EU Support to SME Development in Armenia | EUNewsletter

EU Support to SME Development in Armenia

21 March 2018
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On 14 March a press conference was organised to announce the second cycle of the “Innovation Matching Grants – Business Development Support for Innovative Technology Start-ups” grant competition under the “Support to SME Development in Armenia” (SMEDA) project. This competition is open to tech companies (e.g. engineering, cleantech, biotech, advanced ICT, etc.) registered in the Republic of Armenia and able to provide co-financing. Individual entrepreneurs are not eligible to apply.
Activities covered by the grant will cover: development of industrial prototypes; production/manufacturing; market validation; product launch; market entry/customer acquisition; market expansion. Grant size is up to €35,000 per initiative. Up to 9 grants will be provided with project duration of 9 months. Applicants are obliged to provide 50% co-financing (i.e. up to €35,000€) if based in Yerevan, and 15% co-funding if based in the marzes. The first cycle of the EU Innovation Matching Grants started in January 2018, with 9 companies having received funding. The deadline for application submission of the second cycle is 3 April 2018.
SMEDA is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ), and implemented by GIZ’s Private Sector Development in the South Caucasus Programme. It is part of the European Union’s EU4Business and EU4Innovation initiatives. The aim of the project is to support technology-oriented ventures and to increase the competitiveness of existing SMEs by providing financial and technical assistance to develop new innovative products and services for domestic and global markets.

DSC_4350The International Aid/Cooperation Officer of the EU Delegation to Armenia, Stanislav Toshkov, announced the opening of the call: ‘Economic development is one of the major pillars of EU development cooperation with Armenia. In that regard we consider SMEs to be the backbone of the economy. The EU stands ready to support innovative SMEs which can bring higher added value to the economy. This support comes under the EU4Business and EU4Innovation umbrella and we have a number of projects. SMEDA is one of the flagship projects of the European Union. Therefore, in this and other projects we want to see tech companies accelerated via different means. Therefore, we are announcing the second cycle of the “Innovation Matching Grants – Business Development Support for Innovative Technology Start-ups” grant competition. The first grants cycle produced exciting project ideas so we are looking forward to receiving new, high-quality applications!’

DSC_4384SMEDA Team Leader Eva Maria Näher presented the project and the grant scheme: ‘The second cycle is based on the results of the first, which started very successfully. We see this grant scheme is very important support to the development of a start-up ecosystem in Armenia. This is not only about the grants given to companies, it is also about the integration and full programme of support that helps start-ups to develop further. We hope for very broad participation as we are convinced that there will be very positive results’.

EU Support to SME Development in Armenia

On 14 March a press conference was organised to announce the second cycle of the “Innovation Matching Grants – Business Development Support for Innovative Technology Start-ups” grant competition under the "Support to SME Development in Armenia" (SMEDA) project. This competition is open to tech companies (e.g. engineering, cleantech, biotech, advanced ICT, etc.) registered in the Republic of Armenia and able to provide co-financing. Individual entrepreneurs are not eligible to apply. Activities covered by the grant will cover: development of industrial prototypes; production/manufacturing; market validation; product launch; market entry/customer acquisition; market expansion. Grant size is up to €35,000 per initiative. Up to 9 grants will be provided with project duration of 9 months. Applicants are obliged to provide 50% co-financing (i.e. up to €35,000€) if based in Yerevan, and 15% co-funding if based in the marzes. The first cycle of the EU Innovation Matching Grants started in January 2018, with 9 companies having received funding. The deadline for application submission of the second cycle is 3 April 2018. SMEDA is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ), and implemented by GIZ’s Private Sector Development in the South Caucasus Programme. It is part of the European Union's EU4Business and EU4Innovation initiatives. The aim of the project is to support technology-oriented ventures and to increase the competitiveness of existing SMEs by providing financial and technical assistance to develop new innovative products and services for domestic and global markets.

DSC_4350The International Aid/Cooperation Officer of the EU Delegation to Armenia, Stanislav Toshkov, announced the opening of the call: 'Economic development is one of the major pillars of EU development cooperation with Armenia. In that regard we consider SMEs to be the backbone of the economy. The EU stands ready to support innovative SMEs which can bring higher added value to the economy. This support comes under the EU4Business and EU4Innovation umbrella and we have a number of projects. SMEDA is one of the flagship projects of the European Union. Therefore, in this and other projects we want to see tech companies accelerated via different means. Therefore, we are announcing the second cycle of the “Innovation Matching Grants – Business Development Support for Innovative Technology Start-ups” grant competition. The first grants cycle produced exciting project ideas so we are looking forward to receiving new, high-quality applications!'

DSC_4384SMEDA Team Leader Eva Maria Näher presented the project and the grant scheme: 'The second cycle is based on the results of the first, which started very successfully. We see this grant scheme is very important support to the development of a start-up ecosystem in Armenia. This is not only about the grants given to companies, it is also about the integration and full programme of support that helps start-ups to develop further. We hope for very broad participation as we are convinced that there will be very positive results'.