POSiBLE aimes to inspire and empower Latin@ entrepreneurs in Los Angeles. Televisa Foundation and Univision 34 launched the POSiBLE Entrepreneurship Program in the first semester of 2017. Offering training, access to resources and more opportunities to take the Latino startups or business ideas to the next level.
From March to May 2017, over 1000 participants registered in the program and developed their business models on our online platform. Our network of partners reviewed all the business models completed on the platform. Our partners include The California State Polytechnic University; University of Southern California; the LAEDC -Los Angeles Economic Development Corporation; The Inland Empire Center for Entrepreneurship –IECE- and the SBDC – Small Business Development Center. Professors, advisors and other staff from each partner organization participated as evaluators and selected 40 projects to pitch on a live panel.
The 40 projects selected presented their startups in one of the two pitch panels during the POSiBLE LA Entrepreneurship Summit, powered by Univision, held on May 20th. At the event, we had judges from Make in L.A, Expert Dojo, 500 startups, Vamos Ventures; The Association of Mexican Entrepreneurs, The City of Downey, SBDC, among others. The judges chose 11 projects at this stage as finalists.
The 11 startup finalists attended the POSiBLE three days boot-camp from June 15th – 17th. At the Bootcamp they validated their business model, strengthened their customer acquisition strategy, learned about early stage funding options and prepared a pitch. During the three days, there were 14 workshop sessions with entrepreneurship and business experts.
Once the 11 entrepreneurs went through the Bootcamp, on June 29th they presented their business pitches in a demo session to investors, incubators, accelerators and small business programs. They received feedback and created valuable contacts for their next steps. At the event, we had the participation of members from de Mexican Entrepreneurs Association, 22 Capital Group, Los Angeles Cleantech Incubator, the Small Business Developing Centers, Los Angeles Small Business Department, among others.
The finalists completed a 5 months mentoring program, where each startup had a dedicated mentor to guide and support them.