Incofin Foundation, a private foundation established in 2021 by Incofin Investment Management with the purpose of scaling social and environmental impact that complements the return of its investments, has recently launched a project funded by the Inter-American Development Bank’s innovation branch (IDB Lab), and supported by the GSMA, a global organization unifying the mobile ecosystem to discover, develop, and deliver innovation foundational to positive business environments and societal change.
The project “Innovation in Agtech and Digital Agriculture for Small Farmers” aims to improve smallholder farmers’ profitability, access to finance and markets, and climate resilience by catalyzing the capacity, investment readiness, and uptake of agtech solutions in six countries of Latin America: Bolivia, Colombia, El Salvador, Honduras, Paraguay and Peru. The project will launch an Innovation Call to identify 14 agtech solutions championed by agtech services providers or start-ups, financial services providers, agricultural cooperatives, and agribusinesses. GSMA’s experience in running innovation calls in the agtech field will constitute a valuable support for Incofin Foundation to select promising agtech solutions capable of providing high-quality services to smallholder farmers. The selected agtechs or projects will receive technical assistance grants and potential financing for piloting, rolling out, or scaling up services helping to amplify the potential of 30,000 smallholder farmers in increasing their profitability, climate-resilience, and gender equality.
This project with the Inter-American Development Bank, GSMA and their impact investor networks represents a strategic opportunity to engage with digital agriculture stakeholders in Latin America and promote technology as a tool to increase impact for smallholder farmers. Through this initiative, Incofin Foundation will seek to incorporate new pathways to address the challenges that the agrifood sector faces today for a better and more sustainable future.