This group has emerged as an early stage angel investment network focused on identifying and supporting some of Armenia's most promising, high impact early stage ventures.
The current development paradigm in the country (consisting of flows of capital from aid agencies, lending institutions, philanthropic organizations and individuals) is largely outdated and the Armenian Diaspora’s appetite for charity is waning. Moreover, the new development paradigm is framed by an updated set of Sustainable Development Goals (SDGs) that should also be realizable in a specifically Armenian context.
We believe in the potential of the 3 million people inside the country, supported by the millions more around the world. Let’s shift away from checkbook philanthropy, figure out how to spur and catalyze innovation from the public sector, and begin thinking about high engagement. The newly launched Impact Hub Yerevan and its already vibrant community of changemakers is the beginning of a movement around social entrepreneurship that will propel sustainable enterprises capable of generating revenues — and bringing prosperity to a population that has been waiting long enough.
Now, 24 years after independence, a new generation who never knew the Soviet Union, is dusting off the cobwebs of their parents’ generation and taking responsibility for their own fate. Let’s empower them.