Twelve technology teams to receive grants from Enterprise Incubator Fund in Armenia

YEREVAN, March 26. /ARKA/. Twelve technological projects will receive co-financed grants for innovative development from the Enterprise Incubator Fund (EIF) in Armenia, the press office of the EIF reported.

A total of 39 technology companies from Armenia were competing to win the support. The second stage of the contest is held by the EIF.

The first stage took place in Yerevan on February 13-14. The project is to help develop high technologies in the country, and engineering and IT in particular. Applicants are from Yerevan, Giumry and Vanadzor.

The competing projects are Wandelion, GGtaxi, My Day at home, Penny, Flaxton, Mobile Classroom, Ecotechnology, four teams from Giumry – FamBox,  BrickEvo, Movie Trip, EcoSnap, as well as a team from Vanadzor – E-Voca Project.

Winners will get a 50% co-funding for their projects, apart from those from Giumry and Vanadzor who will be entitled to 85% co-funding. The grant amount for projects is from $10,000 to $50,000.

Maximum project duration is one year.

Applications are now welcomed for the third stage; the application deadline is 17 April.

The program is implemented by the EIF, ministry of economy and the WB. –0—