 14 weeks of technical assistance | Hybrid | Free |
| XpandWith Banco Popular | Puerto Rico-based growth-stage companies with at least three years of operations | Growth | A one-day bootcamp, then ongoing engagement through the year | — | Free |
| VCAP (Venture Capital Access Program)With Economic Development Bank of Puerto Rico | Seed and early-stage companies headquartered in Puerto Rico | — | — | — | Takes equity |
| parallel18 Ventures Matching Fund | Top parallel18 alumni that raise capital from institutional and angel investors | — | — | — | — |
Track record
What Parallel18 reports about its portfolio.
Its pages give different counts of graduated companies, so this page does not give a single total. The growth-stage community Xpand reports more than 80 companies supported.
All figures self-reported — parallel18.com, as of 2026.
Programmes they run
Standing programmes at Parallel18, separate from the funding calls above.
parallel18 runs three programmes and two investment funds. BioLeap is open now, Xpand accepts applications all year, and P18 applications reopen in 2027.
P18
AcceleratorA 16-week, in-person acceleration programme for early-stage startups from anywhere in the world, with an investment on selection.
Best for: Early-stage startups from anywhere in the world that are incorporated in Puerto Rico or the United States
- 16 weeks, after a 4-week virtual evaluation
- In person
- Takes equity
What you get, who can apply and how to applyHide details
P18 is the acceleration programme for startups that want to scale from Puerto Rico to global markets. It is open to startups from anywhere in the world, but the company must be incorporated in Puerto Rico or the United States, with authorisation to operate in Puerto Rico if selected. Applications reopen in 2027, and a waitlist is open for Gen. 15.
What you get
- An investment on selection through a SAFE, a Simple Agreement for Future Equity
- A bootcamp curriculum covering sales, fundraising and operations
- Weekly progress check-ins with a startup specialist
- Introductions to corporate partners through Parallel18 Connect
- Access to the Puerto Rico ecosystem and the parallel18 coworking space
- A perks programme with discounts on cloud hosting, marketing and legal services
Who can apply
- Startups operating for three years or less
- At least two full-time founders, with a team leader who can live in Puerto Rico for the full term
- A company ready to raise a pre-seed or seed round, either open now or within six months of the programme start
How selection works: applicants pass a multi-phase process of virtual meetings, an evaluation and judging round, and a selection committee. Up to 18 startups are selected for each cohort.
How to apply: there is no application fee. Join the waitlist on the P18 page to hear when applications reopen.
BioLeap
IncubationA free, hybrid life sciences incubator with a 12-week curriculum, a fully equipped laboratory and 14 weeks of technical assistance.
Best for: U.S. citizens and permanent residents building life sciences prototypes to commercialise in Puerto Rico
- Prototype
- 12-week curriculum, then 14 weeks of technical assistance
- Hybrid
- Free
What you get, who can apply and how to applyHide details
BioLeap is the incubator for life sciences startups in Puerto Rico. It is open only to U.S. citizens and permanent residents who will keep their research and development in Puerto Rico. Applications are open now for Gen. 4.
What you get
- A 12-week curriculum with specialised mentorship
- The Confluence Center laboratory for running experiments
- 14 weeks of technical assistance with open office hours
- Pitches to venture capitalists, angel investors and corporate partners
- Access to parallel18 Ventures and the Matching Fund
- Links to the P18 and Xpand programmes and to Puerto Rico Science, Technology and Research Trust resources
- You keep the intellectual property your company develops
Who can apply
- A novel, functional prototype, a proof of concept or a platform technology in the life sciences
- Founders with demonstrated experience and capacity to take the project to advanced stages
- Projects still at the ideation stage do not qualify
How selection works: the team judges the novelty and potential impact of the solution and the feasibility of the business model. Selection takes 5 to 6 weeks after the application deadline. The programme ends with a showcase for investors and industry leaders.
How to apply: submit the application through the parallel18 website, with a description of the business idea, the team and the development plan. There is no fee to apply, and you can reapply in a later cycle.
Xpand
PlatformA free, all-year community for growth-stage companies in Puerto Rico, with a one-day strategy bootcamp, investment readiness support and roundtables.
Best for: Puerto Rico-based growth-stage companies with at least three years of operations
- Growth
- A one-day bootcamp, then ongoing engagement through the year
- Free
With Banco Popular
What you get, who can apply and how to applyHide details
Xpand supports growth-stage companies that want to reach new markets from Puerto Rico. It is a community rather than a competition, so participants learn together and draw on shared resources.
What you get
- A one-day bootcamp on strategy, operations and finance
- Investment readiness assessment and support for capital raising
- Technical assistance in areas such as public relations, marketing and business development
- Roundtable meetings with other founders, guided by a mentor
Who can apply
- Companies with at least three years of operations and sustainable revenue
- At least two people dedicated to the business, with proven impact or plans to expand in Puerto Rico
- Former parallel18 alumni, or companies that have been through another accelerator
How to apply: use the apply button on the Xpand page. Applications are accepted all year. Selected participants take part at no cost.
An equity programme that invests in seed and early-stage companies headquartered in Puerto Rico, alongside private co-investors.
Best for: Seed and early-stage companies headquartered in Puerto Rico
- Takes equity
With Economic Development Bank of Puerto Rico
What you get, who can apply and how to applyHide details
VCAP is run with the Economic Development Bank of Puerto Rico, which the U.S. Treasury designated as the implementing entity, with support from parallel18. It takes minority equity in pre-seed, seed and Series A rounds. It invests up to half of any round, so private investors must match the remainder. It is an equity programme, not a grant.
Who can apply
- Seed and early-stage companies headquartered in Puerto Rico
- Majority stakeholders and C-suite who are permanent residents of Puerto Rico
- Companies that are actively fundraising, with a clear vision and the ability to execute
- Not non-profits, sole proprietorships or companies with 500 or more employees
How to apply: use the application button on the VCAP page, in English or Spanish. Applications are reviewed on a quarterly basis. You can apply before you have raised your round.
Follow-on co-investment for top parallel18 alumni who raise capital from institutional and angel investors.
Best for: Top parallel18 alumni that raise capital from institutional and angel investors
What you get, who can apply and how to applyHide details
The Matching Fund is one of the two funds run by parallel18 Ventures. It invests follow-on capital in top programme alumni who raise private capital from institutional and angel investors, to leverage that capital and support their growth. parallel18 identifies the startups it supports rather than taking open applications.
Labs & facilities
Equipment and space on campus.
The Confluence Center
A fully equipped laboratory where startups run experiments on specialised instruments, in the Forward Building in Science City.
News
- Parallel18 invests $1.5M in 15 startups from 8 countriesnewsismybusiness.com · last week
Source: Google News aggregated
How to apply to Parallel18
Choosing a programme
- Choose P18 if you are an early-stage startup that can move to Puerto Rico for 16 weeks and that is incorporated in Puerto Rico or the United States.
- Choose BioLeap if your project is a life sciences prototype and you are a U.S. citizen or permanent resident.
- Choose Xpand if your company has been operating for at least three years and is based in Puerto Rico.
- Look at VCAP or the Matching Fund when you are raising capital and the company is headquartered in Puerto Rico.
How applications work
- P18 applications reopen in 2027. Join the waitlist to hear when the window opens.
- BioLeap applications are open now. Describe the business idea, the team and the development plan.
- Xpand accepts applications all year.
- VCAP reviews applications on a quarterly basis. Request a copy of your answers at the end of the form, because the team does not share submitted answers.
How selection works
- P18 uses several phases: virtual meetings that test investment readiness, a judging round, and a selection committee.
- BioLeap judges the novelty and potential impact of the solution and the feasibility of the business model. Selection takes 5 to 6 weeks after the deadline.
- VCAP's due-diligence team may ask for more information. The page warns that a response can take two to three months.
What reviewers look for
- For P18, traction in the form of sales or users, and committed full-time founders.
- For BioLeap, a working prototype, a proof of concept or a platform technology, with founders who can take it further.
- For VCAP, a company that is actively fundraising and has a clear vision and the ability to execute.
About Parallel18
parallel18 is an entrepreneurship programme run by the Puerto Rico Science, Technology and Research Trust, a private non-profit. From Puerto Rico it runs three programmes and two investment funds. P18 accelerates startups from around the world, BioLeap incubates life sciences ventures, and Xpand supports growth-stage companies.
How the programmes work
P18 is a 16-week, in-person acceleration programme. Selected startups receive an investment through a SAFE, a Simple Agreement for Future Equity, and join a bootcamp curriculum that covers sales, fundraising and operations. Each startup has weekly progress check-ins with a startup specialist and access to mentors. Before the curriculum begins, startups complete a four-week virtual evaluation.
BioLeap is a hybrid incubator for life sciences. Its curriculum runs for 12 weeks and is followed by 14 weeks of technical assistance. Participants can use a fully equipped laboratory, the Confluence Center, in the Forward Building in Science City. The programme ends with a showcase for investors and industry leaders.
Xpand is a free, all-year community for growth-stage companies in Puerto Rico. It starts with a one-day bootcamp on strategy, operations and finance, and then offers roundtables, technical assistance and investment readiness support. Xpand is subsidised by Banco Popular.
Investment arms
parallel18 Ventures runs two funds. The Matching Fund invests follow-on capital in top programme alumni. The Venture Capital Access Program, or VCAP, is run with the Economic Development Bank of Puerto Rico, which the U.S. Treasury designated as its implementing entity. VCAP takes minority equity in seed and early-stage companies headquartered in Puerto Rico, and it never funds more than half of a round. VCAP is an equity programme, not a grant.
Who can apply
Eligibility depends on the programme. P18 is open to startups from anywhere in the world, but the company must be incorporated in Puerto Rico or the United States, and the team leader must be able to live on the island for the full term. BioLeap is open only to U.S. citizens and permanent residents who will keep their research in Puerto Rico. Xpand is for Puerto Rico-based companies with at least three years of operations and sustainable revenue. VCAP needs a company headquartered in Puerto Rico, with majority owners and C-suite who are permanent residents there.
Why Puerto Rico
parallel18 says Puerto Rico sits between Latin America and the United States, and that startups often struggle to bridge the two. The island is a U.S. territory with a common currency, a U.S. legal and regulatory framework and a bilingual talent pool. Its cost of living is lower than many U.S. technology hubs. The programmes are built around the aim of positioning the island as a hub for innovation and technology-driven solutions.
Where it runs and who runs it
The headquarters is the Forward Building in Science City. Startups in the programmes can use the parallel18 coworking space. The team is led by an Executive Director and includes an Associate Director, an Investment Team Lead, an Xpand Program Lead and a Startup Specialist.
Corporate connections and the local ecosystem
parallel18 Connect is its corporate innovation programme. It connects established companies with relevant startups to promote business deals between them, and it facilitates introductions to local industry leaders who can help startups launch their solutions in Puerto Rico. P18 companies take part in Connect as part of the programme.
The programme also has ecosystem goals. Its terms describe partnering with local organisations to bring participants into the local business and startup ecosystem, and helping local university students stay in Puerto Rico through internships at the companies created through the programme.
Recognition and scale
parallel18 was named among America's Best Incubators and Accelerators for 2026 by TIME and Statista. Its pages give different counts of graduated companies, so this page does not give a single total. Xpand reports more than 80 companies supported.
Get in touch
Send a message to Parallel18 — we'll forward it on your behalf.
The team
Dr. Héctor Jirau
Executive Director
Dr. Noé E. Crespo
Associate Director
Yessica Fontánez
Investment Team Lead
Mineiry Ramos Reyes
Xpand Program Lead
Gabriela Alicea
Startup Specialist
Frequently asked questions about Parallel18
What is Parallel18?
Parallel18 is an accelerator based in San Juan.
What does Parallel18 do?
parallel18 is an entrepreneurship programme run by the Puerto Rico Science, Technology and Research Trust, a private non-profit. From Puerto Rico it runs three programmes and two investment funds.
Where is Parallel18 located?
Parallel18 is located at Forward Building, Science City, Puerto Rico.
What programs does Parallel18 run?
Parallel18 runs P18, BioLeap, Xpand and VCAP (Venture Capital Access Program), among others.
Which Parallel18 programme should I apply to?
It depends on how far along your startup is. Prototype stage: BioLeap. Growth stage: Xpand. Check the programme's own eligibility before applying — several programmes are sector-specific.
Do Parallel18 programmes charge a fee?
No. Every Parallel18 programme that states a fee policy is free to join, including BioLeap and Xpand.
Does Parallel18 take equity?
It depends on the programme. and undefined take no equity, while P18 and VCAP (Venture Capital Access Program) take equity.
What facilities does Parallel18 offer?
Parallel18 offers The Confluence Center.
How do I apply to Parallel18?
- Choose P18 if you are an early-stage startup that can move to Puerto Rico for 16 weeks and that is incorporated in Puerto Rico or the United States. - Choose BioLeap if your project is a life sciences prototype and you are a U.S. citizen or permanent resident. - Choose Xpand if your company has been operating for at least three years and is based in Puerto Rico.
Who runs Parallel18?
Dr. Héctor Jirau (Executive Director) and Dr. Noé E. Crespo (Associate Director).
When was Parallel18 founded?
Parallel18 was founded in 2015. It is an accelerator.
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