15 talented Armenian Startups receive support to realise their innovative projects
On May 5th the winners of the application process for Innovation Matching Grants (IMG) and Science and Technology Entrepreneurship program (STEP) grant schemes were announced - as a result of 2-day pitching events where the 38 shortlisted startup teams and companies participated and pitched their innovative ideas and projects.
The “Innovation Matching Grant” (IMG) and “Science and Technology Entrepreneurship Programme” (STEP) competitions were announced by the “Support to SME Development in Armenia” (SMEDA) project, co-funded by the EU and implemented by GIZ. SMEDA is part of the EU4Business and EU4Innovation initiatives of the European Union. The grant schemes are implemented in cooperation with the Enterprise Incubator Foundation (EIF). Both, IMG and STEP aim at promoting entrepreneurship and advancing innovative technology-based ideas in Armenia and to help startup teams, innovators, scientists, engineers, researchers, and entrepreneurs to move their products to the market, create new ventures, and promote innovation and entrepreneurship in Armenia.
Ten winners were announced for the IMG competition. These winners will be now further accompanied by international experts in preparing their project to receive funding from 30,000 – 50,000 EUR to transform their ground-breaking ideas into real products.
For the STEP competition five winners were announced, who will equally be accompanied to prepare their projects in order to receive funding of up to EUR 15,000 to engage actively into the realisation of their scientific and technology oriented project.
Before the final stage of competitions coaching and mentorship was provided to the applicant teams and companies by international and local experts active in entrepreneurship development and investments. This support will be ongoing for the winners in the form of mentorship, networking with potential investors, assisting with commercialisation strategies and analyses of innovative products, etc.
The winning stratups of IMG competition are:
- Volterman Smart Wallet
- FPGA Key Value Database for IoT
The winning startups of STEP competition are:
- Financial Tech
- CNC Machine line
- One – Click key
- Custom I/O modules for NI my RIO and ElvisRIO platforms
- CDM for Education, Based on New Generation Optical Element
Winners of the 2nd cycle of Innovation Matching Grants to be selected soon
The final stage of EU-supported Innovation Matching Grants competition (IMG) will be held on June 29, 2018 from 10:00 to 19:00, at Vanadzor Technology Center (VTC). The 16 shortlisted startups who have undergone the process of pre-selection, excessive trainings and mentorship will participate at the final competition aimed at supporting business development and innovation and will present their innovative ideas to the jury.
FlyFest 2018 - an amazing aircraft show is coming up!
An amazing aircraft show full of speed, colors and breathtaking flight tricks - the FlyFest 2018- is coming up on July st in Gyumri, Armenia, supported by EU through its Support to SME Development in Armenia (EU-SMEDA) projcet. The festival is aiming to promote the expansion and development of model aircraft sports and tourism in the regions of Armenia through modern engineering solutions.
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The first-ever Fashion Forum was held in Yerevan, Armenia from June 2-4, 2018 bringing in fresh re-start and aspiration to the fashion world of Armenia. It united Armenian designers under one roof to exhibit their most sleek, elegant and glamourous sets to the fashion gurus, trend-setters, guests and general public. Truly, dozens of dazzling dresses, layered pieces and stylish outfits were showcased in Aram Khachaturian house-museum created by 50 talented Armenian designers from Armenia and diaspora coming from Germany, France, Lebanon, Syria, Ukraine, US and Russia.
New startup bids to become the most favorite one for the people who feel uneasy at the kitchen and for the gourmets who prefer a variety of tasty meals every day. This application is called Cookmenu, a new venture offering various recipes with the ingredients you have at home.
''This is substantial assistance, especially for the women who are unable to cook anything in the kitchen. This application is for those who are getting married and can’t cook except, for example, fried potatoes. So, we suggest all of them use our application,'' said Narine Manukyan, the founder of Cookmenu.