Announcement of Seed Stage Grants (SSG)

The European Union’s EU4Business “Innovative Tourism and Technology Development for Armenia” project implemented by GIZ announces that up to 4 startups engaged in Armenia Startup Academy Traction Programme, will be eligible for receiving of a grant of up to EUR 50,000, upon completion of the programme. Only the participant companies registered in Armenia will be eligible for receiving the grant.

The aim of the Grant scheme is to promote technology startups in their product and business development, to accelerate the development of product and businesses and trigger additional investment. The Seed Stage grant scheme requires a matching mechanism from the private sector (50% co-financing of 100,000 EUR grant projects). This will ensure the risk sharing mechanism and encourage the crowding-in of investors, business angels and seed VCs. The grant scheme targets the development of industrial prototypes, start production/manufacturing, market validation, product launch and go-to-market.

Competition is open to successful graduates from Armenia Startup Academy Traction Programme. Attaching a grant to the startup programme aims to increase the overall competitiveness of the programme and contributes to the faster development of the Armenian startup ecosystem. Furthermore, the grants will allow the founders to utilise the momentum created during the programme, intensify the results of the programme, and use the grant funding as an anchor to raise additional investments.

GRANT AMOUNT & CO-FINANCING REQUIREMENTS

The maximum amount of the SSG grant is 50.000 EUR. The grant scheme is open to graduates from Armenia Startup Academy Traction Programme and provides funding for maximum 50% of co-financing of project expenditures estimated by the applicant.

ELIGIBILITY CRITERIA

1. The startup got accepted and successfully completed Armenia Startup Academy Traction programme,

2. The company is a legal entity registered in the Republic of Armenia, has been operating for less than 3 years, is not generating profits and most shares are held by the founders of the company

3. All applicants must submit self-statement letter on providing of the necessary co-financing of the grant funds in cash, if awarded the grant to be eligible for proposal evaluation.

4. Projects with a focus on developing products or services for military use are not eligible. This also incorporates dual use technologies if the targeted customers are military or security forces

ELIGIBLE COSTS

Eligible Expenditures under the grant programme include Hardware, Software, Project related Staff salaries, Certifications, Marketing, Other valid expenses identified in the budget as directly related to the execution of the Project and agreed by GIZ, all of which cannot exceed more than 10% of the total Project budget. Administrative costs should not exceed 7% of the project budget.

EVALUATION PROCESS

The evaluation within the SSG program is done in 2 stages. Only applications that meet all the requirements of the Eligibility criteria (1 stage) shall proceed for assessment under the Selection Criteria (2nd stage). The 4 highest scored Applications of the Selection Criteria shall be awarded the Grant. Scoring will be based on the following main criteria:

• Capability of the Team

• Product/service and Commercial Potential

• Understanding of Market and Customer Need

• Risks and opportunities

• Feasibility of the Implementation Plan

• Financials Projections

The 2nd stage of evaluation will take place on the day of the Demo Day in a pitching session of Armenian Startup Academy Traction Programme.

APPLICATION PACKAGE

• Completely filled-in Application Form

• Annex I – Project Budget

• Annex II – Declaration on providing the co-financing funds to meet matching contribution of Grantee and statement letter on business operations being based in Armenia

• Annex III – CVs of the project team members demonstrating competency and any experience relevant to execution on the proposed project

• Annex IV – Copy of Company’s registration certificate

The application package can be accessed here. All interested candidates need to send a complete application package to GIZ via e-mail [email protected] before September 24, 2020

All the applications received after the deadline will NOT be considered. For all interested candidates, an online orientation seminar will be organised to provide more information on the application process and to answer all the questions.