12:58 | 28.09.16 | News | 14899

Regional round of Armenia StartUp Cup 2016 is summarized

On September 25, UWC Dilijan College hosted the regional round of the Armenia StartUp Cup National Challenge 2016, where over 42 startups from 11 cities of Armenia and 30 experienced mentors from different marzes took part.

The event kicked off with opening remarks from the Interim Head of the UWC Dilijan Denise Davidson, who highlighted the importance of the event for building a developed startup community in Armenia.

20 new mentors were awarded certificates at the beginning of the event.

Along with participants from marzes, the contest was also open to the foreign students of UWC Dilijan College, who came up with interesting business models aimed at the development of the culture of recycling of Armenia.

15 startups from 7 cities of Armenia were selected for the second round of the National Challenge. With the help of international and local mentors, they developed and presented to the selection committee innovative business models aimed at the development of the construction, IT, solid waste management, transportation, and health and tourism sectors.

Armenia StartUp Cup aims to raise awareness about the resources available to set up new enterprises in Armenia, enhance the entrepreneurship potential in Armenia through top-level business consulting and create new jobs through start-ups. The long-term purpose of the event is to foster equitable socio-economic development of the country.

The winner will be awarded AMD 1.500.000 that can include auditing, consulting on accounting, financial issues, marketing and management, and services for business development. The winner will also have a unique opportunity to represent Armenia at the World StartUp Cup 2017, competing with the winners of national challenges from more than 72 countries.  

The second and third place winners will get AMD 1.000.000 and AMD 500.000 worth awards respectively and will also get a chance to present their businesses to venture companies and angel investors at the World StartUp Cup 2017.  

The competition is organized by the IAB International Academy of Business.