35 Armenian social enterprises received financial support in the amount of 186 million AMD from the EU-Supported COVID-19 Relief Fund. We would like to shine a spotlight on some of those who have demonstrated a certain level of investment readiness. Among these is the Homeland Development Initiative Foundation (HDIF), which has earned its spot on the EVPA Invest page!
Tim Straight founded Homeland Development Initiative Foundation – HDIF with a mission to empower women across Armenia while using traditional methods like crochet and felt to create products that have buyers in Germany, Italy, the US, and other countries. Currently, they have 235 producers and their goal is to employ a thousand producers by the year 2024 in order to have an impact on many more lives.
“To me, success is not about how many products we have sold but the number of lives we have touched,” Tim said.
In 2021, 54% of the HDIF revenue came from refugee groups like the one that Maral, one of the producers, is leading.
Find out more about the work of HDIF in the video where together with Tim and Maral, we also meet Lena, who started a small company thanks to HDIF making pillowcases and oven gloves that are very popular in the US as well as Genya who produces beautiful candles together with her family.
To learn more about the project visit their website – Homeland Development Initiative Foundation – HDIF.
HDIF impact
Over 230 producers
54% of revenue in 2021 comes from refugees groups
Plans for the future: Employ 1,000 producers by 2024
Up to 5 employees