Inclusive business as a model at the base of the pyramid is a relatively recent area of study. From an institutional perspective, companies are influenced by norms, processes, and moral and ethical standards, which have not been extensively examined in the development of inclusive business models involving agricultural cooperatives. This research aims to identify institutions that can contribute to the development of inclusive agribusiness models. The study focuses on banana-producing agricultural cooperatives in Magdalena, Colombia, as the unit of analysis to identify such institutions. The methodological approach involves a multiple-case study (six banana cooperatives) with a single unit of analysis, applying a deductive approach to review institutional factors. The findings reveal that both formal institutions (such as certifications, quality standards, social responsibility policies, and incentives) and informal institutions (including cooperation, quality-of-life improvement, and social capital generation) promote the development of inclusive businesses within cooperatives at the base of the pyramid. This study serves as a foundational step for potential replication in other agricultural industries and economic sectors.