Success stories

With EU support, an innovative business centre in Armenia helps SMEs to grow
Armenia
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24/09/2020
The economic development of any country can be correlated to the equal development of its regions. Armenia is no exception. Once a gym and now a modern business centre, the Sevan Innovative Business Centre has already become a hub for new business ideas and initiatives in Sevan, a popular Armenian resort town located in the eastern province of Gegharkunik. Helping the SMEs, especially young...
Improved SME statistics for evidence-based SME support in the Eastern Partnership
11/08/2020
With support delivered by the OECD under the EU4Business initiative , Armenia and Ukraine have improved their statistical systems and started to produce internationally comparable indicators on the structure and performance of the SME sector. This will allow Armenian and Ukrainian governmentsto implement appropriate policy measures to support SME development and monitor their impact on the SME...
Art Lunch caters food to 1,500 COVID patients and housebound Armenians
Armenia
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28/05/2020
Art Lunch , an Armenian enterprise providing food, catering and hospitality services, has been able to move to e-marketing model that increased turnover by 78% and improved sales by 31% with EU4Business support through the EBRD’s Advice for Small Businesses programme. In turn, the company has been supporting Armenia by providing food to 1,500 COVID patients and individuals who have become...
3D printing company produces protective equipment in Armenia
Armenia
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13/05/2020
EBRD and EU4Business help AugmentAR look to the future Just a few years ago, 3D printing belonged more to industrial settings than to people’s homes. The rapid evolution of the field and the growth of the market mean that 3D printers are now available at affordable prices to consumers, so everyone can create their own kitchen utensils, toys and DIY tools. In Armenia , the AugmentAR team, which is...
Winery finds new markets and tourist hub with EU4Business support
Armenia
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19/03/2020
The earliest known winery in the world, unearthed in a cave in Armenia, dates from about 6,100 years ago. One of the oldest modern-day enterprises in Armenia, Voskevaz Winery LLC, has been taking the best traditions of vintners beyond Armenia to new markets. Based on a strategic development plan put together with the support of EU4Business, two key goals are increasing sales 21% and expanding...
Triple online sales, new markets and business standards for food firm thanks to EU4Business
Armenia
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04/03/2020
Offering a wide choice of traditional cuisine, a good combination of price and quality, with one of the largest delivery services in Armenia,the Karas Group’s business is based onan internationally-recognized system for reducing the risk of safety hazards in food. With EU4Business support, the company was able to increase turnover by 31% and grow sales by 20%in a single year. Serving 250,000...
EBRD and EU4Business help organic herbal teas spread nature’s healing power
Armenia
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31/01/2020
A distinctive natural environment like Armenian soil, plenty of sun and lots of fresh water combine to ensure the unique taste and healing qualities of whole leaf herbal teas that EDNA LLC gathers, processes, mixes and packages according to the highest Organic European standards. Moreover, this income opportunity for 40 villagers from four communities offers proof of the result-oriented nature of...
eSwap: artificial intelligence to manage online sales
eSwap: artificial intelligence to manage online sales
Armenia
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12/07/2019
The start-up ecosystem in landlocked Armenia generates high value companies in a country with highly intelligent human capital. The eSwap start-up with its enthusiastic team of Gyumrians, inhabitants of the second largest city of Armenia, provides a multi-channel ecommerce management tool with a cutting edge innovation – integrated artificial intelligence, thanks to the assistance of the European...
EU helps Shirak region become IT centre of Armenia
EU helps Shirak region become IT centre of Armenia
Armenia
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13/06/2019
Information technologies (IT) are growing rapidly in Armenia. The country’s government announced IT as one of their priorities and recently decided to establish a Ministry of High Technologies. The Armenian government has also adopted laws according to which newly created IT startups will be granted tax privileges until 2020. In Armenia, almost everything is by and large centralised in the...
EU promotes social entrepreneurship in Armenian provinces
EU promotes social entrepreneurship in Armenian provinces: a story from Shirak
Armenia
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30/05/2019
Social entrepreneurship is a relatively new phenomenon in Armenia. As recently as five or six years ago, few people knew about it. Despite the fact that there is still no legislation in place regulating it, social entrepreneurship is growing in Armenia. The non-governmental sector is the driving force in this process. Representatives of the sector are now drafting the relevant laws, which are to...