It's All About The Benjamins

Wall Street Puerto Rico Business EventsHere is collection of business-related news, all packaged together for your capitalistic consumption. As part of my effort to catch-up on my posts, here are four events that should be of interest to industry and entrepreneurs, particularly entrepreneurs.

Partnership Opportunities for Technology-based Entrepreneurs

The Puerto Rico Industrial Development Corporation is offering a one day seminar, "Expanding Beyond Puerto Rico" to explore the licensing and partnership opportunities available to local entrepreneurs. The seminar will be held on February 21st in Metro Office Park, Calle 1, Lot 18, Suite 500, Guayanbo, Puerto Rico (otherwise known as the Microsoft Caribbean Offices). The seminar is free of charge and will focus on how technology-based entrepreneurs can gain access to international markets from Puerto Rico.

The agenda includes such presentations as:

  • "The new PRIDCO", from Marcos Polanco, Director ICT Business Unit, PRIDCO
  • IP Venture Licensing Issues
  • Current State of CAFTA-DR
  • Growing your business through venture capital and other financing programs
To register contact Ana Nuñez, PRIDCO, (787) 758-4747, ext. 2120

Doing Business in Puerto Rico

On Thursday March 27th in the famous Waldorf Astoria Hotel, New York City, a host of Puerto Rican business and political leaders will host the "First Summit Doing Business in Puerto Rico". This initiative was the originated in the Puerto Rico Chamber of Commerce to attract new business opportunities to the island.

The summit will provide a wide panorama of the actual economic of Puerto Rico, emphasizing the legal aspects and local contributions that facilitate investment. In addition, the summit will illustrate how Puerto Rico has an advantage when compared to other states and foreign countries.

Presenters from Puerto Rico will include:
What was the motivation to create this event?
"No nos vamos a quedar cruzados de brazos observando cómo otros países con menos capacidades competitivas logran llamar la atención de inversionistas que diariamente están ávidos por hacer nuevos negocios."
Identified Manuel Mejía, President of the Puerto Rico Chamber of Commerce. Translation: We are not going to keep our heads up our butt when other countries with less competitive capabilities get all the attention. I mean it's just not fair, people like us. (He said throwing his hands up and then onto his hips.) Sorry for my bad transalation.

Soap box appeal

Rico, is this: If you are unwilling to invest in In a previous life I saw a presentation from the ambassador of Finland. (Finland, according to many experts has had one of the strongest economies in recent years.) He said that the key to the economic development of their country was the internal investment from private and government sources. The strategy we continue to try to follow here in Puerto Rico is the exact opposite. We believe that the only way to grow our economy is through external investment. My big questions and challenge to the top 400 locally owned companies in Puerto Rico to develop new business, why should anyone else?

Nx Level Business Start-up Course

The Small Business and Technology Development Center will host the Nx Level Business Start-up Course. The course is eight sessions long and teaches people who want to start a business and need the skills how to the test the feasibility of their business concept. During the course, participants will develop a business plan which will serve as a blueprint for their start-up venture.

The course will be Tuesdays and Thursdays, starting February 27th and will run until March 23rd. Each session will be from 2:00 p.m. until 6:00 p.m. in the SBTDC Training Room in the Union Plaza Building. To register call (787) 763-6811.

You would have to be DAFTA

The Constitutional President of the Dominican Republic, Dr. Leonel Fernández Reyna, will be in Puerto Rico on March 9th to discuss his vision of industrial economic development and the business synergies possible between Puerto Rico and the Dominican Republic. The cocktail and dinner will be held at the Hotel Caribe Hilton from 6:00 to 9:00 p.m. The cost of the event is $150 for members of Industrial Association of Puerto Rico. For reservations call (787) 641-4455, ext. 4655.

Signed by President George Bush in August of 2005, the CAFTA-DR, Central American-Dominican Republic Free Trade Agreement, creates the second-largest U.S. export market in Latin America, behind only Mexico, and the 10th largest U.S. export market in the world. CAFTA-DR (or affectionately known as DAFTA, well not really I just made it up) will immediately eliminate tariffs on more than 80 percent of U.S. exports of consumer and industrial products, phasing out the rest over 10 years. Eighty percent of CAFTA-DR imports already enter the United States duty free under the Caribbean Basin Initiative, Generalized System of Preferences and Most Favored Nation programs; the CAFTA-DR will provide reciprocal access for U.S. products and services.

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