SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

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Applications for funding Education, Science, Research, and Support projects are now open 17.02.21

Applications for funding Education, Science, Research, and Support projects within the competition announced by Small and Medium Business Development Agency (SMBDA) opened on February 17.

An informative webinar was held by SMBDA to inform entrepreneurs about the competition and answer their questions. At the webinar, organized with the participation of about 150 SMBs, presentation on the terms of the competition and the evaluation process of projects was held by SMBDA representatives Natig Heydarov and Elmaddin Hajiyev, numerous questions of SMBs were answered. It was noted that in accordance with the Guidelines approved by the Decision of the Cabinet of Ministers of September 30, 2020, legal and physical entities belonging to micro, small and medium businesses are eligible to participate in the competition. Projects on Education, Science, Research, and Support for SMB development can be submitted for the competition. One person can submit only 1 project to the competition. Implementation period for projects shall be at least 3 and not more than 12 months. Fully funded, ongoing or completed projects by other agencies may not be financed additionally or re-financed by the Agency. The maximum amount of funding for each project is 20,000 AZN.

SMBs wishing to participate in the competition can receive Application Form, Project and Budget Rationale, as well as other information from the special section created on the Agency's website. Documents for the competition can be submitted either directly or electronically. Applications are open till March 18. The results of the competition will be posted on the official website of SMBDA (www.smb.gov.az) after April 19, 2021.

During the webinar, the SMB Development Centers will provide assistance to SMBs for the preparation of the relevant documents to be submitted to the competition. Thus, SMBs who need support in the process of preparing the documents to be submitted to the competition can benefit from free information support, consulting, and training services of SMBDCs.

It should be noted that during the evaluation of the projects to be submitted to the competition, the impact of the project on the development of micro, small and medium-sized entrepreneurship, innovation, the existence of a justified idea, the possibilities of application for practical purposes, the availability of the relevant material and technical base required for the implementation of the project and other factors will be considered.