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In the framework of E-Society and Innovation for Competitiveness (EIC) Project supported by Ministry of economy, EIF announces Innovation Matching Grants in ICT and High Tech as supporting mechanism for creation, growth and competitiveness of knowledge and technology-driven enterprises, as well as for encouraging traditional sectors to adopt new technologies.

Innovation Matching Grant (IMG) is intended to provide series of grants to technology startups and SMEs to support new 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.

IMG provides funding for maximum 50% of expenditures estimated by the applicant (startup, SME) for development and sales of new product/service meeting the objectives of the project.  

The applicant should ensure availability of the rest 50% of matching funds (30% cash and 20% in-kinds) for the grant project implementation from other sources, such as private sector industry, private investors/venture capital/private equity funds or the applicant’s own internal resources. 
Minimum amount of grant per initiative is 10.000 USD, maximum amount - 50.000 USD. Maximum duration of presented project is 1 year.