DEVELOPMENT OF SOCIAL ENTREPRENEURSHIP
AND SOCIAL INVESTMENTS TOWARDS ECONOMIC AND SOCIAL COHESION IN THE EASTERN PARTNERSHIP AND RUSSIA
What is the “Collaborate For Impact” Project?
The “Collaborate For Impact” project is a new EU-funded social entrepreneurship project led by the European Venture Philanthropy Association (EVPA), the leading organisation in the field of venture philanthropy and social investment in Europe. The project has a regional component covering the Eastern Partnership region and a specific component for Armenia. Activities in Armenia will be implemented by Impact Hub Yerevan.
The aim of the “Collaborate For Impact” project is to promote social entrepreneurship and the ecosystem for further expansion.
The specific objectives are:
- Ensuring that new social enterprises are building on stronger technical/professional skills and business competences;
- Attracting more social investors
- Increase regional and national collaboration in the field of social entrepreneurship
- Stimulate collaboration between public sector, social entrepreneurs and investors on promoting the social entrepreneurship ecosystem
- Promoting social innovation and new business models for financing CSOs and purpose-driven businesses
EU-Supported COVID-19 Relief Fund
Within the scope of the project, Impact Hub Yerevan is announcing a call for applications for the EU-Supported COVID-19 Relief Fund, which aims to support social enterprises in Armenia to overcome the negative impact of the pandemic and make them more resilient to similar crises in the future.
Social enterprises are invited to apply for projects with a budget between 3.5 million and 9 million AMD [approximately 5,640-14,510 EUR]. The average grant size for the EU-Supported COVID-19 Relief Fund is expected to be around 6.2 million AMD [10,000 EUR] but larger budgets could be considered based on the needs of the applicant as well as the social impact and profitability of the particular social enterprise. All activities funded have to take place/be implemented within the borders of the Republic of Armenia.
As outlined in the application form, participants are asked to provide a budget where at least 20% will be directed to medium-to-long-term activities (resilience building), e.g. developing e-commerce, additional sales channels, new products/services.