The Inter-American Institute for Cooperation on Agriculture (IICA) Signs Memorandum of Understanding (MOU) with the Guyana Economic Development Trust (GEDT) to Support Innovative and Dynamic Agripreneurs in Guyana

IICA is a specialised agency for agriculture in the Inter-American system, with the mission to encourage, promote and support the efforts of the Member States to achieve their agricultural development and rural welfare goals by means of international technical cooperation, while the Guyana Economic Development Trust (GEDT) is an independent, U.S. and Guyana-based initiative that accelerates standout scientific, technological, and generally innovative ideas from the people of Guyana.  Through this collaboration, GEDT will provide access to resources, including grant capital for breakthrough startups and growing businesses with unique products, while the IICA, through its Agribusiness Incubator Programme (ABI), will provide a set of non-financial services to these high-potential entrepreneurs. The aim of the collaboration is to accelerate the growth of these startups and growing businesses, built on product, process, and business model innovations in the farming and agro-processing sectors.

The IICA ABI Programme compliments existing efforts of national stakeholders focused on farm-level, to agro-industry improvements for an enabling foreign investment climate. The collaboration between the ABI Programme and GEDT is designed to help young and growing companies to better navigate the hurdles of running businesses by providing access to an array of services, including experts and specialist advisors, on-going mentors, and investors. IICA, through its various regional programmes, will support the GEDT in their efforts to:

1.      facilitate linkages with local and international partners that will support the commercialization of agriculturally-based research and ideas;

2.      assist in the formulation of data-driven business plans

3.      provide training in financial literacy and prudent financial planning/practices

4.      develop efficient production processes

5.      facilitate the research on and development of potential markets 

6.      provide guidance on market standards, such as quality assurance, packaging, and environmental requirements

The collaboration with GEDT is an economic and social development initiative designed to help guide the launch and acceleration of start-up and growing companies, respectively, in the agribusiness sector through a comprehensive and combined business assistance program that is expected to play an important role in job creation, revitalization of communities, commercialization of new technologies and, ultimately, the creation of wealth.

For more information, please email Ms. Johan David, Agri-Business and Value Chain Specialist at johan.david@iica.int