SMEDA - Support to SME Development in Armenia

Start/end date: 
2016 - 2019
Implementing partner: 
EU budget: 
€6.4 million

The 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. 


The overall objective of the project is to create employment opportunities by enhancing private sector development in Armenia. More specifically, the project aims to improve the national business and investment climate, and support the creation and development of SMEs to enable broad-based growth


The project targets all the relevant stakeholders involved in the development of SMEs in Armenia, with beneficiaries including:

  • Ministry of Economic Development and Investments of the Republic of Armenia
  • Small and Medium Entrepreneurship Development National Centre (SMEDNC)
  • Related sector associations
  • Armenian Chambers of Commerce
  • Designated SME support organisations
  • Free Economic Zones, selected clusters, precision engineering sector, creative industries etc.
  • Startups with high-tech and innovation background
  • SMEs in general


  • Support to the government in designing SME strategy, and strengthening the policy-making process.
  • Strengthen the capacity of the Small and Medium Enterprise Development National Centre (SMEDNC) in coordinating implementation of SME strategy.
  • Strengthen capacities at the Ministry of Economic Development and Investments of the Republic of Armenia (MEDI) to better manage Public-Private Dialogue mechanisms.
  • Strengthening of free economic zones, formation of clusters
  • Support for fora between the research community and private sector, and further mechanisms to link research institutions with the private sector.
  • Technical support to state bodies and private sector to access EU innovation support.
  • Training and capacity-building for SMEs, with a focus on start-ups
  • Action grants to support technology start-ups and SMEs promoting new products/services



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