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June 5 Edition
Puerto Rico stands out as a broad market of talent and resources that position the island as a profitable business model and a strong support community. Its culture, language and geographic location make the country an active and competitive asset, both nationally and internationally.
That was the consensus among a group of entrepreneurs gathered at the "Meeting of the Americas" event, organized by Endeavor Puerto Rico, which turned San Juan into a meeting point for some of the most prominent entrepreneurs in the Americas for three days.
💡Endeavor Puerto Rico in 4 key points
It is a nonprofit organization that supports Puerto Rican entrepreneurs.
It seeks to transform the entrepreneurial ecosystem in Puerto Rico.
Among its objectives, it helps select, support and invest in high-impact entrepreneurs.
It connects selected entrepreneurs with a global community of business leaders.
What is Meeting of the Americas?
The Endeavor event brings together local leaders with expertise in entrepreneurship to share their experiences and knowledge, and to highlight the opportunities Puerto Rico offers as a strategic platform for global growth.
It is part of Endeavor's mission to transform economies by selecting and developing high-impact entrepreneurs, providing them with the resources needed to accelerate their growth and expand their impact.
Cristina Tamayo, managing director of Endeavor PR, told Platea that the event featured an exchange of contacts and the development of professional ties among participants. Interviews were also conducted to select a regional panel for the organization. The goal was to identify those with the greatest potential to generate a global impact.
Seven companies and nine entrepreneurs were selected, among them two companies and four entrepreneurs from Puerto Rico: Emmanuel Oquendo and Israel Figueroa (from BrainHi) and Adrián Figueroa and Orban Mendoza (from Flexio).
Puerto Rico as a business springboard
Through panels and mentorship sessions, Endeavor Puerto Rico highlighted how the island can be used to launch businesses looking to expand into U.S. and Latin American markets.
Mac Schuessler (president of Evertec), Jason Borschow (founder and CEO of Abarca) and Ignacio Álvarez (outgoing president and CEO of Banco Popular) were the main speakers on a panel about Puerto Rico as a Business Growth Hub.
What did they say?
Mac Schuessler pointed out that "Puerto Rico offers a great community where you can mentor and be mentored." He noted that the business community on the island makes it possible to develop resources while having a support network, making it an ideal environment in which to grow a business.
"It's an excellent talent pool that moves between companies… You can grow quickly toward a profitable business model… I see challenges, but nothing that makes me reconsider that this is a great place," the president of Evertec said.
Jason Borschow listed certain characteristics of living and doing business on the island, including the fact that businesses in Puerto Rico fall entirely within the U.S. market.
He highlighted Puerto Rico as "an authentic place to live" with hundreds of flights connecting to the United States, Europe and Latin America.
He also pointed out that, although relocating from Puerto Rico to other jurisdictions is easy, today, with the ease of remote connectivity, it is not necessary to move in order to establish, develop and maintain professional networks and compete in the global market.
Ignacio Álvarez commented that "what sets Puerto Rico apart is that we are very unique, we are a Hispanic community within the United States. You can go in any direction, you can go North or South (to the United States or Latin America)."
Álvarez, who on June 30 will retire from Banco Popular, acknowledged some challenges and areas of opportunity:
On infrastructure, he pointed out that energy is not only expensive but that there are reliability issues as well.
That talent recruitment needs attention when a company grows quickly.
That global talent needs to be brought into the organization.
That people who work around the world need to be brought into the culture of the country, in this case Puerto Rico.
Participants also received exclusive insights on how to leverage the Puerto Rico market as a growth platform, with sessions focused on government incentives, business operations and expansion strategies.
– Cristina Tamayo, general director of Endeavor Puerto Rico
"We want to keep attracting more people, resources and connections. To put Puerto Rico on the map," Tamayo said.
For now, she noted that Endeavor Puerto Rico will continue supporting and developing the companies and entrepreneurs selected so they are ready for this organization's international panel selection.
This content was translated with the assistance of Artificial Intelligence (AI).
