Armenian start-ups to take part in climatelaunchpad international competition

YEREVAN, July 11. /ARKA/. Armenian start-up companies will take part in the international competition of business ideas ClimateLaunchpad, held in 30 European countries. Armenia, Moldova and Ukraine have joined the competition this year.

Frunzik Voskanyan, the executive director of the New Technology Education Fund, told ARKA that out of 30 projects submitted to the national round of the competition, 14 have been selected for the next round. Three of them will be named then winners of the national competition, he said.

The 14 selected teams will have a three-day business course, to be followed by a six-week mentoring course during which they will develop their business concepts, improve their technological proposals and bring them in line with market requirements.

Then in September the jury will choose the best three projects that will take part in the international competition on October 7-8 in Tallinn (Estonia).

"The winners of the international competition will receive cash prizes, and the best  10 teams will be included in the acceleration program of the European Foundation Climare-KIC (Netherlands), where they will have  4-6 month courses, after which they will be given the opportunity to finance and commercialize their projects,"  said Voskanyan.

He said one of the Armenian projects enables a 50% improvement of the internal combustion engine efficiency; another technical solution increases the efficiency of solar panels by 30%.

The co-organizer of the national competition and the founder and director of Technology & Science Dynamics Inc Vahan Shakaryan, said the problem of climate change has become a challenge today, and therefore any idea and a solution involving the use of clean technology should be supported and promoted. -0-

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18:49 07/11/2016