Armenia: Big funding opportunities for small companies

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The FINANCIAL — An event on promoting innovative growth in Armenia took place on 3 May in Yerevan.

The event, entitled “Nurturing innovative growth in Armenia – Support and financing opportunities for innovative SMEs and startups”, was attended by representatives of the private and public sector, business associations, companies and individuals. Participants learned about the possible financing opportunities for Armenian small and medium-sized businesses (SMEs) and discussed crowdfunding, early stage financing, seed funding, venture capital, as well as strong and weak points of the startup ecosystem, according to EU Neighbours East Info.

The EU Delegation to Armenia’s Head of Cooperation, Hoa-Binh Adjemian, stressed the importance of EU funding for Armenia: “It is important that Armenia became an associate member of Horizon 2020 with access to EUR 70 billion in funding for research and development projects. The EU will continue supporting Armenia’s growth, promoting innovation jointly with the private sector.”

The event was part of the “Support to SME Development in Armenia” project, which is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development. The project supports the improvement of the business and investment climate for SMEs and aims to strengthen the private sector.

 

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