OIL:  BRENT - 59.02+0.24% WTI - 52.93+0.00%
COMEX:  GOLD - 1492.10+0.34% SILVER - 17.37-0.52%
COMEX:  PLATINUM - 889.70 +0.01%
LME:  ALUMINIUM - 1715.00-0.06% COPPER - 5709.00-1.23%
LME:  NICKEL - 16940.00+0.00% TIN - 16680.00+0.91%
LME:  LEAD - 2164.00+0.74% ZINC - 2413.50-0.33%
FOREX:  USD/JPY - 108.74+0.07% EUR/GBP - 0.8638-0.10%
FOREX:  EUR/USD - 1.1074+0.40% GBP/USD - 1.2818+0.50%
STOCKS RUS:  MICEX - % RTSI - 1347.43 +1.23%
STOCKS US: DOW JONES - 27001.98-0.08% NASDAQ - 8124.18-0.30%
STOCKS US: S&P 500 - 2989.69 -0.20%
STOCKS JAPAN:  NIKKEI - 22451.86 -0.09% TOPIX - 1624.16 -0.45%
STOCKS CHINA:  HANG SENG - 26848.49 +0.69% SSEC - 2977.33 -0.05%
STOCKS EUR:  FTSE100 - 7167.95-0.61% CAC40 - 5696.90-0.09%
STOCKS EUR:  DAX - 12670.11+0.32%
17/10/2019  CBA:  USD - 476.43 AMD -0.14 GBP - 615.98 AMD +13.45
17/10/2019  CBA:  EURO - 529.69 AMD +4.80
17/10/2019  CBA:  GOLD - 22748.14 AMD -90.95 SILVER - 264.3 AMD -5.45
17/10/2019  CBA:  PLATINUM - 13602.01 AMD -157.22
17/05/2016  NASDAQ OMX ARMENIA:   USD/AVG - 477.75 AMD -2.70
October, 2019
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
IT is promising in Armenia, the entrepreneurial culture needs a boost. Eva Maria Näher
06/07/2018 10:18

IT is promising in Armenia, the entrepreneurial culture needs a boost. Eva Maria Näher

On June 29, the finale of the Innovative Matching Grant Competition (IMG) was held in Vanadzor Technological Center. 14 teams came to the final round.

The funding of this project is coming from the EU under the EU4Business initiative.

In the interview on «Business 24» the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), support to SME Development in Armenia (EU-SMEDA) team leader Eva Maria Näher told about the specifics of the program.

-When and why it was decided to start this program?

- The project has started in the beginning of 2016 and will run till 2019 as support to private sector development. The idea is to strengthen the private sector in Armenia in general. And we have different components that we are working on. But the basic idea is really to improve the private sector in Armenia, because there is room for improvement. Because it is an important pillar for society and economy. That’s why it was decided to have this sector as one of the priority area for EU in Armenia.

- Why is it so important for the EU to improve the private sector in Armenia?

- The Private sector in general is still rather weak in Armenia. For example, we took some groups for different activities to Europe and learnt from European business partners that, yes, the technology is very well developed, very good, is promising in Armenia. But the entrepreneurial culture and skills are rather weak. There are still a lot to do; the weak points are in particular marketing, prizing strategy, finding the right business model, international networks and so on. We found good education in technology and engineering, where good ideas and products are coming from. Hence, we saw also that money is not the only bottleneck for business -e.g. through the grants we are providing. In particular business advice and mentorship are crucial to guide the companies. Yes, it is important to have a good product and idea, but it is also crucial knowing how to sell it to the customer. This point is must be considered and further developed.

- If we talk about last year's results, there were winning teams who, thanks to this program, have improved their product from business point of view?

- Yes, many teams are already showing interesting results. In particular on team was recently granted by the EU Research and Innovation programme «Horizon 2020». It is an engineering company «Grovf» which was last year participant and one of the winners from the 1-st cycle. This recognition shows, that they are competitive at an international scale and that they have a great business case.

-And how EU monitors the results of winners?

-Every three month the grantees have to present financial and technical reports about their progress, how they have achieved their goals and if they spent money correctly.

Beeline Armenia - Telecommunication services for your business.
News Feed
AMD Rates
08:45 17/10 Buy Sell
AMD / USD 476.00 477.50
AMD / EUR 525.00 530.00
AMD / RUR 7.40 7.42
dollars
dollars
CBA Rates
17/10/2019
USD / AMD
476.43
-0.14
EUR / AMD
529.69
+4.80
RUR / AMD
7.45
+0.05
GBP / AMD
615.98
+13.45
Cryptocurrencies
17:30 17/10
BTC/AMD
3,821,299
-4.05%
BTC/USD
8018.33801229
-4.08%
ETH/USD
175.520010959
-5.45%
BCH/USD
216.714602352
-4.09%
XRP/USD
0.2840423253
-3.18%
LTC/USD
52.8510590338
-6.72%
Capitalization
BTC
144,302,918,092
-4.06%
ETH
18,987,689,865
-5.43%
BCH
3,914,217,880
-4.07%
XRP
12,261,194,642
-3.18%
LTC
3,355,172,407
-6.70%
CBA Metals
17/10/2019
dram / gram
Gold
22748.14
-90.95
Silver
264.3
-5.45
Platinum
13602.01
-157.22
FOREX
08:45 17/10
EUR/USD
1.1074
+0.40%
GBP/USD
1.2818
+0.50%
USD/JPY
108.74
+0.07%
EUR/GBP
0.8638
-0.10%
Oil
08:45 17/10
$ / barrel
Brent
59.02
+0.24%
Light Sweet
52.93
+0.00%
COMEX
08:45 17/10
$ / tr. oz
Gold
1492.10
+0.34%
Silver
17.37
-0.52%
Platinum
889.70
+0.01%
LME / 3M
08:45 17/10
$ / tonne
Aluminium
1715.00
-0.06%
Copper
5709.00
-1.23%
Nickel
16940.00
+0.00%
Tin
16680.00
+0.91%
Lead
2164.00
+0.74%
Zinc
2413.50
-0.33%
Molybdenum
24030.00
-1.63%
Cobalt
36500.00
+0.00%
Indexes
08:45 17/10
point
Dow Jones
27001.98
-0.08%
S&P 500
2989.69
-0.20%
NASDAQ
8124.18
-0.30%
FTSE
7167.95
-0.61%
CAC 40
5696.90
-0.09%
DAX
12670.11
+0.32%
RTSI
1347.43
+1.23%
Nikkei
22451.86
-0.09%
Topix
1624.16
-0.45%
Hang Seng
26848.49
+0.69%
SSEC
2977.33
-0.05%
CBA Interest Rates
17/10/2019
Refinancing
Refinancing Rate
5.50
+0.00
Lombard Repo
Lombard Repo Rate
7.00
+0.00
Deposit
Deposit Rate
4.00
+0.00
Macroeconomy
07/2019
CEA
Coefficient of Economic Activity
+6.80%
Ind. Prod. 3
Volume of Industrial Production
1,079
+8.40%
Export 1
Экспорт
1,417.5
+3.0%
Import 1
Импорт
2,778.0
+1.90%
CPI
Consumer price index
+1.90%
Avg. Salary 2
Average salary
178,325
+5.90%
Services 3
Volume of services
1,086.4
+15.2%
Construction 3
Volume of construction
166.7
+4.50%
1 - mln AMD, 2 - AMD, 3 - bln AMD