Puerto Rico Science, Technology and Research Trust

Puerto Rico Science, Technology and Research Trust
Name	Puerto Rico Science, Technology and Research Trust
Founded	2004
Founders	Pedro Rosselló, Pedro Carlo, Orlando Bravo
Type	Nonprofit organization
Headquarters	San Juan, Puerto Rico

Puerto Rico Science, Technology and Research Trust is a private nonprofit organization created to promote science, technology, research and innovation on the island. It was established to catalyze collaboration among academic institutions, private industry, and public entities such as Puerto Rico Industrial Development Company, with an emphasis on translating research into commercialization and economic development. The Trust has engaged with local actors including University of Puerto Rico, InterAmerican University of Puerto Rico, and international partners like National Institutes of Health, National Science Foundation, and World Bank-associated programs.

History

The Trust was incorporated in 2004 following legislative action tied to economic initiatives championed by figures such as Pedro Rosselló and policy recommendations from institutions like Harvard University-affiliated studies and Puerto Rico Planning Board reports. Early collaborations included partnerships with University of Puerto Rico Medical Sciences Campus, Moffitt Cancer Center, and corporate stakeholders such as Pfizer and Johnson & Johnson. During the aftermath of Hurricane Maria (2017), the Trust coordinated recovery efforts with organizations including FEMA, Clinton Foundation, and Bill & Melinda Gates Foundation-supported programs to restore laboratory capacity and telecommunications links. Over time the Trust aligned activities with regional initiatives like Caribbean Export Development Agency and federal programs administered by U.S. Economic Development Administration.

Mission and Governance

The stated mission emphasizes commercialization and workforce development, aligning strategic priorities with partners such as Small Business Administration, Puerto Rico Department of Economic Development and Commerce, and academic centers like Mayo Clinic-affiliated collaborators. Governance is overseen by a board of directors drawn from sectors represented by leaders from Amgen, Blackstone Group, Banco Popular de Puerto Rico, Microsoft, and university presidents from InterAmerican University of Puerto Rico and University of Puerto Rico. Executive leadership has engaged advisors from think tanks including Brookings Institution and American Enterprise Institute while coordinating with regulatory stakeholders like U.S. Food and Drug Administration on research compliance.

Programs and Initiatives

The Trust operates accelerators, seed funding competitions, and talent pipelines modeled after programs like Y Combinator and Techstars, adapted to local needs with partners such as Parallel18 and Hubspot-connected training. Initiatives include life sciences commercialization similar to efforts at Broad Institute and Cold Spring Harbor Laboratory, energy resilience programs echoing work at National Renewable Energy Laboratory, and digital innovation workshops referencing curricula from Massachusetts Institute of Technology and Stanford University. Sector-specific programs have linked startups to investors including Sequoia Capital, Andreessen Horowitz, and family offices associated with Goya Foods and Bacardi. Workforce development collaborations included medical training with Mayo Clinic and biotechnology internships in partnership with Genentech and Eli Lilly.

Research and Innovation Infrastructure

The Trust has supported physical infrastructure development such as incubator spaces, wet labs, and co-working facilities sited near research anchors like University of Puerto Rico Medical Sciences Campus and clinical partners including HIMA San Pablo Health. Infrastructure efforts mirror models used by Research Triangle Park and Cambridge Science Park, with investment in laboratory equipment standards promoted by American Society for Microbiology and Association of American Medical Colleges. The Trust also played roles in broadband and data initiatives in coordination with AT&T and Puerto Rico Telephone Company to ensure connectivity for research centers, and partnered with logistics stakeholders such as Puerto Rico Ports Authority to streamline export of biologics and devices.

Funding and Partnerships

Initial capitalization drew from a mix of philanthropic, corporate, and public sources, influenced by models from Bill & Melinda Gates Foundation grants and venture philanthropy trends exemplified by Rockefeller Foundation. The Trust has administered competitive grants and matched investments with federal awards from National Institutes of Health, Economic Development Administration, and tax-credit programs modeled on incentives used by Research Triangle Park affiliates. Corporate partnerships have included strategic relationships with Amgen, Pfizer, and financial partners like Goldman Sachs and Banco Santander Puerto Rico. International collaborations have connected the Trust to networks such as World Bank programs and the Organisation of Eastern Caribbean States-related initiatives.

Impact and Recognition

The Trust has been credited with helping create startups that attracted series A and later-stage investments from firms like Sequoia Capital and Andreessen Horowitz, and with advancing clinical research trials in collaboration with National Institutes of Health and Moffitt Cancer Center. Recognition has come through awards and acknowledgments from entities including Fast Company-style innovation lists, honors from Puerto Rico Chamber of Commerce, and citations in policy reports by Brookings Institution and Congressional Research Service. Its recovery work after Hurricane Maria (2017) and contributions to talent retention have been cited in case studies by Harvard Kennedy School and MIT-affiliated initiatives. The Trust’s networked approach continues to influence regional innovation strategies across the Caribbean Community and in partnerships with major research and philanthropic institutions.

Category:Science and technology organizations