YEREVAN. – Nine startups from Armenia will receive between 30,000 and 50,000 euros in grants, along the lines of the Innovation Matching Grants Competition.   

This competition is organized by the Enterprise Incubator Foundation (EIF) of Armenia, and within the framework of the European Union-co-funded “Support to SME [Small and Medium-Sized Enterprise] Development in Armenia” project.  

EIF Director Bagrat Yengibaryan on Thursday told reporters that 80 companies from the country participated in this competition, and 24 of them made it to the final.

These enterprises on Thursday will present their plans and arguments to a panel of judges, and as to why they should receive these grants.  

Subsequently, the panel will select the nine participants that will receive grants.

The names of these startups will be announced Friday.