EFSE to support new model for financing early-stage start-ups and R&D companies in Armenia
October 5, 2022

EFSE to support new model for financing early-stage start-ups and R&D companies in Armenia

The Development Facility of the European Fund for Southeast Europe (EFSE DF) will support Armenia-based pre-seed venture capital firm SmartGateVC in implementing a new financing model for early-stage start-ups and research and development (R&D) companies. 

The model is the first of its kind in the market, aimed at fostering innovation and knowledge creation in Armenia. The new financing model pioneers a recoverable grant system, whereby the recipients of the grants will have to return the grant amount when achieving certain solid milestones. This way the recovered amount will be used for similar grants in the future thus making the same money work for the start-up ecosystem in multiple cycles. 

A total of four reimbursable grants totaling €100,000 will match SmartGateVC’s investment up to €25,000 for early-stage start-ups and up to €50,000 for research and development companies. 

Find out more

Press release


Interested in the latest news and opportunities?

This website is managed by the EU-funded Regional Communication Programme for the Eastern Neighbourhood ('EU NEIGHBOURS east’), which complements and supports the communication of the Delegations of the European Union in the Eastern partner countries, and works under the guidance of the European Commission’s Directorate-General for Neighbourhood Policy and Enlargement Negotiations, and the European External Action Service. EU NEIGHBOURS east is implemented by a GOPA PACE-led consortium. It is part of the larger Neighbourhood Communication Programme (2020-2024) for the EU's Eastern and Southern Neighbourhood, which also includes 'EU NEIGHBOURS south’ project that runs the EU Neighbours portal.

The information on this site is subject to a Disclaimer and Protection of personal data. © European Union,