11:26 | 20.01.17 | News | 11196

STEP accepts applications

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 PSD SC Regional Program, announces in cooperation with Enterprise Incubator Foundation (EIF) the launch of the Science and Technology Entrepreneurship (STEP) program.

Application deadline is February 17, 2017.

The program aims at igniting the spark of entrepreneurship and advancing innovative technology-based ideas in the market.

The overall objective of the program is helping start-up teams, innovators, scientists, engineers, researchers, and entrepreneurs move their products to the market, create new ventures, and promote innovation and entrepreneurship in Armenia.

Competition is open to start-up teams, consisting of two or more participants, willing to develop an idea with high technology in the fields of engineering, cleantech, biotech, etc., in Armenia. All applicants, including all members of the applying teams, must be citizens or permanent residents of Armenia and reside in Armenia at the time of application submission.

The competition will also support grantees with the following activities:

-  Access to seed funding through STEP for the winner start-up companies;
- Mentorship, networking opportunities, and expertise in user-centered innovation commercialization strategies and business development;
- Contacts with potential investors.

Up to 10 EUR 15.000 grants will be provided in 2016-2018 with maximum 12-month project duration. In total, 2 grant cycles will be announced. Each project will be required to have a 5% co-financing of the grant amount.
The competition aims at supporting high-technology driven projects. Therefore, the proposals should not focus on the development of web applications and platforms, such as e-commerce, and other e-service platforms, solutions for business process automation, mobile applications and services.

Support to SME Development in Armenia (SMEDA) project is part of the EU4Business and EU4Innovation Initiatives.