The vast majority of businesses in Armenia are SMEs. They are responsible for nearly 80% of all jobs in the country. Despite this, they make up only 27% of Armenia’s GDP. EU4Business works to build a conducive business and investment environment to help SMEs reach their full potential. Programmes improve access to finance and new markets, target women entrepreneurs and SMEs working in green energy and also encourage social entrepreneurship. EU4Business is part of the EU’s wider efforts in the country which make it one of Armenia’s main economic partners.

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Success stories

GetTreated founders Shaghig Aguilian and Raffi Elliott
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 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...
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...