Mastercard, Rural LISC, and Nest Partner to Support Small Businesses in Puerto Rico
September 3, 2025 | San Juan, Puerto RicoToday, the Mastercard Center for Inclusive Growth (through Mastercard Strive), Rural LISC, and Nest announce the winners from the small business pitch competition held at the annual Boricua Emprende Fest (BE Fest) on August 29 at the Puerto Rico Convention Center. Mastercard Strive is a portfolio of philanthropic programs supported by the Mastercard Center for Inclusive Growth.
The BE Boricua pitch competition is the most recent example of each organizations’ focus on helping small businesses grow capacity, build resilience, and thrive from receiving creative support and resources. To date, 1.7 million small businesses across the country have been reached through products and services offered through the coalition’s more than 30 private and government partners.
In Puerto Rico, Rural LISC’s Business Development Organization (BDO) network includes BE Fest host Puerto Rico Science Technology & Research Trust and its programs Colmena66 and Fase1 and key partners such as Causa Local, Centro para Emprendedores, Grupo Guayacán, The Enterprise Center at PathStone, The National Puerto Rican Chamber of Commerce and Jump All In! by Lote23. The organization also works closely on the island with organizations like co-sponsor Nest who invests in and supports handcraft artisans.
“Rural LISC is thrilled to continue our commitment to enhancing opportunities for small businesses in rural communities, including those across the island,” said Nadia Villagrán, vice president of LISC and director of Rural LISC. “We know that access to resources and visibility for small businesses are key to a stronger entrepreneurial ecosystem, particularly among food-entrepreneurs, artisans, and early-stage businesses. With support from Mastercard Strive, Rural LISC has strengthened its Rural Business Development Organization (BDO) network to support more than 4,500 small businesses, providing 1:1 consultation and grants across the country.”
“At Mastercard Puerto Rico, we are dedicated to driving the island’s digital transformation not only through innovation but by forging strong partnerships with local entrepreneurs and business incubators,” said Pablo Cuaron, Country Manager for Mastercard Puerto Rico. “Through the Mastercard Strive program and collaboration with Rural LISC and organizations like Colmena66, Lote23, and Puerto Rico Science, Technology & Research Trust, we empower small businesses, including entrepreneurs and early-stage ventures, to access essential resources, scale their ideas, and achieve sustainable growth.”
At the BE Boricua pitch competition, 15 finalists from more than 120 small business applicants competed for $12,500 in total cash prizes, in three categories.
The winners are:
Art with Purpose, for creative, handcrafted products
First Place: Tropi Shack
Second Place: Kawaii Con PR
Third Place: SanArte con Rosa
Puerto Rican Flavor, for food-based businesses or “foodpreneurs” elevating Puerto Rican gastronomy
First Place: ¡Qué BOLLO!
Second Place: La Wagon
Third Place: Del Palo al Pote
Ideas with Impact, for products and services across other industries
First Place: Ciegos con Visión
Second Place: PIVET
Third Place: Milo
Each first-place winner will receive $1,800, second-place winners receive $1,000, and third-place finalists win $800. Among the first-place winners, one will be selected for the *Golden Hive Award, receiving an additional $1,700, in financial support and in-kind mentoring from Visions Bridge.
Several key factors were considered in judging entrepreneurs, including if an industry or business problem was clearly identified and effectively addressed, potential for profitability, and presentation.
“From the Puerto Rico Science, Technology, and Research Trust, we promote Boricua Emprende Fest as a platform for our business community to be inspired, connect, and access tools that foster growth. In this seventh edition, we reaffirm our commitment to innovation, collaboration, and economic development in Puerto Rico, creating a space where ideas become real opportunities. In this way, through entrepreneurship, we strengthen our mission to make Puerto Rico a globally recognized center of innovation," said Lucy Crespo, CEO of the Puerto Rico Science, Technology, and Research Trust.
Additional Information:
Read more about the Mastercard Strive, Rural LISC grant and partnership, https://www.lisc.org/rural/regional-stories/mastercard-awards-rural-lisc-15m-support-small-businesses/.
About the Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.
About Mastercard Strive
Mastercard Strive is a portfolio of philanthropic programs supported by the Mastercard Center for Inclusive Growth and funded by the Mastercard Impact Fund. With programs around the world, Mastercard Strive has reached more than 18 million small businesses to go digital, get capital, and access networks and know-how. Follow Mastercard Strive on LinkedIn and subscribe to its newsletter.
About Rural LISC
Launched in 1995, Rural LISC is the rural component of Local Initiatives Support Corporation (LISC), the largest community development support organization in the country. Through a partnership base of more than 150 organizations across all 50 states and three U.S. territories, Rural LISC provides a wide range of services, including capacity-building grants and loans, training, technical assistance and public policy advocacy. To date, Rural LISC has leveraged more than $3 billion from public and private sources to produce more than 57,700 affordable homes and apartments, more than 9 million square feet of commercial and community space, including 20 early childhood care centers, and has provided technical assistance to support more than 2,900 businesses, resulting in more than 24,000 jobs supported and/or retained. Rural LISC also supports 15 rural-based Financial Opportunity Center® programs by providing financial counseling, education, training and other employment services to thousands of residents. Rural LISC is committed to investing in rural communities as great places to live, work, learn, visit and do business. Learn more at www.lisc.org/rural.
About Nest:
Nest is a nonprofit committed to helping the US and global craft communities grow and thrive. We understand the importance of handcraft and the meaning it can hold for every life it touches. That’s why we connect a community of artisans, retailers and philanthropies to bring the full beauty of craft to the world.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions safe, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
