15 talented Armenian Startups receive support to realise their innovative projects
On May 5th the winners of the application process for Innovation Matching Grants (IMG) and Science and Technology Entrepreneurship program (STEP) grant schemes were announced - as a result of 2-day pitching events where the 38 shortlisted startup teams and companies participated and pitched their innovative ideas and projects.
The “Innovation Matching Grant” (IMG) and “Science and Technology Entrepreneurship Programme” (STEP) competitions were announced by the “Support to SME Development in Armenia” (SMEDA) project, co-funded by the EU and implemented by GIZ. SMEDA is part of the EU4Business and EU4Innovation initiatives of the European Union. The grant schemes are implemented in cooperation with the Enterprise Incubator Foundation (EIF). Both, IMG and STEP aim at promoting entrepreneurship and advancing innovative technology-based ideas in Armenia and to help startup teams, innovators, scientists, engineers, researchers, and entrepreneurs to move their products to the market, create new ventures, and promote innovation and entrepreneurship in Armenia.
Ten winners were announced for the IMG competition. These winners will be now further accompanied by international experts in preparing their project to receive funding from 30,000 – 50,000 EUR to transform their ground-breaking ideas into real products.
For the STEP competition five winners were announced, who will equally be accompanied to prepare their projects in order to receive funding of up to EUR 15,000 to engage actively into the realisation of their scientific and technology oriented project.
Before the final stage of competitions coaching and mentorship was provided to the applicant teams and companies by international and local experts active in entrepreneurship development and investments. This support will be ongoing for the winners in the form of mentorship, networking with potential investors, assisting with commercialisation strategies and analyses of innovative products, etc.
The winning stratups of IMG competition are:
- Volterman Smart Wallet
- FPGA Key Value Database for IoT
The winning startups of STEP competition are:
- Financial Tech
- CNC Machine line
- One – Click key
- Custom I/O modules for NI my RIO and ElvisRIO platforms
- CDM for Education, Based on New Generation Optical Element
Armenia will be represented at Hannover Messe 2018
SMEDA supports four Armenian Precision Engineering and IoT companies, namely RAFA Solutions, Bitlis-MEN, Volterman Inc. and Grovf and several representatives of Free Economic Zones and the Ministry of Economic Development and Investments of Armenia to be part of this year's Hannover Messe 2018 trade fair under a joint stand, followed by a roadshow in German companies among which the famous Autostadt Volkswagen.
Business Membership Organisations' (BMO) Academy
SMEDA is organising a 3-week Business Membership Organisations' (BMO) Academy for Armenian BMOs with no less than 20 SMEs as members. The aim of the Academy is to enhance the capacities of BMOs to organise themselves as active professional associations able to build constructive dialogues with authorities when defining economic and sectoral policies.
EAVE on Demand Producers Workshop in Armenia 2018
SMEDA is supporting the EAVE on Demand Producers Workshop in Armenia 2018, aimed at producers, both fiction and documentary, who are interested in developing their feature film project during a 3-day intensive training program from April 12 to 16, outside of Yerevan.
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The Press Conference held on January 10, 2018 aimed at announcing broadly about the Eave on Demand Producers' Workshop in Armenia 2018. The initiative is supported by SMEDA project targeting producers, both fiction and documentary, who are interested in developing their feature film project during a 3-day intensive training program from April 12 to 16, outside of Yerevan.
SMEDA has implemented numerous activities in 2017 within its five main result areas and beyond to support & promote SMEs, Startups, Innovation, Precision Engineering, Free Economic Zones, Technoparks, Creative Industries, Regional development, and many more as highlighted in this video: http://bit.ly/2BMn9kl
The Armenia Startup Academy (ASA) was officially launched at the Hero House and is now contributing to the Startup Ecosystem of Armenia. The initiative is supported by SMEDA and implemented by Catalyst Foundation aiming to boost the startup ecosystem and bring the Armenian startups to the next level. With the help of a team of advanced mentors, advisers, instructors and entrepreneurial assistants it offers a pre-acceleration programme to guide tech companies and startup teams through the process of customer development using advanced tracking methodologies and instruments.