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Press Release

ESMT Berlin students cooperate with Initiatives for Development of Armenia (IdeA) Foundation

An announcement on the collaboration was made on 12 December, during the Aurora Dialogues event in Berlin attended by IDeA co-founder Ruben Vardanyan and ESMT President Prof. Jörg Rocholl.

From April 2019, an international group of Мasters in Management students from seven different countries studying at ESMT will be involved in the development of a project in Gyumri, a city affected by a devastating earthquake 30 years ago. IDeA is now pursuing an initiative to rebuild the Gyumri Friendship Park and transform it into a unique public recreation area for locals. This initiative strives to contribute to the city’s renewal, boost its economic activity, and ensure a sustainable future for Armenia’s second-largest city. The project is unique in its combination of social entrepreneurship, charity and public-private partnerships.

“ESMT Berlin, an international business school founded in Germany, educates talented and motivated students from around the world. They are highly qualified to bring bright ideas and management knowledge for implementation of IDeA’s ambitious projects in Gyumri. We are looking forward to our collaboration,” said Yelena Muradyan, Project Manager of the Gyumri Development Program at the IDeA Foundation.

In the framework of IDeA-ESMT collaboration, the students will have the opportunity to invest their knowledge in the project scoping, evaluation of its social impact, development of a fundraising strategy and other spheres, contributing to improved project management practice in Armenia and gaining experience in large-scale project development.

“This project will address ways to effectively utilize abandoned public space in the once flourishing city of Gyumri. Our masters' students thus have the chance to contribute to one of the most ambitious urban regeneration projects in the region,” commented Nick Barniville, Associate Dean of Degree Programs at ESMT. 


About IDeA Foundation

IDeA (Initiatives for Development of Armenia) is a private, non-profit foundation established by the entrepreneurs and philanthropists Ruben Vardanyan and Veronika Zonabend. IDeA focuses on programs which achieve tangible socioeconomic development and assist Armenia in transition from the survival model to the prosperity model. IDeA is committed to promote social entrepreneurship in Armenia through investments in long-term, non-profit projects, as well as ensuring their sustainability.

About ESMT Berlin

ESMT Berlin was founded by 25 leading global companies and institutions. The international business school offers a full-time MBA, an executive MBA, a master's in management, as well as open enrollment and customized executive education programs. ESMT focuses on three main topics: leadership, innovation, and analytics. ESMT faculty publishes in top academic journals. Additionally, the business school provides an interdisciplinary platform for discourse between politics, business, and academia. It is based in Berlin, Germany, with a branch office in Shanghai, China. ESMT is a private business school with the right to grant PhDs and is accredited by the German state, AACSB, AMBA, EQUIS, and FIBAA.