Frequently Asked Questions
Curious what Renovatio PR can do for you?
With a focus on crypto assets trading, trading and fintech applications, and financial product innovation, we enable startups and their success. We provide seed funding, a focused environment, a community of fintech innovators, expert advice and minimal interference. Learn more.
Apply here. We are currently evaluating applications on a case-by-case basis and will launch our first formal startup batches in 2019.
Renovatio PR will invest $120,000 in return for 7% of the company’s equity. This may change on an exceptional basis, but for the majority this is the standard amount.
Not for Renovatio PR. Our funding decisions are based on the application form and personal interviews. Demos are great, but business plans aren’t necessary.
As most venture firms at this stage, we will not sign an NDA. An informal commitment to secrecy, which is stated in our application, is more than most venture capitals would make.
The short answer is yes.
When you are backing as many founders as we do, it’s inevitable to end up with overlay in ideas. Even if we tried to not accept competing companies, ideas tend to morph and would eventually turn into overlap anyway. However, we will not talk to a startup about what the other is doing when they have similar concepts. This hasn’t been an issue in the past since most markets have room for several slightly different solutions and it is unlikely that two startups will end up doing the exact same thing.
Of course! We can help startups that haven’t already raised a series A round of venture capital financing. However, try to avoid incorporating. It will be easier to start with our documentation than to transfer an existing LLC to a corporation.
Absolutely. We fund many startups that have.
Several of the startups we fund don’t need the money and, actually, money is only a small part of what Renovatio PR does. We want to ensure that the companies who need money can cover their expenses while working with Renovatio PR.
Don’t worry, we will still fund you. However, our goal will be to build an impressive proof-of-concept to take to our network of investors to raise more money, rather than trying to build something launchable in three months.
Yes, we often accept single founders. However, startups with one person can be difficult so we suggest a cofounder to help you succeed.
Renovatio PR welcomes international startups and will diligently work with you to reach your full potential in the U.S. Our collaborative community houses talents, mentors and partners to help you gain pertinent information to mold your business. We hold sessions to sharpen your focus, make connections, and promote your company, and act as your introduction to the Silicon Valley of Puerto Rico.
Unfortunately no. We are helping grow the economy in Puerto Rico by building businesses, like yours, so it would need to be in person. It would be acceptable to leave one founder at home, but the rest, including the CEO, must live in Puerto Rico during the three-month funding cycle.
No, but if you’ve started your company outside the U.S., we will help you convert it to a U.S. company. You may also need to look into foreign counsel.
No, we aren’t directly involved with the visa process, but we have a mailing list of offshore founders who are happy to supply advice, and we will refer you to immigration lawyers they may have worked with. Getting a visa for the three months is rarely a problem, and U.S. citizens will not need a visa for Puerto Rico.