Grant agreements promoting business incubators signed between beneficiaries, Ministry of Agriculture and Food and Agriculture Organization (FAO)

Photo Credit: MAFSE

By Rubén Morales Iglesias: The Ministry of Agriculture Food Security & Enterprise (MAFSE) and the Food and Agriculture Organization (FAO) of the United Nations on Tuesday signed grant agreements with beneficiaries of the Agri Business Technical Incubator Grants Program.

According to MAFSE, the Agri Business Technical Incubator is a pilot project under the Technical Cooperation Program, referred to as TCP3801, that is being implemented by the FAO in partnership with the Ministry of Agriculture Food Security & Enterprise in the Cayo District.

Eight enterprises are being supported with funding ranging BZ$ 5,000 to BZ$ 15,000 from a total budget of $59,859.83. MAFSE said the total investment awarded to each enterprise was determined by the evaluation committee based on the proposed strategy to address their key weakness.

“The incubator provides new, micro and small Agriculture based enterprises with Qualification, Training, Advisory and Consulting services to enable them to formalize and accelerate their business development process,” said MAFSE.

“Capacity building activities have been taking place through a virtual mechanism to deliver key technical content in 5 key areas of enterprise development.

“In addition, mentorship and coaching services are available to each incubated enterprise through an assigned mentor.”

According to the Ministry of Agriculture, the incubator program also has the objective of providing investments in the form of assets to enable the enterprises to scale up and enhance their business operations.

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