The Small and Medium Business Development Agency of the Republic of Azerbaijan (SMBDA) finances educational, scientific, research, and support projects related to the development of micro, small, and medium businesses by arranging competitions, following the Law of the Republic of Azerbaijan "On Grants" and this Procedure.
Any legal entity relating to micro, small, and medium business (SMB) or individual engaged in entrepreneurial activity without creating a legal entity has the right to participate in the competition. Each person can submit only 1 (one) project within the framework of each competition. The Agency cannot additionally finance or refinance projects that have been fully funded, implemented, or completed by other entities.
The announcement of the competition and information on its results will be regularly published in the media and posted on the Agency's official website www.smb.gov.az.
The implementation period for projects submitted for the competition should not be less than 3 or more than 12 months. The cost of financing for each project is set at up to AZN 20,000 and will be paid by bank transfer.
The SMBDA will perform a competitive selection of projects in compliance with the principles of transparency, equality, efficiency, and priority of performance criteria.
The project documentation acceptance period: February 17 - March 18, 2021.
The competition period: March 19 - April 19, 2021.
Small and medium businesses wishing to participate in the competition can apply to the Agency electronically (info@smb.gov.az) or directly (Baku city, Ziya Bunyadov avenue, 38C, 1969 block) until March 17, 2021, along with the following documents:
Application form,
Project submitted for the competition,
Financial justification of the project budget,
Copies of documents certifying the identity and powers of an individual or a legal entity – SMB representative,
Copies of an extract from the state register of legal entities, and the Charter, if the applicant is a legal entity.
Information on the competition results will be posted on the official SMBDA website www.smb.gov.az after April 19, 2021.
For more information: Call Center (+994 12) 404 04 01, 131, http://bit.ly/3oZx4HZ
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