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Mentors for the winning startups of the Innovation Matching Grants (IMG) and Science and Technology Entrepreneurship (STEP) grants.

ANNOUNCEMENT

 

The “Support to SME development in Armenia” (SMEDA) project – co-funded through the European Union and the German Federal Ministry for Economic Cooperation and Development, and implemented by GIZ’s Private Sector Development in South Caucasus Programme in cooperation with Enterprise Incubator Foundation (EIF) is announcing a call for successful entrepreneurs, business executives, business consultants, angel investors to act as mentors for the winning startups of the Innovation Matching Grants (IMG) and Science and Technology Entrepreneurship (STEP) grants.


Business Development Support for innovative technology oriented Start-ups

The EU4Business "Support to SME Development in Armenia" (SMEDA) project, which 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 South Caucasus Programme, in cooperation with Enterprise Incubator Foundation announces “Innovation Matching Grants – Business Development Support for innovative technology Start-ups” grant competition.

Business Development Support for innovative technology oriented Start-ups

12.03.2018

 

The EU4Business "Support to SME Development in Armenia" (SMEDA) project, which 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 South Caucasus Programme, in cooperation with Enterprise Incubator Foundation announces “Innovation Matching Grants – Business Development Support for innovative technology Start-ups” grant competition.

 


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.

 

Furthermore, the project aims at stimulating the rate of technology absorption, technology transfer, innovation, and commercialization of research ideas in the private sector, and also fostering the collaboration between research centers and SMEs. In particular, the programme emphasizes the support of the development of viable technology enterprises in regions of Armenia, such as Gyumri and Vanadzor.

 

Competition is open to companies with technology background, as e.g. in the field of Engineering, CleanTech, Biotech, Advanced ICT (e.g. AI, Blockchain) etc., who are registered in the Republic of Armenia and are able to provide necessary co-financing. Sole entrepreneurs are not eligible to apply.

 

Activities covered by the grant are:

-       Development of industrial prototype

-       Production/Manufacturing

-       Market Validation

-       Product Launch

-       Market entry/Customer acquisition

-       Market Expansion

 

 

GRANT AMOUNT & CO-FINANCING REQUIREMENTS

The amount of grant per initiative is 35.000 EUR (the contract shall be concluded in AMD, EUR/AMD exchange rate would be determined based on the Armenian Central Bank exchange rate announced at the date of the winner notification). Up to 9 grants will be provided with project duration of 9 months.

 

 

Innovation Matching Grants (IMG) is open to companies from all over Armenia, and provides funding for maximum 50% of co-financing of project expenditures estimated by the applicant.Companies from regions (such as Gyumri, Vanadzor, etc) applying to the grant will have privilege of being provided up to 85% financing from the grant funds when the company location is minimum 50km distance from Yerevan.To support the development of technology cluster in Gyumri and Vanadzor companies, from Yerevan who want to extend their businesses with majority of project’s business operations being based in the regions are also eligible for 85% financing.


For more details please see full Annoncement.

 

Deadline for application submission is April 3, 2018, 23:59 Yerevan Time.

 

Applications must be submitted in English online via following linkhttps://goo.gl/forms/tNqrtDpSRS7mArM13

 

For all interested applicantes dedicated information sessions will be held.

 

 


In case of any questions regarding the grants competition, you may contact us by email: grantimg@eif.am or Tel: +37410 219797. 


For Media inquiries, please contact Nune Kochinyan, SMEDA's Communication Officer by email:nune.kochinyan@giz.de or Tel. 37410 26 99 86. 

 






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