11 a.m.
During its cabinet meeting, the Government discussed and adopted the seventeenth assistance package aimed at mitigating the consequences of COVID-19. While presenting the package, Hakob Arshakyan, the Minister of High Technologies, said that the goal of the package is to support high-tech business entities affected by the spread of coronavirus, as well as promote the implementation of innovative ideas in the field. The beneficiaries of the package are all those high-tech businesses that satisfy the following requirements:
- comply with the criteria of the Law on State Support in the Sphere of Information Technologies;
- as of the day of submitting the application, do not have unpaid taxes in the past 12 months;
- as of the day of submitting the application, has not received grants from the Ministry of High Technologies in the past 12 months.
Assistance will be provided in the form of grants to those businesses who win the competition announced by the Ministry. Three types of grants will be offered. The first one is an innovative grant, with a maximum amount of 10 million AMD, and for those businesses that have been registered in Armenia during the past two years and created products. The second type of grant, with a maximum amount of 20 million AMD, is for already established businesses that have been registered in Armenia for more than two years and provided services. Businesses applying for this grant should be ready to develop new products. The third one is a co-financing grant and is for those high-tech companies that will attract documented and approved investments to Armenia. The government will provide 100% co-financing but not more than 30 million AMD. Applications will be evaluated by considering the innovative component of the presented programs, compliance with the government’s strategic priorities, feasibility, compliance with the financial requirements, as well as the overall professional potential of entities.