Building Bridges: Puerto Rico Startups Connect with New York's Life Science Ecosystem

The founders from Puerto Rico spent the day at IndieBio New York for a “VC Co-Working Day,” including a panel for investors and founders exploring how founders, investors, and policy partners can work together to accelerate early-stage innovation.

A fall visit to New York City by 13 life science entrepreneurs from Puerto Rico marked a deepening partnership between the Puerto Rico and New York life science communities. 

As part of Governor Kathy Hochul's Life Science Exchange Initiative with Puerto Rico, the group joined a two-day IndieBio NY event, from September 29-30, that involved immersive and intensive networking with members of New York's renowned biotech community, meeting with investors, industry leaders, and fellow entrepreneurs. The exchange represented the latest milestone in a collaborative alliance announced by Governor Hochul and Puerto Rico Governor Pedro Pierluisi in November of 2023, designed to accelerate life science research and innovation across both regions. 

From Bootcamp to Boardroom 

The New York gathering built directly on momentum from an exchange earlier this year in Puerto Rico—a successful entrepreneurial bootcamp, held in San Juan from February 25-27, that featured IndieBio's signature programming. To help facilitate this next step, Empire State Development, New York's chief economic development agency, partnered with IndieBio NY, an early-stage deep-tech investor, to bring the 13 visitors to its September event. The entrepreneurs are startup founders from BioLeap, Puerto Rico's life science and STEM incubation program, managed by parallel18 under the Puerto Rico Science, Technology, and Research Trust. 

During their September visit, the founders put their newly acquired skills to work, connecting with New York's thriving life sciences community at an event that united key stakeholders—from venture capitalists and academic researchers to policymakers—all focused on facilitating investment opportunities that benefit both Puerto Rico and New York. 

Immersive Learning and Real Connections 

The two-day agenda offered founders a comprehensive look at what it takes to succeed in today's competitive biotech landscape. Participants honed their elevator pitches in interactive workshops, toured cutting-edge incubators and entrepreneurial research centers in West Harlem and across New York City, and sat down with venture capital investors to discuss funding strategies. 

An event highlight:  a panel discussion exploring how local capital shapes global biotech hubs, featuring insights from Pranita Atri of Nucleate NY, Ariella Trotsenko of NYC Innovation Hot Spot, and Monica Malowney of NYCEDC. Their conversation underscored the vital role that regional investment plays in building sustainable innovation ecosystems. 

The visitors left New York with crucial skills for managing startups effectively and raising the capital needed to bring their visions to life. They also discovered the many ways New York State supports fledgling biotech companies through its $620 million Life Science Initiative, as well as other programs that support life science companies, such as NY Ventures and NYSTAR. They also witnessed firsthand what a mature life science ecosystem can offer emerging entrepreneurs. 

Loretta Beine, Senior Director of Industry Development in ESD’s Strategic Business Division, presented on how ESD supports new businesses.

Partnerships That Transcend Borders 

The successful exchange reflects a shared commitment to breaking down barriers and building connections that accelerate scientific progress and economic development. 

"SOSV's IndieBio team in New York was delighted to host these life science founders for the second phase of Governor Hochul's Life Science Exchange Initiative with Puerto Rico," said Sean O'Sullivan, Managing General Partner of SOSV/IndieBio/HAX. "It was exciting to watch them put into practice the skills they learned during our entrepreneurship bootcamp in San Juan earlier this year. We expect this collaboration with ESD will yield great companies that advance human and planetary health." 

Eng. Lucy Crespo, CEO of the Puerto Rico Science, Technology, and Research Trust, emphasized the initiative's broader impact: "This initiative reflects our long-standing commitment to building global bridges for Puerto Rico's innovation ecosystem. By connecting our startups with world-class partners like IndieBio and Empire State Development, we're not just accelerating science, we're unlocking economic development opportunities for the island." 

Dr. Héctor Jirau, Executive Director of parallel18, captured the collaborative spirit driving the partnership: "At parallel18, we believe startups grow faster when ecosystems grow together. This partnership with IndieBio NY proves what's possible when borders don't limit innovation, and when our founders are given the opportunity to lead on a global stage." 

Looking Ahead 

The Life Science Exchange Initiative demonstrates how strategic partnerships can create opportunities that benefit multiple communities simultaneously. By connecting Puerto Rico's talented entrepreneurs with New York's established biotech infrastructure, investment networks, and research institutions, the program is fostering collaboration that promises to yield breakthrough innovations in health care, sustainability, and beyond. 

The 13 founders returned to Puerto Rico armed with new skills, connections, and insights that carry the potential to transform not only their own ventures but the broader life science landscape across both regions. And this is just the beginning—the alliance between New York and Puerto Rico continues to strengthen, paving the way for future exchanges, investments, and innovations that will shape the future of biotechnology 

About New York State's $620 Million Life Science Initiative 

In 2017, New York State launched a $620 million initiative to establish a world-class life science research cluster and expand commercialization capabilities statewide. The initiative includes $320 million in strategic programs to attract new technologies, promote public and private investment, and create life science businesses and jobs. Encompassing biotechnology, pharmaceuticals, biomedical technologies, and life systems, the life science sector drives critical advancements in medical breakthroughs, pharmaceutical innovations, and sustainable biotechnologies. By strengthening incentives, investing in facilities, and improving access to talent and expertise, New York aims to increase industry-funded research, accelerate academic commercialization, attract emerging manufacturing enterprises, and position itself as a national leader in life sciences while creating thousands of high-quality jobs. For more information, visit https://esd.ny.gov/industries/biotech-and-life-sciences.