Called Colombia + Competitive, the latest round of investment will help projects for natural cosmetics, as well as high-end chocolates and sustainable tourism.
The program was first set up two years ago, to incentivize development in sectors that have shown financial potential but have traditionally lacked funds and resources.
Three cosmetics programs
In all there are seven specific initiatives and three of them are tailored towards the natural cosmetics category utilizing trees and plants that are native to Colombia.
The first is an initiative to enhance the production and wild harvesting of achiote trees, which hare prized for their bright red seeds and used as a dye and body-painting pigment by indigenous communities in South America for centuries.
The dye could make an interesting dye for a range of natural cosmetic and personal care products, but is likely to be a particularly interesting ingredient for color cosmetic formulations.
Depilatory and skin care applications
The second project is to cultivate and commercially produce the sacha inchi, a tree that produces nuts containing an extract that can be used in skin care.
Sacha inchi oil has a very high omega-3 content, making it comparable in composition to flaxseed oil, giving it strong moisturization and anti-aging properties.
The third project will see further investment in the cultivation and production of lecythis minor trees, which also produces nuts, having an extract that is known for its depilatory properties.