Description of the project

Promprylad.Renovation is an innovation center on premises of Promprylad, a revitalized plant in Ivano-Frankivsk. The project will cover 37.000 m² area and create conditions necessary for business and social initiatives focused on the development of new economy, urban studies, contemporary art, and informal education in the region.

Idea to launch the pilot project was born in December 2016, and in June 2017 reconstruction of the third floor at one of the plant buildings on Sakharova street began. The goal was not only to reanimate the space but also to check if there is a demand for it among renters, and to develop a team able to implement such an ambitious idea, engage new partners, create a model to scale up during next project stages. 1,3 million dollars was raised through businesses, organizations, funds, and 21 private investors to renovate the pilot floor and open 16 functional spaces.

Today there are 12 operators representing 16 cultural, business and educational functional spaces on a 1700 m² floor. 120 people work here. In 6 months of pilot floor vigorous activity, 200 events visited by approximately 7000 people took place here. The space held 9 exhibitions at the contemporary art gallery, 20 big conferences, over 100 lectures and educational events, a few concerts and hackathons. Over 5000 people visit Promprylad.Renovation monthly. These are office visitors, guests of the events, investors and tourists interested in the project.

Promprylad.Renovation is an impact-investment project, which means the investor receives financial return on investments in the form of dividend payouts and social impact on regional development.

  1.  50% of the innovation center profits will be used to fund projects focused on 4 areas of regional development
  2.  30% of the center area rented out at a reduced rent rate to art, social, and educational projects, which will, therefore, promote their development and cooperation
  3. the project will use Social return of investment (SROI), a principle-based method for measuring social impact, developed by Social Value UK

Solves global goals

Reduced inequalities

The project focuses on four areas of the region's development: the new economy, urbanism, contemporary art and informal education. These areas are chosen to deal with a number of problems in the city and region, in particular low living standards, outflow of talent, low level of business development, low qualifications of the workforce, disparity in society, lack of innovative and creative enterprises.

Sustainable cities ans communities

An important part of the investment project is its social contribution to the development of the city and the community. At the planning stage, according to the methodology proposed by the PACT, it was calculated that each dollar invested in the project would create five dollars of social effect.

Partnerships for the goals

Strategic partnership allows you to implement this ambitious and ambitious project that is too large for any particular organization or company. All project partners are involved in events, strategic sessions, engagement of grant programs, investors, operators, project guests.

Quality education

Providing comprehensive and just education of high quality and encouraging the opportunity to study over a lifetime for everybody.

Decent work and economic growth

The main purpose of the renovation is to create an ecosystem of spaces which will be interesting to communities and businesses, attract new initiatives, and become a new cultural and business center in the city. Citizens will get a new public space for personal development, work and recreation which will be interesting, comfortable and beneficial to spend time at.

Industry, innovation and infrastructure

The project is aimed at unlocking economic potential of the city and region, developing city entrepreneurship and creating a model to follow for other cities. Creation of new jobs and businesses, development of existing businesses, development of partnerships, further education, migration of talented specialists back into the city, engaging external expertise, uprise of innovation projects.

Reduced inequalities

The project focuses on four areas of the region's development: the new economy, urbanism, contemporary art and informal education. These areas are chosen to deal with a number of problems in the city and region, in particular low living standards, outflow of talent, low level of business development, low qualifications of the workforce, disparity in society, lack of innovative and creative enterprises.

Sustainable cities ans communities

An important part of the investment project is its social contribution to the development of the city and the community. At the planning stage, according to the methodology proposed by the PACT, it was calculated that each dollar invested in the project would create five dollars of social effect.

Partnerships for the goals

Strategic partnership allows you to implement this ambitious and ambitious project that is too large for any particular organization or company. All project partners are involved in events, strategic sessions, engagement of grant programs, investors, operators, project guests.

Quality education

Providing comprehensive and just education of high quality and encouraging the opportunity to study over a lifetime for everybody.

Decent work and economic growth

The main purpose of the renovation is to create an ecosystem of spaces which will be interesting to communities and businesses, attract new initiatives, and become a new cultural and business center in the city. Citizens will get a new public space for personal development, work and recreation which will be interesting, comfortable and beneficial to spend time at.

Industry, innovation and infrastructure

The project is aimed at unlocking economic potential of the city and region, developing city entrepreneurship and creating a model to follow for other cities. Creation of new jobs and businesses, development of existing businesses, development of partnerships, further education, migration of talented specialists back into the city, engaging external expertise, uprise of innovation projects.

About the applicant organization

Promprylad.Renovation is an innovation center on premises of a revitalized plant in Ivano-Frankivsk, with four focus areas of regional development ‒ new economy, urban studies, contemporary art, and informal education.


Project partners

Teple Misto platform

NGO "Insha Osvita"

MitOst

PACT

Lviv Business School of UCU (Lvbs)

Ivano-Frankivsk City Council

Share

All projects

Have a project about sustainability?Submit and showcase it to the world.