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Event held on the 4th grant competition on financing education, science, research and support projects of SMBs 14.08.23

At the online event organized by KOBİA, some 100 SMBs were provided with detailed information about the 4th grant competition, and their questions were addressed.

Informative event was held on the announced 4th grant competition on financing education, science, research and support projects of SMBs. At the online event organized by the Small and Medium Business Development Agency (KOBİA), detailed information was conveyed to entrepreneurs about the competition and their questions were addressed.

Attended by some 100 SMBs, the event contained presentations by the employees of the Business Services Department of KOBİA on the terms of the competition and the project evaluation process. It was reported that in accordance with the rules approved by the Decision of the Cabinet of Ministers dated September 30, 2020, legal and natural persons qualify as micro, small and medium enterprises are encouraged to take part in the competition. Education, science, research and support projects regarding the development of SMBs are eligible for the competition. Each person can submit only 1 project proposal for the competition. The Expert Commission of representatives of relevant institutions and independent experts are to evaluate projects. The maximum amount of financing for each project is 20,000 manats. During the evaluation of the projects, its impact on the development of SMBs, innovativeness, the presence of a substantiated idea, the opportunities for application for practical purposes, the availability of the relevant logistics required for the implementation of the project and other such factors will be taken into consideration.

SMBs interested in taking part in the competition can obtain sample forms for the relevant application, project and budget feasibility studies, as well as other information from the special section created for this purpose on the Agency's website (bit.ly/3YB1x2F).

Documents can be submitted to the competition directly or electronically. Admission of the documents started on August 14 and will last until September 13 at 18:00. Information about the results of the competition will be posted on the official website of KOBİA (www.smb.gov.az) after November 15, 2023.

At the event, it was underlined that SMBs seeking support in the process of developing documents to be submitted to the competition are encouraged to benefit from free information, advice and training services of SMB development centers (KOBİM).