UpCraft Club—the Des Moines-based e-commerce marketplace that sells digital sewing patterns—has joined an accelerator program in Puerto Rico, according to an announcement on medium.com.
According to the story, 34 companies from 12 different countries stay at the company headquarters in Santurce, San Juan Puerto Rico for the five-month program. They will be members of the cohort named “Gen. 4” by Parallel18, a startup accelerator program in Puerto Rico.
Parallel18 is a five-month program with two cohorts per year that offers $40,000 of equity free funding; Each cohort is 40 startups.
Alumni of the program can qualify for follow-on funding of up to $75,000.
Parallel 18 attracts startups that have been operational for three years or less from anywhere in the world. Companies need to have a functional protoype and traction. Plus, the founder of each startup must be willing to live in Puerto Rico for five months.
UpCraft Club is one of seven companies from the United States in “Gen. 4.”