CABEI, the European Union, and the Government of Germany reward the most innovative ventures of the Agroinnova Program in El Salvador

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In 2023, the Agroinnova Program expanded its coverage by holding editions in San Salvador, San Vicente, and Sonsonate with the support of the DINAMICA II Initiative.

San Salvador, December, 2023.- The DINAMICA II Initiative of the Central American Bank for Economic Integration (CABEI), the Government of Germany, through KfW, and the European Union (EU) awarded the most innovative ventures that participated in the three editions of the Agroinnova business growth program, which were carried out between March and December of this year, in the departments of San Salvador, San Vicente, and Sonsonate.

These are Frutecla, Energy Fruit, and Ponche Brujo, who were recognized with US$3,000 each, among more than 80 participants in the food, beverage, and natural cosmetics industry, 57 of which are led by women.

Ponche Brujo, winner of first place in the Sonsonate edition, is a venture that markets artisanal punch in innovative presentations such as frappé and popsicles. “During the training process I learned new methods of preserving hot and cold products, as well as the importance of packaging; With the prize we won, we are going to invest in the necessary machinery to introduce a new product: the punch-based jet sorbet,” commented Emilio Velásquez, owner of Ponche Brujo.

The entrepreneurs participated in a training process to develop their entrepreneurial capacity through dynamic workshops that addressed topics such as customer characterization, value proposition, and prototype, costing, operations and production processes, sales projection and startup finance, and business model.

The Agroinnova program, created by the Foundation for Agricultural Technological Innovation (FIAGRO) in 2003, celebrated its twenty-third edition in San Salvador and, for the first time, held a call in San Vicente and Sonsonate, with the aim of expanding its coverage and accompanying to ventures with advice and training to support their business idea consolidation process.

The DINAMICA II Initiative is a tripartite effort of CABEI, the Government of Germany, through KfW and the European Union, which seeks to contribute to economic development and job creation in Central America, strengthening the business ecosystem for new, young, and innovative MSMEs, in addition to promoting adequate access to financial services.

To date, this Initiative has supported Salvadoran MSMEs with more than US$12 million in loans; has strengthened more than 98 micro and small enterprises with non-reimbursable resources from Small Donations; and has more than US$6 million for allocations in technical assistance to strengthen Business Development Centers and MSEs, as well as seed capital for ventures.