Project Description

The project aims to contribute to the development of a more favorable social entrepreneurship ecosystem in the EaP region a. This will be done through raising awareness, promotion of social innovation and relevant exchanges with various policy and decision-making stakeholders that will ultimately lead to increasing the number of social investors, social entrepreneurs, and collaboration across the region. As a result, the project activities will support social enterprises to scale up their social impact.

The development of social entrepreneurship in Georgia will be promoted using Venture Philanthropy and Impact Investing approaches: 

According to EVPA Venture Philanthropy is a high-engagement and long-term approach to generating social impact through three practices:

• Tailored financing 

• Nonfinancial Organisational Support

• Impact measurement and management 

Project Goal

To contribute to the development of a more favorable social entrepreneurship ecosystem in the EaP region.

Project Objectives 

There are planned to be achieved the following objectives in Georgia:

• To promote Venture Philanthropy and Social Impact Investment;
• To support development of social innovations.

Project Outcomes

• Legal environment for Venture Philanthropy and Social Impact Investments will be studied;
• Awareness of corporate sector on Venture Philanthropy and Social Impact Investments will be increased;
• Impact Investing practices will be piloted – an Impact Fund will be established which will support at least 5 active social enterprises. Selected social enterprises will receive long-term, tailored financial and technical support aiming at scaling up impact and improvement of financial sustainability.
• In frames of the Social Innovation component of the project at least 4 startup social enterprises will be established.

Project Duration

60 Month (September, 2021 - August, 2025)

Project Donor

European Commission's Directorate-General for Neighbourhood and Enlargement Negotiations (DG NEAR)

Project is implemented by:

European Venture Philanthropy Association

Center for Strategic Research and Development of Georgia

Project Budget

505,500 EUR