Grant programs, aimed at boosting innovation in Armenia

Support to SME Development in Armenia (SMEDA) project and Enterprise Incubator Foundation will implement new matching grant competitions, aimed at boosting entrepreneurship and innovations in science and technology sector.  

EIF informs that up to 18 grants will be provided in 2017 and 2018/2019 for EUR 30 000 to 50 000, with a project duration of maximum 12 months within the Innovation Matching Grant competition.

Up to 10 grants will be provided in 2017 and 2018/2019 for EUR 15 000, with a project duration of maximum 12 months within the STEP Grant competition.

Innovation Matching Grant competition is already open to Armenian companies with a high technology background, for example in the fields of Engineering, Cleantech, Biotech, etc. The competition requires registration in the Republic of Armenia for at least one year and ability to provide the necessary co-financing. Application deadline is February 5th, 2017.
“This project is an exceptional opportunity for Armenian technological community and for the country as a whole, as it not only supports organizations, but also boosts competition. Such programs in IT sector showed that it is possible to build Armenian companies, developing their own solutions and production. EIF has successfully implemented Science & Technology Entrepreneurship Program (STEP) for 10 years, which supported more than 50 start-ups. Matching Grant competition is the next example, which allowed us to develop Armenian solutions, already known worldwide,” said Bagrat Yengibaryan, Director at Enterprise Incubator Foundation.

The grant competition will be announced in January, 2017.