Collaborate for Impact Project Celebrates Legacy in Supporting Armenia’s Social Entrepreneurship Ecosystem
On May 23, 2025, Impact Hub Yerevan hosted a landmark celebration marking the successful conclusion of the five-year Collaborate for Impact project, funded by the European Union and implemented by Impact Europe regionally and Impact Hub Yerevan locally. The event brought together beneficiaries, investors, policymakers, and ecosystem partners to reflect on Armenia’s growing social entrepreneurship movement and the enduring legacy of the Collaborate for Impact project.
Implemented from 2020 to 2025, the Collaborate for Impact project strengthened Armenia’s social innovation ecosystem through capacity-building, acceleration, and investment readiness programs, and the establishment of the VIA Fund, now a permanent impact investment vehicle under Impact Hub Yerevan.
To date, the fund has deployed €305,000 in blended financing and leveraged €80,000 from our partners at C-QUADRAT Ampega Armenia, supporting 16 social enterprises that have collectively contributed to their respective sectors and communities across Armenia. These enterprises have addressed critical social challenges ranging from inclusive employment to sustainable agriculture and community building.
The event opened with remarks from key figures, including H.E. Vassilis Maragos, Head of the EU Delegation to Armenia, who emphasized the EU’s continued commitment to Armenia’s social economy. They were joined by Deputy Ministers Lilya Sirakanyan (Economy) and Ruben Sargsyan (Labor and Social Affairs), highlighting growing government recognition of social entrepreneurship’s role in inclusive development.
“Five years ago, we set out to prove that social entrepreneurship could become a driving force for Armenia’s development. Today, with VIA Fund established as a permanent institution and dozens of social enterprises thriving across our regions, we’ve started a movement that will outlast this project and continue transforming communities for years to come,” stated Gevorg Poghosyan, the Executive Director of Impact Hub Yerevan.
Attendees viewed powerful video case studies featuring beneficiaries like Aregak Bakery, where founder Tigranuhi Hakopyan shared: “With VIA Fund’s support, we are making positive changes in Gyumri and beyond.” Similar testimonials came from HDIF’s rural revitalization work and Arvestaran’s neurodiversity employment programs.
Olga Maksimova, Impact Manager at Impact Hub Yerevan, presented the project’s comprehensive results: The initiative supported 33 social enterprises through €328,000 in pandemic relief, incubated 27 startups via the Social Impact Award, and accelerated 13 ventures through the AXEL program. Its crowning achievement, the first Impact Investment Fund for social enterprises in Armenia, VIA Fund, has become a permanent institution, already deploying over €385,000 across 16 portfolio companies.
“The social entrepreneurship ecosystem in Armenia is stronger today thanks to the establishment of VIA Fund, and Impact Europe and I are glad to have been a part of that journey with Impact Hub Yerevan,” said Martijn Blom, Impact Funds Advisor at Impact Europe.
A panel moderated by Impact Europe’s Sona Dilanyan featured entrepreneurs like CeramaZart’s Azatoohi Simonian discussing how VIA Fund’s blend of funding and mentorship enabled their growth from small initiatives to sustainable employers.
The evening concluded with a bustling networking reception where 14 social enterprises showcased products ranging from handicraft souvenirs to artisanal foods.
“This celebration isn’t an endpoint, but a launchpad, one we’ve reached despite navigating multiple crises that tested our resilience,” said Impact Hub Yerevan CEO Gevorg Poghosyan. “Through pandemics and regional challenges, we remained committed to our mission. Now, we’re nurturing partnerships with investors and ecosystem players to scale this impact further.”