SMB

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Webinar to fund SMB’s scientific and support projects held 12.11.21

On November 12, a webinar was held, dedicated to the competition announced for funding SMB’s scientific and support projects. The online event, arranged by the Small and Medium Business Development Agency (SMBDA), provided entrepreneurs with detailed information on the competition and answered their questions.

At the webinar attended by over 100 small and medium SMBs, SMBDA’s employees Natig Heydarov and Elmaddin Hajiyev presented the competition terms and conditions and the project assessment procedure. It was reported that according to the rules approved by the Cabinet of Ministers on September 30, 2020, legal entities and individuals engaged in micro, small, and medium business can participate in the competition. Scientific and support projects aimed at developing SMBs can be submitted to the competition. Each person can submit only 1 project for the competition. Each project will be funded for a maximum of AZN 20,000. Projects will be assessed based on their impact on the SMB development, innovativeness, the presence of a sound idea, the possibility of application for practical purposes, the availability of appropriate material and technical base to implement the project, and other similar factors.

SMBs wishing to participate in the competition can find the appropriate application and project and budget justification forms and other information on the Agency's website in a section specially created for this purpose (https://bit.ly/3C8XQEm).

Documents for the competition can be submitted directly or electronically. Acceptance of documents will last from November 15 to 06:00 pm December 14. The competition results will be posted on the official SMBDA website (www.smb.gov.az) after February 10, 2022.

The webinar underlined that SMBs who need support in preparing the competition documents can also use free information, consulting, and training services of the SMB development centers (SMBDCs).