New center at American University of Armenia to support startups

Entrepreneurship and Product Innovation Center was opened today at the American University of Armenia, which will provide appropriate work zone and conditions to people with innovative ideas.

It is equipped with modern generation devices, including 3D printers, 3D laser scanners, and vacuum forming devices.

According to the new center’s Director Armen Mkrtchyan, the doors will be open not only to students of the American University of Armenia, but also to all those who have interesting ideas or projects, but no means to realize them - teams, startups, etc.

“The center occupies 2 floors, where rooms for lectures and team work are located. We also have an attic floor with labs. Young people can found startups here, working in teams, and come out of the American University as established companies,” said Armen Mkrtchyan, pointing Skycriptor as an example of a successful startup “born” in the American University.

The center will provide pre-financing to a limited number of promising startups for development of their ideas. The startups will also receive support in developing their companies and protecting their rights of intellectual property.

Armen Mkrtchyan informed that the center can take 40-45 people at present. He stated confidently that the center will become a part of the startup ecosystem in Armenia.

“Armenia already has many bold accelerators, some of them of narrow specialization. This center is yet the only one to work in a university and realize certain aspects of acceleration,” remarked Armen Mkrtchyan.

The center will receive entrepreneurial and technical consultations from local and foreign experts. There are also plans for events aimed on providing students and the public with information on innovations in various branches of the industry.

You can view the details about the center here.