TBC and UNDP Georgia have signed a memorandum to support local startups, small and medium-sized enterprises, empower young people, improve access to finance in the regions, and support women in business development.
The first cooperation under the memorandum has already taken place and Impact Hub Tbilisi, with the support of TBC and UNDP Georgia, is launching the international student program Social Impact Award.
The largest student entrepreneurship program in the field of social entrepreneurship is implemented jointly in 15 countries and focuses on the education of students in the field of social entrepreneurship. The program offers young people a ten-month training course to implement their own business ideas. During the program, students go through the whole process from generating an idea to drawing up a business plan, which gives them the opportunity to actually start a social business.
The Social Impact Award 2021 consists of several stages and includes a series of workshops for young people living in Tbilisi, Kvemo Kartli, Racha-Lechkhumi-Kvemo Svaneti, Samegrelo-Zemo Svaneti, Guria, Kakheti and Imereti. In the second phase of the program, finalist teams selected by an independent jury will undergo a two-month growth period, where they will conduct a business model with the help of individual mentors, draw up business plans, and prepare to present to the jury. The final phase of the program will identify the winning teams that will receive financial support to implement the business ideas and participate in the International Social Impact Award Summit.
Through the Social Impact Award, TBC supports businesses in young people and helps empower them in the regions. TBC is participating in the project with a startup program, which has been supporting the establishment and development of new and diverse business ideas in Georgia since 2016.
Impact Hub Tbilisi received a license to implement the Social Impact Award program in 2017 and has been giving young people the opportunity to start a social business for the fifth year in a row. During this time, a total of 1000+ students from different regions of Georgia participated in the program; Up to 100 young people (30 teams) were trained and 14 winning teams were identified. All projects respond to current social problems and offer innovative ways to solve them.
The program is supported by TBC, the United Nations Development Program (UNDP), the Ministry of Regional Development and Infrastructure of Georgia, the Swiss Agency for Development and Cooperation (SDC) and the Austrian Development Cooperation (ADC).
