25.03.2015
The establishment of innovative ideas and new technology companies has been encouraged
On March 23-24 the conclusion of the second call of matching grant competition takes place at Ararat hall of the Armenia Marriott Hotel.
7 projects were winners of the Innovation Matching Grants Competition: "Vandelion", "GG Taxi", "My day at home", "Penny", "Flaxton", "Mobile Classroom" and "EcoTechnologies".
4 projects were winners of Gyumri Matching Grants Competition: "FamBox", "BrikEvolution", "Movie Trip" and "EcoSnap". 1 project was the winner of Vanadzor Matching Grants Competition: "E-Voca Project".
Within the framework of Matching Grants Competition for the implementation of their projects the authors will receive 50% co-financing, the projects implemented in Gyumri and Vanadzor will receive 85 % co-financing.
Minimum amount of grant per initiative is 10.000 USD, maximum amount - 50.000 USD. Maximum duration of presented project is 1 year. 55 companies applied for participation in the second call of Matching Grants Competition. 39 of them have a chance to present their projects. The assessment committee is composed of the representatives of Ministry of Economy, "Granatus Venture Fund" and a private sector.
The awarding ceremony was attended by Deputy Minister of Economy of RA Emil Tarasyan, Director of Enterprise Incubator Foundation Bagrat Yengibaryan, The World Bank's Senior Operations Officer Sandra Sargent.
During the awarding ceremony Deputy Minister Emil Tarasyan delivered a speech. "The ideas that win will be used." -, said Deputy Minister. Tarasyan expressed with satisfaction that year by year the number of participants increases.
"Matching Grants Competition is one of means to implement our objectives. As a result of the Competition new companies, working with innovative technologies, have being established throughout Armenia",- noted Director of Enterprise Incubator Foundation Bagrat Yengibaryan.
"Armenia has a great potential for the development of telecommunication and information technologies. Almost everyone has an innovative idea and project in Armenia, which is very gratifying",- said Sandra Sargent, the World Bank's Senior Operations Officer.
Now the next round of Matching Grants Competition is announced. The participants can send their application form to EIF before April 17, 2015.
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The establishment of new technology companies has been encouraged 
