Support to SME Development in Armenia | EUNewsletter

Support to SME Development in Armenia

23 May 2017
ARS_5005

On 3 May an investment event was held as part of the “Support to SME Development in Armenia” (SMEDA) project. The theme of the event was nurturing innovative growth and supporting and financial opportunities for innovative SMEs and start-ups.
SMEDA is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and will run till 2019. It is a component of the EU’s EU4Business and EU4Innovation initiatives and is being implemented by GIZ Private Sector Development in South Caucasus Programme.
The investment event was visited by representatives from the private and public sectors, business associations and companies, as well as individual entrepreneurs. They learned about available financial opportunities for Armenian SMEs and other forms of support. A highlight was a presentation on an innovation ecosystem for start-ups in Armenia. Panel discussions focused on helping Armenian start-ups access international markets through the EU support.

ARS_4994Hoa-Binh Adjemian, the Head of Cooperation Section of the EU Delegation to Armenia, noted the strategic importance of Armenia in this sphere during the event: ‘The European Union provides support to various sectors which focus on economic stability and growth, such as innovation, education, science and ICT, cooperation with universities, etc. It is important that Armenia became an associate member of Horizon 2020 with an access to €70 billion funding for research and development projects. The EU will continue to support Armenia’s growth, by promoting innovation jointly with the private sector’.

ARS_5024Tigran Khachatryan, the Armenian Deputy Minister of Economic Development and Investments, praised SMEDA’s work in boosting economic growth: ‘SMEs are the backbone of economic development; innovation is the engine to promote SME growth. It is necessary to support them, as Armenia currently lacks the funding mechanisms required. This type of event is good as it allows Armenian SMEs to learn about new funding tools’.

The event concluded with a reception to allow participants to network, share information, and meet international investors and experts.

Support to SME Development in Armenia

On 3 May an investment event was held as part of the “Support to SME Development in Armenia” (SMEDA) project. The theme of the event was nurturing innovative growth and supporting and financial opportunities for innovative SMEs and start-ups. SMEDA is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and will run till 2019. It is a component of the EU’s EU4Business and EU4Innovation initiatives and is being implemented by GIZ Private Sector Development in South Caucasus Programme. The investment event was visited by representatives from the private and public sectors, business associations and companies, as well as individual entrepreneurs. They learned about available financial opportunities for Armenian SMEs and other forms of support. A highlight was a presentation on an innovation ecosystem for start-ups in Armenia. Panel discussions focused on helping Armenian start-ups access international markets through the EU support.

ARS_4994Hoa-Binh Adjemian, the Head of Cooperation Section of the EU Delegation to Armenia, noted the strategic importance of Armenia in this sphere during the event: 'The European Union provides support to various sectors which focus on economic stability and growth, such as innovation, education, science and ICT, cooperation with universities, etc. It is important that Armenia became an associate member of Horizon 2020 with an access to €70 billion funding for research and development projects. The EU will continue to support Armenia’s growth, by promoting innovation jointly with the private sector'.

ARS_5024Tigran Khachatryan, the Armenian Deputy Minister of Economic Development and Investments, praised SMEDA’s work in boosting economic growth: 'SMEs are the backbone of economic development; innovation is the engine to promote SME growth. It is necessary to support them, as Armenia currently lacks the funding mechanisms required. This type of event is good as it allows Armenian SMEs to learn about new funding tools'.

The event concluded with a reception to allow participants to network, share information, and meet international investors and experts.