Innovation report: PR emerges as a start-up launchpad
- The San Juan Daily Star
- 2 days ago
- 2 min read
By THE STAR STAFF
Endeavor Puerto Rico, the leading global community of high-impact entrepreneurs, and Mastercard, the global technology company in the payments industry, have unveiled “Catalyzing Entrepreneurship & Innovation in Puerto Rico,” a first-of-its-kind ecosystem scan that maps the island’s entrepreneurial landscape and outlines a roadmap for inclusive economic growth.
The report underscores Puerto Rico’s rising position as a strategic launchpad for startups across the Americas, offering a comprehensive, data-driven analysis of the opportunities and challenges in building high-growth companies on the island. Leveraging Endeavor’s Data Unit research encompassing over 500 active startups and more than 500 founders, the study delivers actionable insights on how Puerto Rico can further unlock innovation, attract investment, and scale globally competitive ventures.
The report highlights both resilience and urgency within Puerto Rico’s largely bilingual entrepreneurial ecosystem, uncovering key trends that define its current momentum and future potential:
* Ecosystem Scale & Resilience: Puerto Rico is now home to more than 500 startups, with nearly 40% founded since 2020 -- a testament to the island’s ability to innovate and adapt in the face of economic and environmental challenges.
* Revenue Growth & Maturation: Median startup revenues have surged from $75,000 in 2022 to $500,000 in 2024, signaling rapid ecosystem maturation and a stronger growth trajectory.
* Entrepreneurial Advantages: Founders identified community and networking (24%) and proximity to key customers and markets (23%) as the top advantages of operating in Puerto Rico.
* Persistent Challenges: Despite the progress, 45% of founders still cite limited access to capital as a major barrier, while talent retention and hiring, particularly for developer and sales roles, remain ongoing challenges.
“As the first comprehensive scan of Puerto Rico’s entrepreneurial economy, the study provides critical insights into the island’s strengths and opportunities for growth,” said Cristina Tamayo, managing director at Endeavor Puerto Rico, at a presentation of the report held recently at a San Juan hotel. “It shows that despite limited capital market depth, 64% of Puerto Rican founders have secured funding and 82% have received mentorship, signaling a supportive ecosystem.”
Tamayo added that the findings “highlight the continued growth and promise of entrepreneurship in Puerto Rico, where mentorship is especially rooted in the community, as 68% of mentored founders are Puerto Rican-born.”
“Puerto Rico’s entrepreneurial ecosystem is at a defining moment,” said Pablo Cuarón, country manager at Mastercard Puerto Rico. “The study makes clear that while access to capital and specialized talent remain challenges, innovation and collaboration are fueling growth -- particularly in sectors like fintech, healthtech, and resilience-tech. …”
The presenters emphasized that the report (available in full at available at https://us.endeavor.org/scan-pr-2025/) marks a critical step in charting the path forward, equipping entrepreneurs, investors, and policymakers with the insights needed to unlock Puerto Rico’s full potential as a hub for innovation.