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Authors:
Juan Carlos Barahona (INCAE Business School); Andrey Elizondo Solano (INCAE Business School)
Published in:
2011
Length:
15 pages
Data source:
Field research

Abstract

Veragua Rainforest & Adventure Park was the first project, in Costa Rica, developed by Costa Ricans that combined eco-tourism, adventure and scientific research. The concept comes from the idea to use 1300 hectares of tropical rainforest that had been used for logging and converting them into an eco-tourism project targeting tourists from cruise ships. The son of one of the owners of the logging company, had the vision to transform the company’s business from natural resource extraction to conservation. He, together with two childhood friends, began to build a business plan that goes from an initial estimate of US$250 thousand dollars, to a final investment of US $5.75 million dollars. At that time, all three partners were under the age of 35. The project’s complexity made the partners create a network of strategic allies, both at the national and international levels. These alliances helped them professionalize their relationships with investors and venture capitalists, as well as incorporate biodiversity research as their differentiating characteristic with INBio as a scientific partner.

Topics

Ethics; Costa Rica; Innovation; Sustainable development; Responsible leadership; Tropical forest; Entrepreneurship; Strategic alliances; Networking; Social capital; Corporate social responsibility (CSR); Tourism; Logging industry; Caribbean; Biodiversity
Industry:
Size:
More than USD5 million dollars of initial investment
Other setting(s):
Early 2004 to December 2006

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Awards, prizes & competitions

2010 - EFMD Case Writing Competition - category winner