The first edition of Inverscreaa included the participation of 12 Andalusian companies representing a wide range of activities, from olive oil and wine producers to canned food manufacturers or suppliers of auxiliary livestock and farming services. These companies underwent a practical training process during which, amongst other things, an assessment of their business plan, a SWOT-based analysis of their investable business model for international markets, and an evaluation of various options for international funding (investment models) were carried out, all with the aim of preparing them to meet foreign investors.
Aware of the difficulties, complexity and limitations of accessing funds to support international growth, Extenda commissioned Inverscreaa, a pilot program intended to train Andalusian companies in the agricultural and agrotechnological industry to attract international investment through business partners or investment funds, as well as to favor an influx of foreign capital in the industry, generating alliances, increasing in size and exploiting synergies.
To organize this event, Extenda received the technical advice and support of The Food Intelligence Company, a Malaga-based consultancy firm specializing in both business acceleration for technological and agrofood companies, as well as in the consultancy and preparation of companies to establish successful contacts with private investors.
Extenda’s Inverscreaa program was developed over two months and comprised two phases of close, intensive work. The first phase, including the participation of 12 companies, focused on consultancy and advisory service, including training workshops and customized mentoring to enhance project appeals to investors. The second phase, available to a group of selected companies, was structured as a business meeting with potential international investors interested in new projects, with the aim to launch a due diligence process. The five companies selected for this second phase were those with a more investment-favorable profile.
This pilot project aims to strengthen the investment appeal of Andalusia’s agrofood industry and its auxiliary sector, as well as of the ICT industry linked to agrofood industry processes. The selection of business projects focused on companies operating in strategic areas, such as specialized food, use blockchain technology, have experience in digital sales channels and work in sustainable products or processes.
The Inverscreaa pilot project is part of Extenda’s support program for Andalusia companies in the face of the Covid-19 crisis, enhanced by the International Activa Program, through the search for business opportunities in recovering markets, customized support and liquidity-boosting measures. Within this strategy, internationalization programs were digitalized and new initiatives were launched, adapting their development to digital platforms with the aim to further internationalize Andalusian companies.
Aware of the economic difficulties for some business activities, and the desire for companies to continue carrying out promotion and positioning actions, Extenda has eased its membership program and has approved a super-reduced flat rate for event participation until June 2021: €1,000 for international trade fairs and €100 for the remaining actions, including Inverscreaa.