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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.

MATCHING GRANTS COMPETITION

Enterprise Incubator Foundation (EIF), in partnership with the World Bank and the Government of RA, is administering a series of matching grants programs in ICT and High Tech as a supporting mechanism for creation, growth and competitiveness of knowledge and technology-driven enterprises in Armenia, as well as for encouraging traditional sectors to adopt new technologies.

 

EIF’s matching grants programs are intended to provide grants to support new solution, product, service or process adaptation, improvement and/or development, which would stimulate the rate of technology absorption, technology transfer, innovation and commercialization in the private sector, foster collaboration between research centers and industries and promote the development of new technology-driven companies across Armenia, with particular emphasis in supporting the development of viable technology enterprises in Gyumri and Vanadzor. 

Minimum amount of grant per initiative is 10.000 USD, maximum amount - 50.000 USD. Maximum duration of presented project is 1 year.

 

These programs include the following: 

  • Innovation Matching Grants (IMG): IMG is designed to provide financial assistance to teams, technology startups (may vary from development of mobile application and web project to development of complex software, solving different business process issues or complex engineering solutions) and up to 3-year old existing technology companies/ SMEs to support their development of  innovative products/services and/or market them. This grant provides funding for maximum 50% of expenditures estimated by the applicant for development and sales of new product/service meeting the objectives of the project. 
  • Gyumri and Vanadzor Matching Grants: Gyumri Matching (GMG) and Vanadzor Matching Grants (VMG) are designed to provide financial assistance to technology startup teams and companies to accomplish the development of innovative technology products/services and the marketing of them,   as well as to expand their operation in Gyumri and Vanadzor. All projects under the respective grant program must show a clear commercialization strategy and be aimed at implementing the business project in Gyumri or Vanadzor, as the case may be.This grant provides funding for maximum 85% of expenditures estimated by the applicant for development and sales of new product/service meeting the objectives of the project.

Operation Manual   of the competition, which includes detailed description of the grants and Application form can be downloaded from here.

 

Project winners list: Grants-Winners-2014-2015


For More Photos of event please follow this link.


For more information about startups please visit http://startups.eif.am 



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