Call for Applications: Syunik Sustainable Economic Development Initiative (Armenia)

The project is co-financed by the European Union (EU) and the Austrian Development Cooperation, within the framework of the “Resilient Syunik Team Europe Initiative” under the “Syunik Recovery, Resilience and Development Project” (R2D Syunik) implemented by the Austrian Development Agency (ADA).

Aims

• This initiative aims to expand economic opportunities in Syunik region by providing a comprehensive capacity building program and material support to startups, start-ups, and existing businesses in the region.

Sectors

• The program is designed to support businesses operating in the following sectors:
  • agricultural product processing;
  • production;
  • tourism and hospitality

Program Stages

• The program consists of the following stages:
  • Phase 1: Capacity building in a hybrid format.
    • Workshops on business idea development and entrepreneurial innovation that will help evaluate, shape, and improve business ideas.
    • Business model development course to develop business plans with the right structure and scalability.
    • Individual consulting sessions with experts to receive advice tailored to each business.
    • Financial literacy course to improve financial planning and skills.
    • Digital skills training to improve business online presence and operations.
    • growth and performance soft skills training to develop leadership, communication, and negotiation skills.
    • Business idea presentation sessions to identify funding opportunities and attract investors.
    • Business sustainability toolkit introduction course and group coaching sessions to support the creation of environmentally friendly businesses and the integration of resource efficient practices.
  • Stage 2: Financial support.
    • Participants with viable business ideas will have access to financial support to start or expand their businesses.
    • The opportunity will also be provided to access additional financial resources through JFF support and cooperation with local financial institutions.
  • Stage 3: Support.
    • Each participant will have the opportunity to receive technical support tailored to the specific needs of their business within the framework of JHF’s ongoing programs.

Eligibility Criteria

• Individuals and businesses located exclusively in the Syunik region
• They are goal-oriented individual entrepreneurs over the age of 18 who have a realistic business idea,
• Are looking for support to expand their startup or early-stage business,
• Have existing SMEs and want to expand, improve operations or integrate sustainability practices.

For more information, visit JMF.