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The results of the grant competition announced to finance projects of SMEs have been announced 24.02.22

The results of the second grant competition announced to finance science and support projects of micro, small and medium enterprises have been announced. A decision was made to finance 13 out of 200 projects submitted to the competition held by the Small and Medium Business Development Agency (SMBDA).

At the meeting of the Expert Commission established for the examination of projects on February 24, it was noted that a total of 200 projects were submitted to the competition, including 194 SMEs and 6 non-entrepreneurs. 93 SME projects belong to legal entities, 101 to individuals, including 186 micro, 5 small and 3 medium enterprises.

Of the projects submitted to the competition, 131 are support, 7 are research and 62 are projects in other areas.

It should be noted that the documents for the 2nd grant competition announced to finance science and support projects of micro, small and medium enterprises were accepted from November 15 to December 14, 2021, and the examination and evaluation of projects were implemented from December 16, 2021 to February 10, 2022.

During the evaluation of projects by the Expert Commission in accordance with the criteria approved by the Cabinet of Ministers on September 30, 2020, its impact on the development of micro, small and medium enterprises, innovation, soundness of ideas, opportunities for practical purposes, the necessary experience for project implementation and the availability of material and technical base and other such factors were taken into account. Each of the winning projects will receive a maximum of 20,000 manat.

For more information: https://smb.gov.az/en/nav/grant