Armenian start-up Grovf, supported by EU4Business and engaged in the Internet of Things (IoT) and database hardware acceleration, has been awarded a grant from Horizon 2020 – the biggest EU Research and Innovation programme.
The start-up was supported and guided by the ‘Support to SME development in Armenia project’ (SMEDA) throughout the whole application process. The company plans to use the grant to further improve their product, concentrating on market and customer research, IP and a phase 2 business plan.
The EU4Business SMEDA project supports the improvement of the business and investment climate for small and medium-sized enterprises (SMEs) in Armenia. It aims to strengthen the private sector, support SME coordination mechanisms, and foster links between research institutions and the private sector, as well as providing access to finance for SMEs.
Horizon 2020 is the EU’s biggest research and innovation framework programme, with a budget of €77 billion over seven years (2014-2020). The vast majority of this funding will be allocated on the basis of competitive calls, which are open to applications from researchers, businesses and other interested organisations located in any of the EU Member States or countries associated with Horizon 2020, including the EU Neighbourhood countries of Armenia, Georgia, the Republic of Moldova and Ukraine.
As of October 2017, Horizon 2020 has funded more than 15,000 grants, amounting to €26.6 billion.
