The 2017 POSiBLE program in Los Angeles aimed to inspire and empower Latinx entrepreneurs. Televisa Foundation and Univision 34 launched the POSiBLE Entrepreneurship Program in early 2017 to offer training, access to resources and more opportunities to take the Latinx startups and business ideas to the next level.
From March to May 2017, more than 1,000 participants registered for 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 Los Angeles Economic Development Corporation (LAEDC), the Inland Empire Center for Entrepreneurship (IECE) and the Small Business Development Center (SBDC). Professors, advisors and other staff from each partner organization participated as evaluators and selected 40 of the best projects to be pitched during a live panel.
The 40 projects selected presented their startups in one of two pitch panels during the POSiBLE LA Entrepreneurship Summit on May 20th, powered by Univision. 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 and more. The judges chose 11 of the 40 projects to compete as finalists.
The 11 finalists attended the three-day POSiBLE bootcamp from June 15th – 17th. During the bootcamp, they validated their business model, strengthened their customer acquisition strategy, learned about early stage funding options and prepared a business pitch. During the three days, there were 14 workshop sessions facilitated by entrepreneurship and business experts.
Following the bootcamp, the 11 entrepreneurs presented their business pitches in a demo session to investors, incubators, accelerators and small business programs on June 29th. They received feedback and created valuable contacts for their next steps as entrepreneurs. Participants at the event included the Mexican Entrepreneurs Association, 22 Capital Group, Los Angeles Cleantech Incubator, the Small Business Developing Centers, Los Angeles Small Business Department and many more.
Following the program, the finalists completed a five-month mentoring program, in which each startup worked with a dedicated mentor who helped to guide and support them.