15:19 | 28.03.19 | News | 8639

Third cycle of Beeline Startup Incubator kicks off

The third incubation cycle of Beeline Startup Incubator kicked off today in Yerevan. It involves five startups.

The cycle in the new format is implemented in cooperation with Business Angel Network of Armenia (BANA), owing to which the teams with the best results will be able to raise investments at the end of the cycle.

“Our incubator shows significant results having operated for around a year now. Our startups have registered great results, and we have worked well too. I am happy to announce that together with our new partner BANA we have moved our operation forward by making the opportunity of raising investments and being in contact with investors more realistic for the startups,” Beeline Armenia CEO Andrey Pyatakhin said.

“The cooperation between angel investors and startups is a popular and successful method in developed countries. The new format of Beeline Startup Incubator with BANA may become a key program for startups and investors. We assist startups to raise investments at the end of each cycle. We wish to make the best international practice applicable for our startups in Armenia,” CEO of Business Angel Network of Armenia (BANA) Grigor Hovhannisyan said.

Business Angel Network of Armenia is a network of entrepreneurs-investors, which provide startups not only with financial support, but also with help in the development of business strategy and attraction of potential investors. Founded in the spring of 2017, BANA has already invested in five startups.

With all its resources Beeline Startup Incubator supports the intensive growth of the Armenian startups, assisting their entrance to the international market. Over the 14-week incubation cycle the residents participate in trainings in marketing, PR, market assessment, goals-based evaluation, as well as formation and development of teams. The teams also study legal field, financial planning and attraction of finances.