Science-Private Sector Cooperation Program Kicks Off In Armenia

YEREVAN, July 9. /ARKA/. A grant program supporting cooperation between
science and the private sector launched today in Armenia, Director of
Enterprise Incubator Foundation (EIF) Bagrat Yengibaryan reported today
at a press conference.

Groups of scientists and businessmen can apply for the tender by July
18. After July 25, they are to submit their applications electronically.

`All the applicants can submit their joint programs and elaborations to
local and foreign investors’ consideration at a venture co9bference
scheduled for October,’ Yengibaryan said.

The authors of the best three projects will be awarded $10,000.
Yengibaryan said last year the best five groups were awarded $5,000 for
their agricultural, pharmaceutical, microbiologic, IT and engineering
products.
The EIF Director stressed the importance of the group activities to
attract venture capital. He said the focus will be on IT-solutions.

Yengibaryan believes the programs will contribute to the development of
IT sector which has considerably progressed for the past five years.

The private sector-science cooperation program is being implemented by
EIF and the U.S. Civil Research Development Fund as part of the Science
Technologies and Entrepreneurship Program. `0′