Circular Economy Challenge Fund for MSMEs
About the Program
Impact Hub Yerevan, in collaboration with the American University of Armenia (AUA) Acopian Center for the Environment and with support from Sweden, proudly launched the Circular Economy Challenge Fund under the Waste Policy Armenia (WPA) program.
This competitive grant program is designed to identify and support innovative, scalable solutions addressing Armenia’s waste management challenges through circular economy approaches.
Aligned with Armenia’s national waste management strategy and the UN Sustainable Development Goals (SDGs 11, 12, and 13), the Fund empowers Micro, Small, and Medium Enterprises (MSMEs) to pilot projects that:
- Reduce waste generation
- Promote recycling/reuse systems
- Develop a measurable environmental and social impact
Program Highlights
11 MSMEs selected to participate in the program:
- HydroFresh
- SunHome Stepanavan Guest House
- White Bridge LLC
- TNT Group LLC
- Bax’s Food
- Dream of Bjni
- Sofi–Luxe clothing production
- Trimaran LLC – biomass processing
- Biogen Nanotechnologies
- Haterk Food
- EcoTught
- CIRCO Training: A 3-day certified workshop on circular design facilitated by international experts
- Pitch Competition (upcoming): After training, selected teams will present their solutions to an expert jury
- Funding: Up to 4 million AMD will be awarded to the 3 winning teams to implement their projects
Benefits for Participants
- CIRCO methodology certification
- Technical mentorship from AUA Acopian Center for the Environment and Impact Hub experts
- Networking with industry leaders
Benefits for Future Winners
- Funding up to 4 million AMD per project
- Visibility through AUA Acopian Center for the Environment and Impact Hub campaigns
Current Status
As a result of the final pitching event on October 31, 2025, the following initiatives have been selected to receive up to 4 million AMD in funding to bring them to life!
Armine Babayan – Bee Green
Bee Green produces reusable beeswax wraps for food storage, creating a waste-free production cycle. Their products are designed for a one-year lifespan and can be restored, promoting reuse and eliminating single-use packaging.
Heghine Hambardzumyan – Bax’s Food
Bax’s Food implements circular practices by using recycled paper for packaging and repurposing production waste into animal feed. They are actively exploring ways to further optimize resource use as part of their circular economy journey.
Narek Sargsyan – Bee Planet
Bee Planet operates a zero-waste apiculture model, creating new products like cosmetics from secondary bee products. This approach ensures that all materials from their beehives are utilized, generating additional value from what would otherwise be waste.
Galine Vartanian – Galine Galine
Galine Galine tackles the fashion industry’s pre-consumer waste problem by using Zero-Waste Design techniques, ensuring no fabric is wasted during cutting. The brand further embraces circularity by upcycling studio scraps into packaging and using sustainable, local materials.
Taron Hovhannisyan – TNT Group (Paros Garden)
Paros Garden employs circular agriculture by composting organic waste, using sustainable packaging, and creating a digital platform for community waste management. Their model turns agricultural by-products into resources and educates the community on closing resource loops.
Samvel Aghabekyan – Eco Tught
Eco Tught closes the loop on paper by collecting paper waste for recycling and manufacturing new paper products. They also reintegrate any waste generated from their own production process, creating a fully circular operation.