Startup Hub Caribbean Benefits Local Residents
Facebook has partnered with Parallel18, an accelerator for startup companies that is part of the Puerto Rico Science, Technology and Research Trust, to provide support for 10 startups in the Caribbean. The program is called Facebook’s Startup Hub Caribbean and it is a 12-week program that started in May 2019. This program can tremendously benefit these technology startup companies and the communities that they work in.
The 10 companies selected are from Puerto Rico, Jamaica and the Dominican Republic and the partnership chose all of them because they provide a product or service that focuses on goals that better their communities. These include gender equality and employment opportunities. These companies will be able to grow and expand into other markets under the support of Facebook and Parallel 18 through their free services and mentorships.
The unemployment rates in Puerto Rico, Jamaica and the Dominican Republic are currently 7.7 percent, 8 percent and 5 percent. Although these numbers do not appear high, it comes to a total of about 785,000 people that are unemployed. Although providing support to these 10 companies will not completely fix the unemployment rate in these countries, they should be able to grow and provide jobs to their communities with enough support from Facebook and Parallel18.
Other than creating jobs for various communities, these start-up companies are providing real change and solutions. From Puerto Rico, Agrobeads is one of the 10 companies that Facebook has chosen to help. It provides capsules with water and nutrients to farmers in areas that are susceptible to droughts. According to Agrobeads, the capsules allow for the watering of crops and plants every two weeks instead of daily. Facebook’s support of Agrobeads will allow communities in the Caribbean to have greater access to locally grown foods and a more stable income for farmers.
A company focused on providing assistance to those who are underprivileged, Edupass originally formed in 2014. It provides information and assistance to those in the Dominican Republic going through the admission process to university or college. Education is the key to growing a strong workforce and with the support from Facebook’s Startup Hub Caribbean program, Edupass will be able to provide assistance through its admissions experts. These experts will be able to guide students through the application process, help transition students into life at college and provide students with tutoring and the opportunities for internships.
With the creation of Facebook’s Startup Hub Caribbean program, Facebook and Parallel18 are able to provide assistance to young companies that have created solutions for communities around the Caribbean. Although these companies focus and work to benefit their own communities, they could potentially expand to areas outside the Caribbean with the tools, workshops and mentorships from Facebook.
– Ian Scott