Read the Conversation
Meeting highlights:
- Company Origins and Mission: Nutrivida was founded 14 years ago as a social business in partnership with FIFCO and inspired by Muhammad Yunus, aiming to combat undernutrition through fortified foods.
- Launch Milestones & Impact: Human Nutrition Labs is approaching its one-year anniversary with strong market acceptance and a lean, high-performing team despite competing against major players.
- Quality Standards & Product Pipeline: The company is preparing to receive its first international quality certification and is expanding its portfolio with two new products in the pipeline.
- Founders’ Complementary Expertise: Federico’s background in medical devices and Gisela’s experience in finance and marketing have created a powerful synergy, enabling efficient growth and operations.
EF: Federico, you were a driving force behind Costa Rica’s medical cluster. What inspired its creation, and what are you focused on today?
FR: We started the cluster in 2019, driven by the need for a more unified approach as more companies set up operations in Costa Rica. While many began with pilot facilities, they often faced challenges alone, regulatory hurdles, infrastructure gaps, and uncertainty. We realized that collective effort would accelerate solutions.
Traditionally, clusters include private companies, government, and academia. We chose to expand this model by also involving entrepreneurs and financial institutions, aiming to create a comprehensive ecosystem that would drive growth and innovation in Costa Rica’s medical device sector.
Today, my wife and I are leading a social enterprise focused on nutrition. After acquiring a nonprofit, we originally founded, we launched a new supplement product last year. It’s a purpose-driven project that reflects our desire to give back. At the same time, I’m consulting in areas I know well—startups, operations, and growth. After years of building for others, I’m now building something with deep personal meaning.
EF: Gisela, could you elaborate on the history of Nutrivida and how it has evolved in the past years?
GS: Fourteen years ago, while participating in a leadership program at FIFCO, I encountered an article by Professor Muhammad Yunus on social business. Inspired by his ideas, I proposed launching a social business in our region, which led to a strategic alliance between FIFCO and Professor Yunus. This collaboration resulted in the creation of Nutrivida, with a mission to produce highly nutritious, fortified foods to address undernutrition.
Undernutrition, especially the lack of key micronutrients, is a widespread issue affecting people from all backgrounds, particularly in Latin America. To address this, we began producing affordable, fortified products such as soups, beverages, infant cereals, and spice mixes, ensuring accessibility for those most in need. All of this was made possible through the FIFCO–Yunus partnership. In 2022, my family acquired Nutrivida from FIFCO, transforming it into a family-run social business. We have remained committed to our original mission and have reached over three million people across Central America, Venezuela, Haiti, and Colombia.
Nutrivida operates as a non-profit organization, offering a comprehensive portfolio of fortified foods, including soups, infant cereals, and spice mixes. Our partnership with Professor Yunus helped us focus on providing nutritional products to those who need them most. Our range includes fortified infant cereals and soups, complemented by spice mixes that deliver essential vitamins and minerals through everyday meals. We also produce fortified powdered drinks with minimal sugar content. The Nutrivida brand is dedicated to serving vulnerable populations, prioritizing impact over profit, and has operated with this mission for fourteen years.
In recent years, we have observed a growing interest in health and wellness, not only for medical reasons but also for improved well-being and appearance. This led us to explore the concept of "beauty from within," emphasizing the importance of nutrition in supporting both health and outward appearance.
Additionally, demographic trends such as aging populations have presented new opportunities. For example, in Costa Rica, the birth rate has declined significantly, and the population is aging rapidly. Projections indicate that by 2050, nearly 60% of the population will be over 40 years old. Recognizing this shift, we identified the need to develop products that support healthy aging and enhance quality of life. There is substantial potential for growth in Latin America by offering innovative nutrition solutions tailored to an aging population focused on wellness and longevity.
I'm fully dedicated to my role at CABEI, which is my main responsibility and a full-time position. However, I'm particularly proud that Federico chose to take on the role of general manager at Nutrivida and also lead Human Nutrition Labs.
EF: Gisela, as the CEO of the Central American Bank for Economic Integration, could you share your priorities and how the Bank’s investment approach aims to improve the quality of life?
GS: At CABEI, we represent about 50% of the development funding that comes into Central America, including Costa Rica. Under our new five-year strategy, we see nutrition and health as critical priorities. Historically, CABEI has led infrastructure development, and we expect to continue playing that role. Today, we're a bank managing assets of over $20 billion, so we have a significant portfolio and real opportunities to add value.
Our new strategy outlines seven key objectives. Three of them focus on improving the quality of life across Central America, as well as in member countries such as the Dominican Republic, Panama, Colombia, Mexico, Argentina, Belize, and Cuba. Another core goal is promoting gender equality, inclusion, and diversity, as we recognize that creating better opportunities at home can help reduce migration by providing people with reasons to stay and build their lives here.
Our commitment is strong. We aim to invest between $2 billion and $ 3 billion annually. In 2024 alone, we invested $2 billion, and for this year, the plan is around $2.5 billion. That funding supports public projects, such as hospitals and other infrastructure, but it also backs the private sector and entrepreneurs. Supporting innovation and entrepreneurship is central to our mission of improving lives across the region, and that's what the bank is here to do.
EF: Federico, you are CEO of Human Nutrition Labs. Could you elaborate on how you are leveraging a robust existing infrastructure to create a new brand to address this gap?
FR: Our approach began with a thorough analysis of product distribution channels and the existing market landscape. We observed that most nutritional products resembled medicinal supplements rather than enjoyable, everyday consumables. This insight inspired us to redefine the experience of nutritional supplementation.
Leveraging Nutrivida’s decade-long expertise in developing nutritious, great-tasting products made predominantly from natural ingredients, we set out to create something distinct. Rather than offering the typical vanilla, strawberry, or chocolate flavors, we introduced three innovative options in our first adult product line: Cookies and Cream, Strawberry with Condensed Milk, and Brownie. Each serving delivers a comprehensive nutritional profile, including 11 grams of protein from three sources, 28 vitamins and minerals, prebiotic fiber, and hydrolyzed collagen peptides. These ingredients collectively support metabolism, muscle and gut health, as well as the health of skin, hair, nails, teeth, joints, and connective tissues.
At Human Nutrition Labs, our mission centers on expanding not only lifespan but also health span, ensuring individuals enjoy optimal well-being at every age. We believe that true vitality begins with nutrition.
We launched Human in June last year, so we’re just hitting our first year on the market in Costa Rica, and it’s doing well. We already have plans to expand into the rest of Central America, taking advantage of regional regulatory homologation, and we’re also exploring markets like the U.S., thanks to some special certifications we’ve secured.
What excites us most about this growth is that Human exists because of Nutrivida, and Nutrivida will continue to thrive because of Human. That connection is really meaningful to us. Gisela and I have had great careers professionally, but keeping Nutrivida alive is how we give back. It’s a tangible way to create impact and stay connected to purpose.
EF: Could you elaborate on your product portfolio?
FR: We have a diversified portfolio that addresses specific gaps. Our adult line, Human for Adults, is available alongside an advanced version, Platinum, which is sugar-free, lactose-free, and enriched with omega-3 and omega-6 for heart health. While Platinum is particularly suited for older adults, it is beneficial for anyone seeking enhanced nutrition. We are also preparing to launch Human Grow, a formula tailored specifically for children.
Our flagship innovation, Blue Human, represents a significant breakthrough. Developed in collaboration with leading experts in Costa Rica and laboratories in the United States and Latin America, Blue Human is grounded in the latest anti-aging research. It is available in two targeted formulas: Blue Human Optimus Male and Blue Human Goddess Elixir, each addressing unique health needs by gender.
Additionally, we have created All Sports Human, a line designed for those with active lifestyles or high-intensity workout routines. As more individuals embrace regular physical activity, our products are crafted to support and enhance this commitment to health.
Our vision is to build a portfolio of products that truly align with each person's unique biology, including how they metabolize food, absorb micronutrients, and address their specific needs. I'm eager to reach that point. For now, we're launching three products with a flavor recipe that's already getting great feedback. But we are moving in the direction of personalization.
EF: What do you need to achieve your next steps with Human?
FR: We strategically leveraged Nutrivida’s existing infrastructure, which allowed us to avoid significant capital investment since the factory was already established. While we did implement new processes to complement our operations, the primary investment from our side was directed toward product development for Human, funded mainly through our family resources over the course of a year and a half.
Currently, our funding focus is on securing short-term capital to efficiently manage working capital. This approach is centered on optimizing cash flow rather than seeking long-term financing. Nevertheless, we remain open to equity investment and are actively pursuing it as our main funding strategy. We are also participating in the selection process for non-refundable funding through BID Lab. While this is a valuable opportunity, our primary objective is to advance equity investment.
Last year, we obtained and fully repaid debt funding, which has placed us in a strong financial position. We are now preparing to launch an ABC round for equity, targeting a relatively modest amount of approximately $500,000. This is possible due to the leverage provided by our existing assets and our solid financial projections. Our forecasts extend up to ten years, but we place particular confidence in the next three to five years, using conservative estimates to guide our planning. The outlook for the company is promising, and we intend to raise the majority of this funding from family and local investors in Costa Rica, while also engaging with select international funding organizations.
EF: In today’s fast-changing world, where technology and artificial intelligence play an increasingly important role, how is Costa Rica integrating these advancements into its everyday operations and systems?
FR: Artificial intelligence has become an essential tool across many areas. It is truly transformative, especially on the technical side. In the past, engineers needed significant time to analyze data and find ways to improve efficiency. Today, AI-based tools simplify those tasks and deliver solutions much faster. So, as a tool, it is absolutely necessary. However, in terms of actual manufacturing, there are still many processes that are difficult to automate or even partially automate, and those remain manual. Where AI has added value in this space is in training and upskilling employees, helping them become more efficient in performing specific operations.
So, once again, AI is a tool. It is not yet seen as a replacement for the work done in most production lines, at least not in the typical setups we have in Costa Rica. In other areas, such as back-office functions or financial analysis, there may be more trade-offs between what AI can do and what people used to do. What I have seen so far is that AI helps get work done faster and with more precision, which means teams can move on to the next project more efficiently. It is definitely counted on as part of the modern toolbox and will only continue to grow in relevance.
EF: As you celebrate your one-year product launch soon, what would you like to celebrate?
FR: We are proud to celebrate a successful launch, having entered our first market with strong acceptance despite limited resources. Competing against major pharmaceutical companies and multi-million-dollar enterprises, our small team has operated with remarkable efficiency and focus.
Drawing on extensive experience in the medical device sector, we have made significant strides in quality, regulatory compliance, and warehousing. We are on track to achieve our first quality certification in June, a major milestone for a company of our size. Meeting rigorous international standards for food manufacturing is a considerable achievement, and I am confident we are well prepared.
This first year has set a promising foundation for our future. Our product portfolio is advancing as planned: our second and third products are nearing registration. We are pleased to be marking our anniversary with such momentum.
I would also like to highlight the value that Gisela brings to our team. Her background has been instrumental, allowing us to cover critical areas without the need for external consultants or additional hires. While we recognize that team expansion will be necessary as we grow, our current combination of skills and experience has proven to be highly effective.
