For the first time in Asia, Bangladesh is set to benefit from Innovatech 2.0, a global program that selects and supports startups offering digital solutions for small-scale farmers.
The program implemented by the International Fund for Agricultural Development (IFAD) and the German Sparkassenstiftung for International Cooperation (DSIK), has already reached thousands of rural households in Bolivia, El Salvador, Guatemala, Honduras, and Peru.
Sixteen startups have been selected under Innovatech 2.0 to address the needs of 17,000 small-scale farming households across these countries — and now Bangladesh. The startups will provide technology-driven solutions to boost agricultural productivity, improve resilience against extreme weather events such as floods and droughts, and facilitate digitalization in rural areas.
Selected startups will receive technical support, mentorship, and an equity-free grant of US$90,000 to refine their business models and expand their impact in rural communities.
Rocío Medina Bolívar, IFAD’s Regional Director for Latin America and the Caribbean, said, “Innovatech 2.0 brings technology to bridge the digital divide in rural areas while enhancing the competitiveness of small-scale farmers. The program positions the rural sector as a space for innovation and business growth, attracting investment and interest from emerging tech companies.”
Christina Olsen, Director of Innovatech, added, “With its expansion to Bangladesh, Innovatech confirms that our methodology works globally, fostering shared learning among startups. The challenge is now to create sustainable business models for rural areas. Innovatech opens doors and builds bridges across sectors to facilitate cooperation among multiple actors.”
Innovatech: Technology, Agroecology, and Inclusion
Thanks to Innovatech 2.0, 340 rural organizations will gain access to a wide range of solutions:
- Agtech: Technology applied to agriculture to promote data use, traceability, and digital optimisation of crops, logistics, and decision-making. Startups include SIUCOM (Guatemala), Terra Kaape (Honduras–PROINORTE), MIIDO (Honduras), Agribest (Honduras), Quenco (Peru), Krishi Shwapno (Bangladesh), and Agronochain (Bangladesh).
- E-Commerce: Improving market access and sustainable value chains through circular economy models, reducing food losses, and connecting directly with buyers. Startups: Cooltiva (Bolivia) and DLoop (El Salvador).
- Edtech: Providing accessible education and training tailored for rural contexts, increasing employability and productivity. Startups: Excuela (Honduras) and Musa (Peru).
- Fintech: Solutions for structured savings, progressive credit access, agricultural investment, and green finance for historically excluded producers. Startups: SOMMOS (Bolivia), NOS Finance (Peru), DeltaX (El Salvador), and Kazu (El Salvador).
Innovatech 2.0 also focuses on women and youth empowerment, facilitating access to digital services that accelerate the transition to agroecological practices — promoting sustainability through preservation of natural resources and reduced chemical use.
Christophe Larose, Head of Sector Sustainable Agriculture, Research and Innovation at the European Commission, emphasized, “Agroecology is a key pathway for transforming global agri-food systems sustainably and resiliently. Digitalization must align with agroecology’s principles to achieve this transformation.”
Building on the success of the first Innovatech edition (2021–2023), which reached 21,000 households across Latin America and the Caribbean — more than double the original target — the program is now attracting new governments and public actors to co-finance startups and expand its impact.
In Honduras, a partnership with the PROINORTE project of the Secretariat of Agriculture and Livestock (SAG) will fund two additional startups, strengthening public–private collaboration. In El Salvador and Peru, two innovation hubs, INNBOX-SNBX and UTEC Ventures, are being trained in the Innovatech methodology to promote technology adoption and enhance sustainability under the Hub Edition model.
