IDBank and Impact Hub Yerevan are happy to announce the launch of the Social Impact Award Armenia 2024 Incubation Program.

Ten innovative teams were selected to participate in this intensive boot camp, aimed at developing solutions to pressing social challenges. The program is funded by the "The Power of One Dram" initiative by Idram and IDBank – AMD 4.165.643 was transferred to the program in the frames of the companies’ initiative.

The incubation program will equip these aspiring social entrepreneurs with the tools, mentorship, and resources needed to refine their business ideas and make a significant impact.

"We are thrilled to support the Social Impact Award Armenia Incubation Program. This initiative aligns perfectly with our commitment to fostering innovation and sustainable development. By empowering young social entrepreneurs, we believe we can contribute to creating lasting positive change in our communities," said Tatevik Vardevanyan, Head of Communications at IDBank.

This year, out of nearly 30 applicants, the following ten exceptional ideas were selected for the Incubation Program: ElectRoads, Physmath Academy, Organic, Green Cloud, Cafe-Flower Shop, ReTyre Design, Axunik, Aquaponic Greenhouses for Community Development, BrainBox Residence, and Astronomy for All.

“Social entrepreneurship is a stable mechanism for solving social problems, and the involvement of young people in social entrepreneurship is the guarantee of ensuring innovation in the field. We are happy to see that Armenian organizations are taking the field of social entrepreneurship into the framework of their corporate social responsibility," said Impact Hub Yerevan CEO, Gevorg Poghosyan.

You too can become a goodwill ambassador of Idram and IDBank by just making all your payments via Idram&IDBank application, IDBanking.am and banking.idram.am online platforms and the terminals of the companies.

Companies are regualted by the CBA.