SMEDA is focusing on the following result areas
SMEDA concentrates on improving the policy making process and coordination of supports to SME development. Here, we work on ensuring that SMEs are better and more actively involved in policy making and legislative processes and that more efficient public-private dialogue mechanisms are in place. In order to achieve this, we are engaging business organisations (BMOs, BROs, BSOs) in this process. To make accurate projections and monitoring on SMEs, the Government and any interested entity should have access to comprehensive and reliable statistics on SMEs. Hence, we are developing with international and national experts these statistics to help implement the SME Strategy 2016-2018 on a reliable basis.
We also target private sector organisations and work closely with Business Membership Organisations (BMO) to increase the range of quality services provided and increase their membership base. Business associations need to be strengthened in their membership management to better advocate for private sector topics. SMEDA collaborates for this with various BMO, BRO, and BSO to provide better services. As a result, more recommendations on effective SME strategies and appropriate policies nationwide and a strategy shall be presented and implemented through the support of strong business associations.
Here SMEDA works to improve the economic development in Armenia through the commercialisation of ideas, linking research institutions and businesses via cooperation networks that promote and focus on innovation. Cooperation platforms and joint collaboration between the private sector and the research community are being facilitated by SMEDA to compete in EU’s programme for Research and Innovation “Horizon 2020” (H2020) and COSME. Furthermore, SMEDA supports the Government in developing an Innovation Strategy and contributes to promoting innovation-related policies and projects.
We focus on an improved management and design of economic clusters including incubators, techno-parks, Free Economic and Industrial Zones. Besides strengthening the economic clusters, SMEDA contributes to a sustainable overall concept to allow economic clusters to become an integral part of Armenia’s economic development. As most promising sectors for potential clustering- Precision Engineering and High-Tech, Clean Tech, and Creative and Cultural Industries were identified followed by a number of measures and activities by SMEDA.
SMEDA aims at establishing access to a more diversified financing portfolio for Armenian start-ups and existing SMEs. SMEDA provides both grant schemes and other alternative measures to offer better financial assistance to innovative ideas that may furnish new business models or other entrepreneurial opportunities. For this intend, SMEDA works with the Enterprise Incubator Foundation (EIF) as its major implementing partner to provide funding for two cycles for Innovation Matching Grants (IMG) and Science and Technology Entrepreneurship Programme (STEP) grants to technology-based Armenian start-ups. SMEDA likewise supports the Armenian startups and SMEs with finding alternative funding sources.
The "Support to SME Development in Armenia" or SMEDA project commenced in 2016. It is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and it is implemented by GIZ’s “Private Sector Development in South Caucasus Programme”. SMEDA is part of the EU4Business (www.eu4business.eu) and EU4Innovation initiatives of the European Union.
The objective of SMEDA is to improve the business and investment climate and support the creation and development of SMEs to enable broad-based growth in Armenia along five result areas.
The project is implemented in cooperation with different partners aiming at strengthening the private sector, strengthening the capacities of Armenian SMEs to foster competitiveness, linking research and economic institutions, ensuring proper implementation of innovation business management practices, promoting and developing economic clusters, free economic zones, incubators, and techno-parks.
The focus of SMEDA is in general the support to small and medium sized enterprises (SME) in Armenia. To do this, SMEDA works on different levels to strengthen the business environment – for example through supporting the development of national strategies for private sector development, the implementation of the SME strategy in Armenia and the development of a statistical overview over the SME in Armenia in order to target strategies and initiatives on their particular needs. The key partner in this area is the Ministry of Economic Development and Investments (MEDI) as well as the SME Development National Center (SMEDNC).
SMEDA also focuses on the support for business associations so that they may better advocate and lobby for SME relevant topics. Another focus is on improved linkages between research institutions and the private sector in order to achieve a better rate of commercialisation of ideas. A key partner in this field is the National Academy of Science.
The development of economic clusters, techno-parks, incubators, free or industrial zones are another field for activities. The objective here is to improve the management of these entities and turn them into stronger hubs for economic development throughout Armenia.
An additional field of activities targets the development of alternative funding mechanisms for innovative start-ups and existing companies. The Enterprise Incubator Foundation (EIF) is a key partner here.