Success stories

EU support opens new horizons for Armenian fashion
Armenia
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06/04/2018
Armenia is well known for its unique cultural and creative heritage. In music, film, poetry and painting, Armenia has nurtured artists known the world over, and seen its creative potential flourish. Now, Armenian fashion designers have a chance to highlight their creative flair, thanks to the ‘ Support to SME Development in Armenia ’ (SMEDA) project, co-funded by the European Union in the...
EBRD helps Armenian IT company unlock export growth, thanks to EU4Business
Armenia
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04/01/2018
With funding from the European Union under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped an Armenian IT company to introduce Information Security Management Systems in accordance with international standards, leading to a soaring growth in exports. Under its Advice for Small Businesses (ASB) programme, the EBRD supported VOLO LLC, an IT...
Armenia: branding facelift sparks soaring business for Da Vinci clinic
Armenia
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21/12/2017
With funding from the European Union under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped the Da Vinci clinic, a high-profile plastic surgery and aesthetic medical centre from Armenia, to re-brand and introduce a professional website, increasing turnover by 41%. Established in 2010, Da Vinci started as a clinic specialised in diagnostics of hair...
TEA HOUSE
From innovation to social entrepreneurs: how EU4Business helps SME development in Armenia and how the country’s entrepreneurs respond
Armenia
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26/10/2017
Many small and medium-sized enterprises (SME) in Armenia feel that their main problems start at their own borders, with the taxes and customs regulations applied by the Armenian authorities. However, few of them raise these issues, as most entrepreneurs are concerned about confidentiality and the consequences of their actions – factors that create obstacles to business development. This is where...
GetTreated founders Shaghig Aguilian and Raffi Elliott
GetTreated: an Armenian startup tapping into a global market, with support from EU4Business
Armenia
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04/10/2017
It all started with an operation: Raffi – a Canadian-born web developer who repatriated to Armenia in 2011 – checked in to hospital in Yerevan for treatment on a long-overdue health issue that doctors back in Canada had failed to handle. Not only was he delighted with the result, he was stunned by the price-quality ratio. “It was then that I decided to create an app to help other people around...
The Grovf team have developed a prototype that slashes data processing times
In a world of big data, an Armenian start-up is poised to take off, with the help of EU4Business
Armenia
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02/10/2017
In a world of big data and artificial intelligence, processing power is the motor of a new industrial revolution. With ever more data being generated, the capacity of processors to store and analyse data is failing to keep up. This is where Grovf comes in, an Armenian start-up hoping to join the data revolution with the help of EU4Business . Grovf works on hardware acceleration of core database...
EU4Business helps Armenian telecoms company rebrand
Armenia
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22/08/2017
With funding from the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped Bargavachogh Tsantser Ltd., a regional telecoms company in Armenia, to develop a strong corporate identity and improve its management effectiveness. The EBRD supported Bargavachogh Tsantser Ltd., a regional telecom service provider, in improving its performance...
Female construction company
Woman-led construction firm in Armenia doubles turnover with help from the EBRD
Armenia
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22/08/2017
An Armenian woman who set up a construction firm in Armenia six years ago has seen the firm’s turnover more than double thanks to help from the European Bank for Reconstruction and Development. With funding from EU4Business and Sweden, the EBRD’s Women in Business programme helped Smart Construction Ltd. to computerise the operational and financial practices so the company could manage its...
EU4Business helps woman-led pharmacies in Armenia implement HR policy to increase employee performance and sales
Armenia
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17/08/2017
With funding from Sweden and the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped Farma-Star Ltd., a woman-led network of pharmacies in Armenia, introduce a new human resources policy to increase employee performance and sales. The EBRD supported Farma-Star Ltd., a network of pharmacies in Yerevan and surrounding regions, to...
Dr Vardanush Petrossian in the Ingrediant café.
Armenian woman entrepreneur has the right ingredients for success
Armenia
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25/11/2016
Dr Vardanush Petrossian, a medical doctor with a specialisation in nutrition, has always dreamed of running her own healthy food-focused café. Using her own savings, she opened the Ingredient Café. Now, with the support of the Women in Business Programme, funded by EU4Business, the European Bank for Reconstruction and Development (EBRD) and Sweden, Vardanush’s café is expanding. The Ingredient...