15:38 | 29.07.19 | News | 12064

120 startups to compete in Sevan Startup Summit 2019 with support of Beeline

The 4th annual Sevan Startup Summit has kicked off with support of Beeline, this year involving 120 startups from Armenia and 45 other countries.

The prize fund for 2019 summit makes USD 100,000, and the guaranteed investment fund for 2-3 startups is USD 100, 00 as well.

The organizers expect investment agreements worth over USD 1 million to be signed during the summit.

“It isn’t the first time we support this wonderful project, and we receive only positive feedback. This is a very important event in terms of establishment of Armenia’s startup ecosystem. It creates connections and ties, provides new knowledge, and enables participants to meet with investors,” said Beeline Armenia CEO Andrey Pyatakhin.

Beeline is the strategic partner of the summit. The company has supported the event for three years now.

Sevan Startup Summit is organized by Startup Armenia Foundation and Granatus Ventures in the scope of the Support for SME Development in Armenia (SMEDA) program, which is co-financed by the European Union and BMZ. The program is a part of the EU4Business.