Five start-ups win mini-grants under EU4Youth project in Armenia

Photo: European Union
Photo: European Union

Five Armenian start-ups have won grants under the EU4Youth programme, at the end of a three-month entrepreneurship training that brought together 19 young people from Ijevan.

The winners were annnounced at a special event in Ijevan on 25 September. The training was part of the Entrepreneurship component of the project ‘EU4Youth: Employability and Stability in Armenia, Belarus and Ukraine’, funded by the European Union.

During three months, experts and project participants went through the areas of business idea generation, business concept development, market research, marketing, financial management, tax and relevant legislation.

A total of 12 young people took part, developing business plans and taking part in the grant competition.

The winners will receive grants up to €4,000 to help turn their business idea into reality.

During the upcoming year, the five young grant winners will launch the following businesses in the region of Tavush:

  • Hamlet Davtyan is going to set up music production services for family, commercial and techno-music events.
  • Tigran Mayilyan will lunch a mushroom production facility for the catering and retail markets.
  • Nara Badalyan will promote the camping culture and camp tourism in the region.
  • Arman Gabrielyan is going to be the first entrepreneur, providing innovative entertainment services of virtual flying using 3D technologies in the most attended tour-park in the country.
  • Hayk Martirosyan will invest the grant in a child and family entertainment business establishing a puppet teather in combination with a teahouse, the first one in the city.

The mayor of Idjevan Hayk Ghalumyan hosted the award event. Tohether with the national director of SOS CV Armenia Spartak Sargsyan and founding director of the BSC Business Support Centre Samvel Gevorgyan, he expessed his willingness to support the start-ups in business development and further fundraising activities.

The Employability and stability in Armenia, Belarus and Ukraine project is funded by the European Union under its EU4Youth initiative. The project contributes to creating better prospects for employment and entrepreneurship among disadvantaged youth and to increasing their active participation in the labour market in Armenia, Belarus and Ukraine.

The project is implemented in Armenia by the BSC Business Support Centre and ‘SOS Children's Villages’ Armenia.

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Press release

Employability and stability in Armenia, Belarus and Ukraine