SCIENCE AND TECHNOLOGY ENTREPRENEURSHIP GRANT PROGRAM TO BE IMPLEMENTED FROM MAY

Noyan Tapan
Apr 11 2006

YEREVAN, APRIL 11, NOYAN TAPAN. Starting May 1, a one-year
Science and Technology Entrepreneurship Grant Program (STEP)
will be implemented by the Enterprise Incubator Foundation (EIF)
jointly with the US Civilian Research and Development Foundation
(CRDF). EIF Director Bagrat Engibarian stated this during the April
11 press conference. According to him, the grants will be provided to
those groups engaged in applied sciences that will submit the best
proposals for cooperation with US partners. Under the program, the
Armenian scientists will receive advisory assistance on development
of business programs, licensing of intellectual property objects,
and technology examination. Besides, the scientists will be provided
advice on how to enhance the capacities of establishing links with
enterprises in other sectors of the economy. EIF Director noted that in
case of availability of a contract on scientific developments between
a scientific group and an enterprise, the scientific group will be
allocated a grant in the amount of 50 thousand dollars. Scientific
groups or scientists will be allocated grants in the amount of 3-5
thousand dollars for realization of new development ideas. In the words
of B. Engibarian, it is envisaged that the grant component of STEP
will also be financed by some donor organizations in Armenia. He said
that the joint grant program of the EIF and the CRDF will be followed
by a venture conference, after which financing of the scientific
developments programs from a joint venture fund of the EIF and the
Cafesjian Family Foundation will start. The venture fund’s capital
makes 1 mln USD.