Endeavor and Mastercard spotlight Puerto Rico’s startup growth

Endeavor Puerto Rico and Mastercard have jointly launched Catalyzing Entrepreneurship & Innovation in Puerto Rico, a landmark report that offers the first comprehensive look at the island’s startup ecosystem. The study provides a data-driven roadmap to foster inclusive economic growth, positioning Puerto Rico as a strategic launchpad for innovation across the Americas.

Based on Endeavor’s Data Unit research encompassing over 500 active startups and founders, the report identifies key trends, challenges, and opportunities shaping Puerto Rico’s emerging entrepreneurial economy.

Puerto Rico: A Rising Hub for High-Growth Startups

The analysis reveals that Puerto Rico’s ecosystem is showing both resilience and rapid evolution. The island now hosts more than 500 startups, nearly 40% of which were founded in 2020, a testament to its adaptability amid economic and environmental challenges.

Startup revenues have also surged dramatically, jumping from a median of $75,000 in 2022 to $500,000 in 2024, underscoring the ecosystem’s maturation and a stronger growth trajectory.

According to founders, the top advantages of building companies in Puerto Rico include:

• Community and networking opportunities (24%) 
• And proximity to key customers and markets (23%)

Challenges and Opportunities Ahead

Despite this positive momentum, founders continue to face structural challenges. The report notes that 45% of entrepreneurs identify limited access to capital as a primary barrier, while talent retention and recruitment, especially for developer and sales positions, remain persistent hurdles.

Cristina Tamayo, Managing Director at Endeavor Puerto Rico, emphasized the importance of this research:

“As the first comprehensive scan of Puerto Rico’s entrepreneurial economy, the study provides critical insights into the island’s strengths and opportunities for growth,” she said. “It shows that despite limited capital market depth, 64% of Puerto Rican founders have secured funding and 82% have received mentorship, signaling a supportive ecosystem. With the support of partners like Mastercard, these findings highlight the continued growth and promise of entrepreneurship in Puerto Rico.”

Mentorship, in particular, stands out as a defining strength, 68% of mentored founders are Puerto Rican-born, reflecting a strong sense of community-led growth.

Mastercard: Strengthening Innovation and Inclusion

From Mastercard’s perspective, the report underscores a pivotal moment for the island.

“Puerto Rico’s entrepreneurial ecosystem is at a defining moment,” said Pablo Cuarón, Country Manager at Mastercard Puerto Rico. “While access to capital and specialized talent remain challenges, innovation and collaboration are fueling growth—particularly in sectors like fintech, healthtech, and resilience-tech.”

Cuarón added that Mastercard is working closely with Endeavor and local partners to bridge capital and talent gaps through initiatives that connect founders to digital tools, funding, and global networks.

Charting Puerto Rico’s Path to Global Competitiveness

Catalyzing Entrepreneurship & Innovation in Puerto Rico represents a significant step toward unlocking the island’s full potential as a hub for innovation and high-impact entrepreneurship.

By equipping entrepreneurs, investors, and policymakers with actionable insights, the report sets a foundation for collaborative strategies that can elevate Puerto Rico’s position as a launchpad for inclusive innovation across the Americas.