1. What is a startup?

Innovative ventures with high potential for impact, accelerated growth and high scaling potential.

2. What is a technology-based company?

A company that delivers to the market products, services or forms of marketing supported by scientific research and/or technological development processes, implemented totally or substantially within the company.

3. What is a Minimum Viable Product (MVP)?

It is the prototype of a new product, process, service or form of marketing that allows testing the functionalities with potential clients, and collecting and validating the greatest amount of information (learning) that justifies paying for it.

4. What is a business incubator?

It is an organization whose purpose is to generate environments and scenarios that promote and facilitate the formation of successful, intelligent, sustainable companies with high levels of cooperation and networking, capable of generating employment and development in their environment.

1. Do you need to be part of the UNMSM to apply?

No. The program is open to the public from anywhere in the world.

2. What stage is most appropriate for my startup to apply?

Entrepreneurial team with a Minimum Viable Product developed with some type of traction (users, clients, etc.).

3. Is 1551 an incubator?

Yes

4. How many startups do you accept per program?

1551 accepts a maximum of 10 startups per program

5. What is the structure of the program?

The program is virtual and has the following structure: 1st month: Validation; 2nd month: Optimization; 3rd month: Consolidation, from the 4th to the 6th month: Follow-up, and ends with a Demoday.

6. What are the benefits of participating in the program?

Benefits include educational modules and business mentoring, access to capital, events, mentoring, co-creation with users and clients, as well as technological resources from UNMSM. The program ends with a Demoday.

7. What is the profile of the companies you are looking for?

We are looking for startups with a technological base and a positive impact that solve problems in sectors such as Health, Education or Agro-food. They may have a completely digital solution or a technology-enabled product/service.

We look for startups with a developed MVP and some kind of traction, but we are open to accepting less mature startups if the team and the idea are relevant.

8. If my startup is not Healthtech or EdTech or Ag&Foodtech, can I apply?

Yes

9. Does 1551 take “equity” in my startup?

No

10. Do I need to be in Lima to apply for the program?

No, we accept applications from all over the world. Even if you are accepted into the program you will be able to follow it virtually

11. Do I have to stay in Lima during the 6 months that the program lasts?

No. The program is virtual so it is not necessary to be physically present, it is divided into 3 intensive months and 3 follow-up months.

12. How much time is required of entrepreneurs during the program?

We only ask them for 10 hours a week.

13. Does the entire team have to be present during the entire incubation program?

It is not necessary for the entire team to participate, however, it is essential that one founder be present throughout the program.