Description and Goal
Do you have a startup that is bringing innovative solutions to Armenia’s sustainability challenges? This opportunity is for you!
The Circular Startup Grants is a competition, as part of the CirculUP! project, designed to empower innovative startups like yours that embrace the Circular Economy.
The project is led by the Impact Hub Network, Impact Hub Yerevan, and the Environment and Health NGO – funded by the European Union in Armenia.
The goal of the grant is to help transform Armenia’s economy toward a circular future!
Benefits
- Grant Funding: Level up your circular business idea with a financial support of up to €10,000! (10 startups in total will receive funding)
- Expert Mentorship: Gain valuable guidance from industry leaders and circular economy experts.
- Network and Visibility: Connect with a vibrant community of changemakers and raise your startup’s profile.
- Become a Circular Champion: Be on the front lines of building a more sustainable future in Armenia!
Timeline
- Application deadline: August 31st, 2024, 11:59 PM (Armenian local time).
- Results will be announced in early September 2024.
- Grant implementations need to fit in 6 months, beginning in October 2024 and be finalized by March 2025.
Target Group
If you are an Armenian startup, passionate about sustainability, and you have innovative solutions to some of our environment’s most pressing challenges using the R-ladder strategies for circular economy, then this opportunity is for you!
We are looking for startups that incorporate one or more of the R-ladder strategies of the Circular Economy. These strategies can be explored in this blog post. Applicants must ensure that they have thoroughly read the blog post prior to applying.
Special priority will be given to those creating business solutions that address problems in the food and agriculture, tourism, and textile sectors, but startups from other sectors are also encouraged to apply!
Eligibility and Selection Criteria
Startups must meet the following criteria:
- Active for at least 6 months but no longer than 3 years before the application date
- Legally registered (LLC or Sole Proprietor). Startups that do not have legal registration must register before receiving the grant.
The jury, composed of 5 experts, will evaluate applications based on the following criteria:
Business components
- Business model and financial rationale, including profitability, sustainability and scalability potential. Applications must be business-oriented and not project-oriented. Those business initiatives will be selected who want to set up a business and not those who want to set up temporary projects.
- The team, its execution capacity in business and circular economy, and motivation.
- Overall quality of the application
- Degree of innovation
Circularity components
- Expected environmental impact of the proposed circular solution, contribution to the Green Deal & greening Armenia
- Feasibility of the solution
- Reduction of raw material and resource consumption, the utilization of the R-ladder strategies of Circular Economy
In the case of equal scoring, priority will be given to applications focusing on inclusion and other social components.
How to Apply
Eligible startups can apply by downloading, filling in, and submitting the following documents by August 31st, 2024 at 11:59 PM (Armenian local time), in English or Armenian to shoushan.keshishian@impacthub.net.
- Application Form
- Annex 1: Business Model
- Annex 2: Budget
- CV of applicant and team members (optional but encouraged)
These documents should detail your circular business idea and how it aligns with the principles of the circular economy.
To help you prepare your application, we have also prepared the following two documents:
- Guideline: How to Create a Detailed Budget for Using the Grant: This guideline will help you prepare the budget (Annex 2) that you will submit along with your application.
- From “Take-Make-Waste” to Circular Economy: Paving the Path to a Sustainable Future: This is a guideline that will help you understand, assess, and implement strategies towards a circular economy in your startup.
Please read both guidelines carefully before preparing your application and submitting your proposal.
Each applicant can submit only one proposal. Failure to submit an application package containing all the required information and documentation may lead to the rejection of the proposal. Failure to submit an application within the specified deadline may lead to the rejection of the proposal.
Have questions? Email shoushan.keshishian@impacthub.net by August 15, 2024.
We will also be hosting an Online Info Session on July 25th (12:00-14:00 Armenia Time), so please feel free to prepare your questions and join us. Click here to register!
Don’t miss this opportunity to be a part of Armenia’s circular economy revolution. Apply now and help us build a sustainable future!
Brought to you by the Impact Hub Network, Impact Hub Yerevan, and the Environment and Health NGO – funded by the European Union in Armenia.
Attachments:
- Application Form
- Annex 1: Business Model
- Annex 2: Budget
- Guideline: How to Create a Detailed Budget for Using the Grant: This guideline will help you prepare the budget (Annex 2) that you will submit along with your application.
- From “Take-Make-Waste” to Circular Economy: Paving the Path to a Sustainable Future: This is a guideline that will help you understand, assess, and implement strategies towards a circular economy in your startup.