Four Costa Rican companies awarded LuxAid Challenge Fund co-financing
Four innovative Costa Rican companies have secured nearly EUR 480,000 in co-financing from the LuxAid Challenge Fund, unlocking a total investment of EUR 1.49 million to accelerate innovation in sustainable agriculture and food systems.
The awarded companies were officially presented during a ceremony held on 29 September in San José, attended by María del Milagro Solórzano León, Minister of Economy, Industry and Commerce (MEIC), alongside representatives of the Luxembourg Cooperation, including Charles Schmit, Chargé d’affaires at the Embassy of Luxembourg to Costa Rica, and Frank Wolff, LuxDev’s Regional Representative for Latin America and the Caribbean.
Selected through a highly competitive process involving 137 initial opened applications, BioVENKO, Guerrero Agrícola, Cultura Fungi and BioConversión will receive nearly EUR 120,000 each in non-repayable co-financing from Luxembourg. Combined with the companies’ own investment, the four projects will mobilise a total of EUR 1.49 million to scale up market-based innovations and strengthen the resilience and sustainability of Costa Rica’s agricultural and food systems.
The ceremony celebrated the entrepreneurial talent and innovative solutions emerging from Costa Rica’s private sector, and marked the beginning of a new phase of collaboration between the selected companies and the Luxembourg Cooperation.
Meet the four winning projects
BioVENKO
Developing microbiological solutions based on naturally occurring microorganisms to help farmers reduce dependence on conventional pesticides and better manage pests and diseases.
Guerrero Agrícola
Expanding a sustainable agricultural model that connects producers with bio-inputs, technical assistance, collection services and market access, helping to increase the availability of sustainably produced food.
Cultura Fungi
Using a circular economy approach to transform agricultural by-products into inputs for the cultivation of gourmet and functional mushrooms, while reintegrating waste back into the production cycle.
BioConversión
Scaling up BIOCRISOL, a technology that converts agricultural residues into renewable energy and biochar, creating value from waste while contributing to more sustainable production systems.
With the awards now officially presented, the four companies will move into the implementation phase of their projects, supported by the LuxAid Challenge Fund as they bring their innovative solutions to the next stage of development and impact.
About the LCF
The LuxAid Challenge Fund is financed by the Grand Duchy of Luxembourg and implemented by LuxDev, the Luxembourg Development Cooperation Agency.
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