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Results of the 4th grant competition for financing the SMBs` projects announced 29.11.23

A grant will be allocated to fund 19 projects of SMBs.

The results of the 4th grant competition for the financing of education, science, research and support projects of micro, small and medium business entities have been announced. It was decided to finance 19 of the 382 projects submitted to the competition held by the Small and Medium Business Development Agency (KOBİA). Each of the winning projects will receive a maximum of 20,000 manats.

At the November 29 meeting of the Expert Commission established to examine the projects, it was emphasized that a total of 382 projects were submitted to the competition, 369 of which belonged to SMBs and 13 of which belonged to non-business entities. Of the projects submitted by SMBs, 163 belong to legal entities, 206 to natural persons, while 357 of them were submitted by micro business entities and 12 of them were submitted by small business entities. Of the projects submitted to the competition, 178 are educational, 23 are scientific, 51 are research, and 130 are support projects.

Acceptance of documents for the 4th grant competition for the financing of education, science, research and support projects of micro, small and medium businesses was carried out on August 14-September 13, 2023, whereas the examination and evaluation of the projects was carried out between September 15 and November 14, 2023. In accordance with the criteria approved by the Decision of the Cabinet of Ministers dated September 30, 2020 during the evaluation of projects by the Expert Commission, 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 necessary experience and relevant logistics required for the implementation of the project and other such factors will be taken into consideration.

For detailed information about the winning projects, please visit the website of KOBİA: https://smb.gov.az/az/nav/qrant