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

The Embry team at the Vanadzor Technology Centre
An Armenian start-up has developed a unique weight-tracking insole, using smart technology to monitor weight and physical activity. Now, with the help of EU4Business, the company is targeting EU markets for export. According to co-founder Nare Gevorgyan, Embry is unique because it is the first smart insole in the world that automates weight tracking: “ Unlike existing activity trackers and smart...
WiseLogger offers user friendly data logging solutions
DataLogger is a Yerevan-based company, specialised in smart machines and data acquisition control systems. WiseLogger, created by DataLogger, is a flexible, configurable, and user-friendly turn-key solution which data loggers can use in a wide variety of applications, such as industrial manufacturing and automation, remote monitoring, automotive industry, data collection, pharmaceutical...
Himnark co-founder Ruben Osipyan
Himnark is an online platform that automates the management of personnel contracts and the calculation of salaries. The platform has been developed by an Armenian startup, which employs just 15 people, but is aiming high, helped by an EU innovation grant funded under the EU4Business initiative. The company was founded by Ruben Osipyan and Smbat Petrosyan, who studied together in the faculty of...