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We are thrilled to announce the release of

parallel18's 2023 Impact Report,

showcasing the remarkable achievements

and collective impact of both our

organization and the startups we support.

Throughout the past year, parallel18 has

remained committed in its mission to

fostering innovation and driving positive

change within the entrepreneurial

ecosystem. Our Impact Report for 2023

provides a comprehensive overview of the

milestones reached, initiatives launched,

and transformative outcomes accomplished

during this period.

Notably, this report highlights the

remarkable progress of the startups that

shape our ecosystem. From breakthrough

innovations to significant growth milestones,

each success story exemplifies the power of

collaboration, resilience, and entrepreneurial

spirit.

I invite you to explore this report, which

serves as proof to the dedication and hard

work of everyone involved in the parallel18

community. Whether you're a member of

our team, a startup founder, a mentor, or a

partner, your contributions have been

instrumental in driving our shared mission

forward.

As we reflect on the achievements of 2023,

let us also look ahead with optimism and

determination. Together, let us continue to

leverage our collective strengths to create

lasting impact and pave the way for a

brighter future.

¡HOLA!

Héctor Jirau, Ph.D.

Executive Director

parallel18

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Eight years ago, parallel18 launched as part of a dynamic

endeavor by the Puerto Rico Science, Technology, and

Research Trust to invigorate the island’s economic landscape

by fostering a vibrant and inclusive ecosystem. Since the first

generation of international startups, our interventions have left

a positive mark on 452 early-stage companies. We have

provided these startups with vital support in terms of funding,

mentorship, networking opportunities, resources, and avenues

for investment. Our organization stands as a referrer of

innovation, guiding startup alumni across the journey of

development and serving as a nucleus where investors land,

entrepreneurs meet, and emerging and fully developed

markets link up.

This 7th Impact Report of parallel18 offers insights into the

outcomes of the Gen. 11th cohort of our international

acceleration curriculum, P18; the fifth generation of our local

pre-acceleration program, pre18; and generations two and

three of Xpand, our post-acceleration program. A total of 61

local and international startups successfully culminated

these programs during the period of January to December

2023.

This report also includes data of all startup alumni, and the

initiatives and accomplishments of our subprograms.

The information contained herein was meticulously gathered

through exit surveys conducted upon completion of the

programs, alumni feedback spanning and additional insights

meticulously curated by the dedicated team at parallel18. 3