IDEA APP Armenia closing ceremony

The IDEA App is a technical solution developed by Bridge for Billions in collaboration with and specifically customized to the needs of UNIDO. It deploys a unique technology to incubate and accelerate business opportunities for early-stage entrepreneurs and small and medium-sized enterprises (SMEs) and addresses the need to streamline online incubation services throughout all projects applying the IDEA approach.

In the framework of “Accelerating women’s empowerment for economic resilience and renewal: Post COVID-19 reboot in Armenia” UN joint project funded by Multi-Partner Trust Fund, UNIDO launched a four-month online program aimed to build the entrepreneurial capacity for startup women. Women entrepreneurs, with the support of mentors from different corners of the world, were able to materialize their business ideas by developing business plans to start a new business or to expand the existing one, thus ensuring self-employment and increasing their income opportunities.

In her welcoming remarks, Anahit Simonyan, UNIDO Country Representative, said, “We are very proud that UNIDO has a chance to support Armenian women entrepreneurship by linking local and diaspora capacity, skills and knowledge through its flagship incubation platform. We believe that IDEA programme designed to promote youth and women entrepreneurship and facilitate their integration into the formal economy through a modular and flexible approach will be effectively employed by interested parties. Furthermore, there is a great untapped diaspora potential that can be attracted to develop innovative solutions and new ideas through this platform.”

In total, thirty-two women entrepreneurs with the support of thirty-six mentors developed bankable business plans completing eight core modules from value proposition to impact and growth plan. UNIDO and Bridge for Billions representatives made welcoming remarks followed by a certificate awarding ceremony.