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Results of the 6th grant competition announced for financing projects by SMB entities have been disclosed 06.12.24

Each of the 20 winning projects in the grant competition will be allocated funding of up to 20,000 AZN.

The results of the 6th grant competition announced for financing education, science, research, and support projects by micro, small, and medium-sized enterprises have been disclosed. A decision has been made to fund 20 projects submitted to the competition organized by the Small and Medium Business Development Agency (KOBİA). Each of the winning projects will be allocated funding of up to 20,000 AZN.

It was highlighted at the meeting of the Expert Commission held on December 6 that a total of 259 projects had been submitted by SMB entities for the competition. Of the projects submitted by SMB entities, 111 are from legal entities, 148 from individuals, including 248 projects from micro enterprises, 10 from small enterprises, and 1 from a large enterprise. Among the submitted projects, 90 are in education, 22 in science, 56 in research, and 91 in support.

It is worth noting that deadline for the application for the 6th grant competition announced for financing education, science, research, and support projects by micro, small, and medium-sized enterprises was open from September 24 to October 23, 2024, and the expert evaluation and assessment of the projects took place from October 25 to November 25, 2024. During the evaluation of the projects carried out by the Expert Commission, the factors such as its impact on the development of micro, small, and medium-sized enterprises, innovation, presence of a well-founded idea, application opportunities for practical purposes, availability of necessary experience and material-technical resources for project implementation, and other similar factors were taken into consideration in accordance with the criteria approved by the decision of the Cabinet of Ministers dated September 30, 2020.

Detailed information about the winning projects can be found on KOBİA's website: https://smb.gov.az/az/nav/qrant