YEREVAN. – The emphasis of the competition for innovation-oriented co-funded grants will be placed on engineering development in Armenia.

Director of Enterprise Incubator Foundation (EIF) of Armenia, Bagrat Yengibaryan, stated the above-said at a press conference on Wednesday.

In his words, a particular attention will be paid to funding respective companies in Armenia’s provinces.

The objective of this program is to promote the process of mastering technology, commercialize the results of scientific research, and encourage cooperation between science and the private sector, especially the small and medium-sized enterprise in Armenia.

The EIF director added that thirty projects are expected to be funded within 2.5 years.

Armenia-based companies with a focus on technology and respective track-record, which are registered in Armenia for at least one year, and are able to provide the needed co-funding can participate in this contest.

The deadline for submitting applications is February 5, 2017.

All competition-specific information can be found on the EIF website.