EU supported IRIS Business Incubator has been established in 2019 by “Armenian Caritas” Benevolent NGO and “SME Cooperation Association” NGO within the framework of “Increased Resilience of Syrian Armenians and Host Population” (IRIS) programme. The programme is funded by European Union through the EU Regional Trust Fund in Response to the Syrian Crisis, the EU “MADAD” Fund, Austrian Development Cooperation, and Austrian Red Cross and is being implemented by the consortium led by the Austrian Red Cross and consisting of “Armenian Caritas” Benevolent NGO, Armenian Red Cross Society, Centre for Coordination of Syrian Armenians’ Issues and “SME Cooperation Association” NGO. IRIS Business Incubator has carried out 3 Incubation Cycles since 2019. During the three Calls, the incubator received more than 1,500 applications from all regions of Armenia from Syrian-Armenian and local entrepreneurs.
More than 450 participants were invited to business canvas modelling training, of which around 270 successful initiatives became participants in the 3 main programs of the IRIS Business Incubator: SPARK, BUILD, START and were admitted to the IRIS Academy. Overcoming all the barriers and obstacles that occurred due to the Coronavirus (COVID-19) outbreak in Armenia and the world, IRIS BI developed a blended model of 2 months of online and offline training and coaching, and the selected residents started their participation at IRIS Academy covering the topics on Law, Finance, Marketing, Accounting, and Operations. At the end of each round of the Academy, the participants presented their business plans to a professional Jury team consisting of the representatives of IRIS programme partners, experts, and entrepreneurs, by participating in the business plan pitching sessions.
As a result of the implemented 3 Calls within the framework of the IRIS programme, around 150 successful residents were selected, who received funding, access to a co-working area and the opportunity to continue their incubation for another 6 months together with our coaches.
Inclusion and diversity are always in our focus:
– More than 50% of Business Incubator resident-entrepreneurs are from the regions of Armenia,
– 63% of IRIS Business Incubator residents are women,
– IRIS Business Incubator has extensive experience working with target groups in need of economic integration, including repatriates,
migrants, refugees, other displaced persons, persons with disabilities. 32% of our residents are representatives of these target groups.
We equally support different areas, including tourism and hospitality, creative industries, agriculture, food processing and production, other production and services.