Collaborate for Impact: EU to support social businesses

On 11 September, the EU-funded project ‘Collaborate for Impact’, implemented by the European Venture Philanthropy Association (EVPA) and Impact Hub Yerevan, was launched in Yerevan.

The aim of the project is to promote social entrepreneurship and the ecosystem for further expansion.

“Impact-driven businesses have great potential and role to play in building back better the economy and for creating opportunities for growth and jobs in Armenia. We expect that this project will give a big boost to the social entrepreneurship sector,” Head of the European Union Delegation to Armenia, Ambassador Andrea Wiktorin, said.

According to the Ambassador, on the launch of the project the EU “awarded 35 social businesses with more than €300,000 support for tackling the impact of the COVID-19 pandemic”.

The Collaborate for Impact project aims to contribute to the development of a more favourable social entrepreneurship ecosystem in the Eastern Partnership region and Russia. Alongside providing financial support to establish venture philanthropy funds in the region, the project action includes specific components for Armenia, including an Emergency COVID-19 Relief Fund for social enterprises, and incubation and acceleration programmes.

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Press release