The European Union supports Armenian businesses through “Innovation for Economic Recovery for Micro, Small and Medium Size non-tech Companies” Grants Programme

28 July, 2020

The European Union’s EU4Business “Innovative Tourism and Technology Development for Armenia” project, in close cooperation with the RA Ministry of Economy, has launched a new Grants programme: “Innovation for Economic Recovery for Micro, Small and Medium Size (MSME) non-tech Companies”. 

The Grants programme targets for non-tech Micro, Small or Medium Size Companies in the fields of production and services (tourism, agriculture, technology and trade sectors are excluded!) that are looking for funding resources related to economic recovery caused by COVID-19.  

Micro, small and medium size companies from all over Armenia are invited to participate in this programme if they have  proposals that contain at least one of the following: Innovative products/business models; Innovative technology for business product/service delivery, Optimising business management systems, Logistics and hygiene, Tech solutions for access to markets and networks (e.g. digital marketing; e-commerce).

More details and complete information about the programme are presented in the Applicants’ Manual that describes in detail the whole chain and sequence of actions for application process. The announcement of the call for participation and  application package may be found at the follwing link Call for Applications, as well as on the website of the RA Ministry of Economy and other platforms (FB page of EU4BusinessTech project). The deadline for participation is 12 August, 2020. 

Stressing the importance of the Grants programme: “Innovation for Economic Recovery for Micro, Small and Medium Size Companies” for Armenian enterprises, the Ambassador of the European Union to Armenia Andrea Wiktorin said: “The European Union continues to support Armenia to overcome the impacts of the pandemic across different areas. After the recent tourism businesses’ grant scheme within the EU4Business initiative, we are happy to announce a new opportunity for innovative small businesses. We encourage Armenian entrepreneurs to actively participate in this support scheme which aims to contribute to bringing their innovative business solutions to the market. The EU remains committed to supporting a favourable ecosystem for MSME innovation and growth in Armenia”, concluded the Ambassador. 

Naira Margaryan, RA Deputy Minister of Economy mentioned: "The aim of this grants programme is to support small and medium-sized organisations, which face challenges under these difficult conditions of the pandemic, both in production and export, and in finding new markets and new customers, while demonstrating innovative approaches that will provide solutions to the difficult situation. We are looking for enterprenurs with innovative, interesting and unique ideas who know what they lack and see the way how to succeed but are in need for support”.

Wilhelm Hugo, Team Leader of the EU4Business “Innovative Tourism and Technology Development for Armenia Project said: “The EU4Business “Innovative Tourism and Technology Development for Armenia Project, which is co-funded by the European Union and implemented by German Development Cooperation – GIZ, in close cooperation with RA Ministry of Economy create a format for a priority support  to micro, small and medium sized enterprises that encounter many difficulties these days, likewise following the purpose to support the development of innovative ideas and models in entrepreneurship. Jointly with the Ministry we have developed this Grants programme with EU funding, which I believe is a wonderful opportunity for creative businesspeople to accomplish their ideas deferred due to financial difficulties caused by COVID-19.   We will continue supporting innovation and entrepreneurship in Armenia over the coming years in the scope of our programme”.  

Learn more about the organisations and programmes supporting the Grants Programme:

About the European Union

The Member States of the European Union have decided to link together their know-how, resources and destinies. Together, they have built a zone of stability, democracy and sustainable development whilst maintaining cultural diversity, tolerance and individual freedoms. The European Union is committed to sharing its achievements and its values with countries and peoples beyond its borders.

About the EU4Business initiative

EU4Business is an umbrella initiative that includes all EU support to small and medium businesses (SMEs) in the Eastern Partnership countries – Armenia, Azerbaijan, Belarus, Georgia, Moldova, Ukraine. EU4Business supports SME growth through improving access to finance, promoting better business regulations, improving services to business, and taking advantage of trade opportunities. EU4Business interventions result in creating and sustaining jobs, higher SME growth and increased SME exports. In 2019, EU4Business supported SME growth through 122 projects with budgets totaling €836 million. Read more:

About the he EU4Business “Innovative Tourism and Technology Development for Armenia” project

The EU4Business “Innovative Tourism and Technology Development for Armenia” is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and is being implemented by German Development Cooperation GIZ under the umbrella of the Private Sector Development and TVET South Caucasus Programme. It is part of the European Union’s EU4Business Initiative.

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Call for Proposals
EU4Business “Innovative Tourism and Technology Development for Armenia”
“Innovation for Economic Recovery for Non-technological Micro, Small and Medium Size Companies” Grants


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