Open Call for Green Technology Startups with an Emphasis on Biomaterials in Costa Rica

For the third time, the Greentech program is looking for green technology startups in Costa Rica to accelerate their innovation processes and international presence. This initiative is led by the Crusa Foundation, Cinde, and the Foreign Trade Promoter of Costa Rica (Procomer). In collaboration with the regional incubator Pomona Impact.

Greentech seeks to scale business models of companies in the bioeconomy sector, with an emphasis on biomaterials, and support their preparation for raising capital.

The general manager of Procomer, Pedro Beirute, pointed out that Greentech seeks to turn Costa Rica into a global laboratory for green innovation. “The idea is to increase the chances of companies to become stable and successful firms. Also that they are financially viable, with the potential to raise capital and scale their operations in the international market.This undoubtedly translates into a direct benefit to the country, through the strengthening of our exportable supply,” Beirute commented.

The details

Registration for the new call will be open until May 27^th. The companies that are selected will have access to a 12-week incubation program, through group sessions and individual specialized mentoring between July and next September.

In addition, after the support program, companies will have the opportunity to access reimbursable capital for average amounts of $50,000.

To enter the selection process, startups must meet the following requirements:

• To be a company that develops technological solutions with a positive environmental impact. For example: waste management, circular economy, increased efficiencies in the use of biological resources, use of alternative energies, improvement of the conditions of the flora/fauna, among others.

• Priority will be given to those companies that totally or partially incorporate biological sources such as plants, trees, animals, fungi, among other biomaterials in their process or solution.

• Provision of a minimum viable product or service that shows high innovation in its value proposition, in its key technology or in its business model or impact.

• Sales record in Costa Rica, with high export or internationalization potential.

•  Companies seeking financing and that are willing to receive investment through risk capital mechanisms.

• In addition, along with the registration form, interested persons must send an executive summary of their company.

For more information about the program requirements and the registration form, interested persons can go to www.pomonagreentechcostarica.com

Potential for Costa Rica

Jorge Sequeira, CEO of Cinde, highlighted the coordination agreement between the institutions to accompany and accelerate the growth of companies towards sustainable models. But also those scalable and disruptive ones that direct our country to be a hub of solutions and innovation based on nature.

“Costa Rica has 6% of the world’s biodiversity and this program becomes a platform for the development of new materials taking advantage of that natural wealth.

“This is a transformation of the dynamics of competitiveness that invites national enterprises to develop greater intellectual and technological capital for the world. With the enormous possibility of improving people’s quality of life and providing solutions to social and environmental problems”, added Sequeira.

The executive director of the Crusa Foundation, Flora Montealegre, recognized how through Greentech they have accompanied 22 knowledge- and innovation-intensive companies in various sectors. “In this new edition we urge more companies to apply to the program and be part of the exportable supply of green technologies,” said Montealegre.