What is Partnership for Modern Puerto Rico (PMPR)?
Partnership for Modern Puerto Rico is a community of socially conscious impact investors who joined forces to collaborate for the modernization of Puerto Rico.
Why was Partnership for Modern Puerto Rico formed?
Partnership for Modern Puerto Rico formed because there was an unmet need for a mechanism to encourage collaboration between private sector leaders and investors that have the capacity and desire to influence the future of Puerto Rico positively. Collaborators include the traditional impact investors within Puerto Rico, new residents to Puerto Rico as a result of Acts 20, 22, 273, and 399, and a strong diaspora force.
This group has come together with a shared vision to make Puerto Rico an attractive place to live and do business, by aggressively promoting in areas where the government does not reach, by educating the general public of the unique opportunity that all this collaboration brings to Puerto Rico, and to develop the economic model of Puerto Rico, what is the real future of Puerto Rico as it presents itself to the world.
Are there similar organizations to PMPR?
Members of the Partnership for Modern Puerto Rico are also involved with different organizations; however, no other organization exists in Puerto Rico that shares the vision and mission of the Partnership.
What are the critical priorities for PMPR in Puerto Rico?
Our initial objectives include:
Propelling the economic development of Puerto Rico via the private sector, leveraging government bodies as a facilitator
Attracting more human and financial capital to Puerto Rico
Raising awareness of the social issues in Puerto Rico and aligning efforts to effect change
Defining where Puerto Rico fits in the current economic development world
Awakening members to the unique and powerful opportunity that Puerto Rico faces in this economic inflection point, by taking a hard look at previous inflection points in the history of Puerto Rico’s modern economy.
How does PMPR plan to affect change outside of Puerto Rico?
PMPR plans to affect change outside of Puerto Rico by engaging with the socially conscious impact investors of the diaspora. We aim to encourage and promote more projects like Red Venture’s FWD 787 campaign and Lin-Manuel Miranda’s Hamilton production in Puerto Rico. Projects like this help create awareness of the possibility of exporting services from the island and support our goal of creating a world-class emerging economy.
How does PMPR measure and communicate progress?
The partnership measures progress by:
Member engagement and impact
New ventures and investments established in collaboration with member support
An increase in skilled workers and professionals who have relocated to the island and working within local companies
We communicate progress via:
Member meetings
The Partnership’s internal and secure digital platform
What is PMPR’s membership profile?
Members of the Partnership for Modern Puerto Rico are socially conscious impact investors from a variety of backgrounds and disciplines, all with a shared vision to help Puerto Rico become a world-class emerging economy.
How many members are there and what are their aggregate assets?
As of 2018, we have 50 members with an aim to reach a critical mass of 100 socially conscious impact investors. Of the first 50 members, total aggregate assets under management surpassed 20 billion dollars.
Who leads Partnership for Modern Puerto Rico?
Alberto Bacó-Bagué, an accomplished business executive and former public policy official, leads Partnership for Modern Puerto Rico.
Are there sub-groups within Partnership for Modern Puerto Rico?
At the heart of the Partnership for Modern Puerto Rico is the concept of business clusters, groups organized to include members with specific interests, skill sets, and experience. With more than fifteen business clusters, the Partnership aims to diversify and channel its impact in Puerto Rico’s economy.
Partnership for Modern Puerto Rico’s business clusters can range from one to ten people focused on the modernization of Puerto Rico via specific social or business sectors.
How many members are in a business cluster?
Members of the Partnership for Modern Puerto have access to a private and closed internal platform facilitating secure communication between members.
What are the private online resources available to PMPR members?
Partnership for Modern Puerto Rico is a closed group. The focus of Partnership for Modern Puerto Rico is measurable impact via collaboration. When communicating externally about the Partnership’s success, we focus on initiatives and traction. We do not promote individual member involvement. Cooperation among members is conducted in members-only meetings or via our secure digital platform.
What does PMPR do to protect privacy?
Partnership for Modern Puerto Rico is a not-for-profit organization and is by invitation only. There are several membership levels dependent on a member’s desired level of engagement. Membership fees contribute to facilitating closed, members-only networking events and supporting our internal digital communications platform, managed by a world-class secure third-party network.
How much does membership cost and what is covered?
Executives interested in becoming a member of Partnership for Modern Puerto Rico can submit an inquiry via partnershipformodernpr.org. The Partnership's executive committee will review applications on a rolling basis and during scheduled meetings.
What is the process to become a PMPR member?
Partnership for Modern Puerto Rico was founded to facilitate collaboration and at the heart of the organization is the concept of clusters, groups organized to include members with specific interests, skill sets, and experience. With more than fifteen clusters, the Partnership aims to educate, diversify and channel its impact in Puerto Rico’s economy.
Why is the group experience so valuable?
At the beginning of every calendar year, the executive committee meets to determine the schedule of meetings. Core activities of the Partnership will be scheduled for four specific weeks throughout the year.
The executive committee will add new networking experiences to the schedule on an ad-hoc basis, but the core activities will remain as scheduled at the beginning of the year.
How is the schedule of meetings determined?
Currently, there is no meeting requirement, but every member's participation and engagement is critical to the success of the initiatives of the Partnership. At the very least, members are encouraged to attend half of the core activities per year.
How many meetings am I required to attend per year?
The world-class presenters invited to member networking events can only be welcomed by an existing member who can assure the presenters have the qualifications and experience relevant for the PMPR member audience. The executive committee will ultimately determine the presenters at PMPR networking events.
What types of presenters will be invited to PMPR meetings?
Yes, Partnership for Modern Puerto Rico has corporate sponsors. However, corporate sponsors are only accepted if C-Suite executives from the sponsor organization are involved in or aware of the mechanics of the sponsorship and PMPR member confidentiality and privacy.
Does PMPR have corporate sponsors?
Yes, the Partnership accepts service providers as members. However, providers are segmented into a “Solutions Provider” business cluster with limited engagement and cannot exceed more than ten percent of the total membership population.
Does the Partnership accept service providers as members?
The Partnership defines service providers as dedicated practitioners with a reputable business and ability to provide relevant and premium services requested by socially conscious impact investors of Acts 20, 22, 273, and 399.