Innovation & Entrepreneurship In Puerto Rico

Made For and Inspired by Entrepreneurs

Puerto Rico is a buzzing hotspot for entrepreneurship. Our legacy in manufacturing has evolved into a vibrant ecosystem that supports myriad enterprises, from startups to fully-scaled operations in a wide spectrum of industries. The island’s unique combination of start-up incubators, incentives, shared work spaces, and tropical lifestyle has made it a rising hub for entrepreneurs. Though the nature of business has changed, one thing remains true: Puerto Rico has what it takes to accelerate success.

#1
in the region for higher education and training
$595M
annual private sector payroll
#2
in LATAM for digitally fluent professionals

Primed For the Tech-Savvy

Puerto Rico is a prime site for 0G to 5G connectivity and the integration of the Internet of Things (IoT). Through the work of companies like Everynet and Sigfox, Puerto Rico is light years ahead in connectivity and IoT allows companies on the island to take advantage of unprecedented data transfer speeds to optimize operations. 

Meaningful change comes from innovation. This is why the Island is one of the main proponents of startup culture, and why so many incubators and business accelerators call Puerto Rico home, making it a hub for all entrepreneurs.

Entrepreneurs Are the Building Blocks of the Business Community

An Entrepreneurial Wave

  • A 1300% increase in venture capital funds, from 2014 to 2017
  • $10M is the amount Parallel18, a top-level accelerator program on the island, has helped start-ups raise in four years
  • More than 15,000 people have participated in entrepreneurship initiatives led or backed by the Puerto Rico Science Trust (PRST)
  • The University of Puerto Rico’s Center to Foster Innovation and Commercialization supports entrepreneurs from ideation through implementation
  • Tax incentives have helped Puerto Rico emerge as a tech hub that attracts pioneers, innovators, and entrepreneurs in cutting-edge sectors

Compelling Incentives

4%
Fixed income tax rate on eligible income
100%
Tax exemption on capital gains†
75%
Exemption on property tax
75%
Exemption on municipal construction rate
50%
Exemption on municipal license tax
15
Year standard tax exemption grant period

Subject to renegotiation for an additional 15 years

† From securities and digital assets (eligible investments) and capital gains and other investment income sourced to Puerto Rico and not subject to federal income taxes

A Culture of Creating

Puerto Ricans are known for their warmth and hospitality, as well as their resilience and creativity. The Caribbean lifestyle, warm weather all year, Latin culture, and United States infrastructure provide a community that entrepreneurs love.

There are many advantages to launching a venture in Puerto Rico. Act 60 provides generous incentives for small businesses, export services, and a variety of industries. An established network of entrepreneur-focused nonprofits fuels start-up collaboration. And a close network of business and community leaders means that Puerto Rico is perfect for introducing new businesses and scaling them up for national, regional, or global markets.

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