First competition for non-reimbursable funds invites companies to transform their exportable offer
In partnership with PROCOMER (the Costa Rican foreign trade promoter), the Costa Rica USA Foundation for Cooperation (CRUSA) launched the first green transformation competition in which 25 small and medium enterprises will be selected to apply for grants for certifications and process and product innovation geared to energy efficiency, renewable energy use, emissions reduction, efficient water use and integrated waste management.
The goal of the Green Growth Program is to create a productive reconversion platform for fostering the green transformation of 200 SMEs through seed capital grants, thereby promoting diversification and enhancing the value-added of Costa Rica’s exportable offer.
(VIDEO in Spanish)
Dynamics of the competition
In this first year of the program, CRUSA and PROCOMER hope to select at least 25 enterprises that meet the following criteria:
- It must be an SME (1-100 employees).
- It must have completed PROCOMER’s one-stop exporter diagnostic.
- Its project must have a positive impact on one of the following: energy efficiency, renewable energy use, emissions reduction, efficient water use and integrated waste management.
Winning enterprises will receive grants that fund up to 80% of their projects, after analysis by a PROCOMER technical committee. Project amounts vary by category, with the maximum funded amount being US $15,000.
The grants will be funded by an initial kick-off endowment from CRUSA of $1,000,000, the first part of a total of $4,000,000 to be invested in future competitions.
SMEs have until next September 28 to send in their proposals, and winners will be announced on October 12. Companies lacking PROCOMER’s one-stop exporter diagnostic have until September 14 to apply for it.