First UpStart competition kicks off

YEREVAN,  September 19. /ARKA/. The first UpStart competition, a joint initiative of  the Institute of Innovative Technology  and  the Microsoft Innovation Center in Armenia, has kicked off, the Microsoft Innovation Center in Armenia said today.

According to it, the UpStart is a competition open to startups which offer innovative solutions. The selected start-up companies will be able to optionally undergo a three-day course, designed for them to improve their skills about how to promote their own projects.

Artashes Vardanayn, the head of  the Microsoft Innovation Center in Armenia, said the Center provides comprehensive assistance to start-up companies in the development of their products, as well as in attraction of  investors and  marketing the products.

"UpStart is a good opportunity for start-up companies that are at the development stage and which need investments of up to $250 thousand. There is serious interest in Armenian start-ups and similar events  can bind them with investors,"  Vardanyan said.

Pitching of the projects  will  be held on October 29, during which 15 companies will present their products to  more than 50 representatives of venture funds, investors, foreign businessmen and more than 200 guests of the event.

The teams that will take the first and second places will receive a funding of $2.5 thousand and $1 thousand respectively.

According to the director, co-founder of the Institute of Innovative Technologies Mariam Torosyan,
the main purpose of this event is  to trigger  the attention of   investors and  venture capital funds to wards Armenian  innovations.

To enter the competition one should fill out an application at  www.upstart.am  until October 10th.  -0-

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21:34 09/19/2016