EIF Reopens Impact Acceleration Program
for a Second Round of Applications
in Partnership with C-Quadrat Ampega Social Fund and RECONOMY
Applications are open again. Early-stage startups solving social, environmental, and economic challenges in Armenia are invited to apply for an acceleration program with hands-on mentorship, access to global networks, and follow-on equity investment of up to USD 100,000.
Enterprise Incubator Foundation (EIF) announces a second round of applications to its Impact Acceleration Program, designed to identify, accelerate, and invest in early-stage tech startups creating measurable social and environmental impact. The program is implemented in partnership with C-Quadrat Ampega Asset Management Armenia (CQAA) Social Fund, with the support of the RECONOMY program funded by the Swedish International Development Cooperation Agency (Sida) and implemented by Helvetas Swiss Intercooperation.
The first round drew strong interest from across the country and confirmed the depth of impact-driven talent in Armenia’s tech ecosystem. This second call is open to teams that were still building their prototype, completing their registration, or simply not ready in the spring, as well as to new applicants. All program terms, including the investment range and eligibility criteria, remain unchanged.
The program addresses a critical gap in Armenia’s startup ecosystem: while there is growing interest in impact investing internationally, local entrepreneurs often lack awareness of that asset and the support needed to become investment ready. The Impact Acceleration Program is designed to bridge this gap by combining acceleration support with a clear investment pathway.
The Impact Acceleration Program is a comprehensive, multi-phase initiative that takes selected startups from concept refinement through to investment readiness and capital deployment. Over the course of the program, participating teams will benefit from:
- Intensive Co-Creation and mentorship: Hands-on program to refine the technical solution, business model, and impact thesis and access to global network of researchers, mentors and industry experts
- Lab & Facility Access: Use the Engineering City labs, and regional hubs in Gyumri, Vanadzor, Agarak, and Sisian for product development and testing
- Investment Opportunity: Selected startups will receive equity investments of $30,000–$100,000 from the C-Quadrat Ampega Social Fund
- Fundraising Support: Connections with local and international VCs, angel investors, and impact funds for follow-on investment
The program targets early-stage technology startups operating in Armenia or pursuing economic interest in Armenia that have a working MVP or prototype and demonstrate measurable social impact aligned with the UN Sustainable Development Goals.
Priority focus areas include:
- Health & Wellbeing (AI-assisted diagnostics, telemedicine & remote monitoring, medical devices & wearables, mental health tech)
- Climate & Environment (air/water/soil quality monitoring, environmental impact tracking, circular economy platforms, carbon analytics & reporting)
- Water & Agriculture (precision agriculture, satellite/drone-based crop monitoring, smart irrigation & water efficiency, post-harvest & cold chain tech)
- Energy & Built Environment (grid optimization & energy storage, IoT sensors & smart buildings, micro-grids & off-grid renewables, climate-risk analytics)
- Education & Workforce (adaptive learning platforms, STEM tools for underserved regions, VET & reskilling technology, assistive & accessibility tech)
- Financial Inclusion & Economic Access (alternative credit scoring, AgriFinTech & micro-lending, InsurTech for climate risks, digital payments for underserved areas)
- Governance & Civic Technology (digital public services, open data & transparency tools, citizen engagement platforms, legal tech & access to justice)
- Regional Development & Logistics (last-mile delivery optimization, supply chain intelligence, tourism tech & cultural heritage, rural connectivity solutions)
- Safety & Security (earthquake early warning systems, structural health monitoring, cybersecurity for SMEs & infrastructure, emergency response & rescue tech)
- Manufacturing & Deep Tech (robotics & automation, advanced sensors & materials, additive manufacturing / 3D printing, biotech & space/satellite applications)
Applications are strongly encouraged from startups led by women, youth, and individuals from disadvantaged or underrepresented communities. The program is committed to promoting inclusive and equitable economic outcomes.
Eligibility Criteria
- Registered legal entity in Armenia (or in process of registration)
- Working MVP or prototype stage (not idea-stage)
- Clear social, environmental, or economic impact aligned with UN SDGs
- Technology-driven solution with innovation potential
- Willingness to accept equity investment (this is not a grant program)
How to Apply
Interested startups should complete the online application form available here. The application includes information about your company, product, market, team, impact thesis, and financial overview. Startups that applied in the first round and were not selected are welcome to apply again with an updated submission.
Application Deadline: October 5, 2026
Selected applicants will be notified within 2 weeks of the deadline. An information session on impact investing will be held prior to the deadline to support applicants in strengthening their proposals.
For inquiries։
E-mail: [email protected]
Tel.: +374 11 219797
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