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Investment Innovation Fund

The HortInvest project set up an investment and innovation fund (IIF) with five million Euros to mobilize private sector investment; and, promote innovations in production and marketing of horticultural produce through a result-based financing model.

The IIF targets both start-up and non-start-up companies and/or cooperatives for business cases and innovation projects. Business cases are business ideas that are tested, implemented and mature to be scaled up to another level; and innovation projects are new ideas that are tested and proven viable but at a design level.

Business cases and innovation projects are funded to a maximum of three hundred and fifty thousand euro respectively including 50% of the funded company’s own contribution. The company’s contribution increases ownership.

The IIF seeks to increase farmers’ income by addressing two challenges of post-harvest losses and market. Funded companies and/or cooperatives are involved in the whole horticulture value chain including production, processing, and logistics. They capacitate farmers in their respective area of operations which results in a horticulture produce increase. This increase is subsequently channelled to market leading to less post-harvest and high income. With a 5 million euros co-fund, the HortInvest project expects that it will have raised the horticulture sector to 15.5 million euro at the end of the project. The project funded 11 and 9 companies and / or cooperatives in 2019 and 2020 respectively.

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The Investment and Innovation Fund (IIF) is an important instrument of HortInvest to attract private sector investment and promote innovations in the production and marketing. HortInvest works with private companies, to develop business cases that support farmers to overcome the challenges they face to access markets, increase production, improve food safety, and reduce post-harvest losses. HortInvest leverages private sector investments, co-investing up to 50% of the necessary costs in those business cases. It also supports innovation projects that in time could result in new business cases that support inclusive horticulture sector development in Rwanda. HortInvest Project has so far supported 19 agribusiness companies.