Banking
Posted: 2 months ago

Social Impact Award 2021 Underway

TBC Bank and UNDP Georgia have signed a memorandum for promoting domestic startups, medium and small enterprises, strengthening young people, improving access to finances in regions, and empowering women in the business sector.

As part of the first cooperation, IMPACT Hub Tbilisi has launched an international students program Social Impact Award with the support of TBC Bank and UNDP Georgia.

The biggest social entrepreneurship program for students is being implemented in 15 countries simultaneously. The program is oriented toward educating students in social entrepreneurship. The program provides a 10-month educational course for young people.

During the program implementation, the students pass the whole process from the generation of ideas to preparing a business plan. This process enables them to undertake real social business. Social Impact Award 2021 consists of several stages and includes a series of workshops for young people in Tbilisi, Kvemo Kartli, Racha-Lechkhumi-Kvemo Svaneti, Samegrelo-Zemo Svaneti, Guria, Kakheti, and Imereti. At the second stage, an independent jury will select finalist teams for two-month incubation, where they will hold a business model with the assistance of individual mentors. At the final stage of the project, winner teams will be named for implementing business ideas and will receive financial aid at the international summit of the Social Impact Award.

TBC has been participating in the project since 2015 as part of the Startuper program that fosters developing and implementing new and diverse business ideas in Georgia. Impact Hub Tbilisi obtained the Social Impact Award program license in 2017 and for the fifth year, it provides the opportunity for young people to undertake social business.

During this period, over 1,000 students have engaged in the program from various regions of Georgia. Fourteen winners were named. All projects make focus on relevant social problems and offer innovative ways for their solution. The program is implemented with the support of UNDP Georgia, the Georgian Ministry of Regional Development and Infrastructure, the Swiss Agency for Development and Cooperation (SDC), and the Austrian Development Cooperation (ADC).