Thirteen startups showcased their technological innovations to business and community leaders today at M1TQ incubation pitching day.
The winning startups joining the first 12-week M1TQ Incubation program were announced.
The M1TQ Incubation program led by Digitain - implemented together with the Foundation for Armenian Science & Technology (FAST) - targets tech startups from various fields and their innovative solutions. The program aims to increase the scalability of the participant startups, foster their growth and development and prepare them for a potential big investment. The recipients will be announced during the Demo Day that will take place at the end of the 12-week incubation program.
"Today, you are given a unique opportunity to present your ideas and innovative solutions, convince their validity, and receive investments for your idea implementation. Of course, at the center of everything is Mitq, which is a well-chosen keystone word of your event today.
"Any change, progress, dream and victory starts from Mitq”, the Minister of High-Tech Industry Hayk Chobanyan highlighted in his speech.
Out of 35 applicant startups and 26 interviewees, 13 selected startups had the opportunity to pitch their startups to the M1TQ judging committee after which 8 startups were chosen to participate in the program.
“The Incubation program is the first step of DigiTown’s broader mission to support and nurture Armenian startups and create a thriving local tech community of founders”, said Mariam, M1TQ project manager from Digitain.
Among the startups, some already generate revenue on high-growth tech verticals and bring new waves of innovation in industries including Ed Tech, AI, FinTech, Military Tech, MedTech, e-Commerce, IT services and more. Remarkably, M1TQ had international applicants as well as applicants from diverse Armenian regions. Digitain emphasizes the importance of empowering regions of Armenia through the High-tech industry.
The selected 8 startups of the first M1TQ Accelerator program include:
8. AR trails
“We are very excited to choose promising teams that have the full potential to have their say in both local and international markets. The program will equip teams with the skills and capabilities of growing their ideas to marketable business opportunities,” said Anna, M1TQ program coordinator from the Foundation of Armenian Science & Technology.
As part of the M1TQ program, these startups will benefit from opportunities for regional exposure and mentorship through Digitain’s and FAST’s network and professional coaches.
These companies will also be working at Digitain’s workspace, with a convenient and favorable work environment. The program will offer the full spectrum of support needed for startups to flourish in Armenia.
"Through my role at MedSet, I am looking forward to seeing the impact of all of these novice startups on a local and global scale," said Suren, Founder of Medset startup, "that's why I'm honored to share my journey as part of M1TQ Accelerator's first batch launch”.