Business Development after Scale Up Bootcamp

By Grupo Guayacán

"Don't be afraid of rejection" is the first thing that comes to José Lamboy's mind when asked what advice he has for other entrepreneurs who are in the process of taking their business to the next level. This young man oversees Pastelillos Lamboy, a family business of three generations dedicated to the production, sale and distribution of pastelillos, with a recipe book that includes more than 20 flavors. Its main operation in Manatí employs more than a dozen people, and its growth plan is to double production this year, which will require bringing in additional hands to support the manufacturing and confection of the product.

Reaching this point is the result of much effort and dedication, not only in the daily operation of the business but also in developing a vision of growth. To achieve this, José and his team participated in Scale Up Bootcamp 2024, a  business capacitation program offered by Grupo Guayacán in collaboration with Popular. The program provides technical assistance to companies that have surpassed the startup phase and need support to implement their sustainable growth plans. José, a Business Administration graduate, was not unfamiliar with business topics when he joined the program. But his participation in the Scale Up Bootcamp allowed him to chart an actionable growth plan for the family business. Pastelillos Lamboy was one of the 16 companies participating in the 2024 cohort of the program and, as a result, was awarded $50,000 in seed capital.

"Participating in the Scale Up Bootcamp was a transformative experience. The program helped us focus, overcome the fear of growth, and create concrete growth plans which we are now implementing," Lamboy explained.

As a requirement, companies participating in the Scale Up Bootcamp must have at least two years in operation, have reached a minimum of $500,000 in revenue, and have specific plans to scale their businesses. In Pastelillos Lamboy’s case, the company's executive team received the necessary training to structure those plans and focus on clear growth goals. One of these is the development of a distribution center that will allow them to double their food production, expand their presence in key sales points, and reach more consumers in Puerto Rico.

"The training you receive in these programs and the possibility of having access to capital are important. But it also creates a sense of community of insurmountable value. The connections we made and the relationships we have been building to drive the business forward are part of the experience and the great benefits we obtained," concluded Lamboy, who encourages  other entrepreneurs to participate in the program.

Precisely, Guayacán and Popular are actively recruiting entrepreneurs for their training and acceleration programs. Although the Scale Up Bootcamp is aimed at entrepreneurs with established businesses looking to explore growth opportunities, there are  programs for businesses in other stages. Grupo Guayacán is a non-profit organization that offers a series of business training and development programs for businesses at different stages of growth.

Among Grupo Guayacán's programs are I-Corps PR, Scale Up Bootcamp, and the Guayacán Venture Accelerator. In addition, the EnterPRize business competition is  accepting applications until March 19, 2025. For information on the requirements, you can click here.

For nearly three decades, Guayacán has supported more than 2,900 entrepreneurs and assisted nearly 1,000 companies in their development. In this way, it has created a network of businesses and entrepreneurs that, through the passing of time, have collaborated with each other, sowing the future of entrepreneurship in Puerto Rico.

If you want to learn more about the programs and program openings, you can write to info@guayacan.org. You can also follow Grupo Guayacán's channels on Facebook, Instagram, X, and LinkedIn or visit www.guayacan.org.

This article is for informational purposes only and does not constitute an endorsement or guarantee of accuracy or applicability for any particular purpose. Neither Popular, Inc. ("Popular") nor any of its affiliates, subsidiaries and/or related companies shall be liable for, any special, direct, indirect, or incidental damages including but not limited to loss of profits, that may arise from or be related to information or advice provided in this article, which was created by a third party. Popular provides financial services and is not dedicated (directly or indirectly) to providing any type of service related to the contents of this article. Should you require any service related to this content, you should seek the advice of a competent professional of your choice.