Spotery, a Puerto Rico Founder Institute graduate, was recently profiled as Puerto Rico’s most exciting early-stage technology startup, in an article on Inc titled “An Inside Look at the Biggest Startup Hub You’ve Never Heard Of”.
Spotery is a startup that aims to change the way people connect with spaces by giving them options that are accessible and easy to book. Spotery provides an engine for searching and booking spaces, and they also allow of the booking of services like security, cleanup insurance and many other event needed services, making things easier and more convenient for event organizers.
According to the Inc article, Puerto Rico is developing a nascent but increasingly vibrant startup ecosystem to help revitalize a devastated local economy. Puerto Rico’s startup community has some very exciting stories and proponents and may be a key future driver for the economy.
As recounted by Inc, one of the rising startups from Puerto Rico’s ecosystem is Spotery. Puerto Rico's Export Authority and local investors recognized their potential early, sending Spotery to SXSW 2014, a full-year before launch, to tell an exciting story. The same leaders then invited east coast investors to the H3 Conference in San Juan to hear pitches, and ensured Spotery a featured slot, precipitating interest from investors.
Combined with interest from San Juan Tech Meetup and local angels, that could lead to notable funding. The product launched November 22, so while it is still in the developing stages, the exciting buzz around this story and others shows the clear interest and potential of early-technology here, and the local interest in it.
As an incentivized startup, we have great economic development advantages, among them are, a 4 percent fixed income tax rate, 50 percent marketing match and a 50 percent tax credit on R&D expenses--which can be sold for improved cash flow and serves as an excellent tool to attract potential investors. It's an exciting ecosystem," said Spotery's CEO, Ricardo Davila.
With startups such as Spotery, it looks like the future is bright for Puerto Rico’s newly developed startup ecosystem.
The original article was published in Inc titled "An Inside Look at the Biggest Startup Hub You’ve Never Heard Of” and was written by Paul Grossinger.
