Saturday, September 10 2016 15:53

ArmInfo. The number of the participants in IV annual Armenia Startup Cup 2016 contest organized by the International Academy of Business (IAB) has almost doubled and totaled 156, Sergey Gasparyan, the head of the Armenia Startup Cup 2016 project, told ArmInfo's correspondent on September 10. He noted that last year the number of participants was 77. 

"This year the applications for participation in the national stage of the contest have been submitted in the electronic form and we have managed to attract even more participants. It is noteworthy that this year the startups represent not only Yerevan but also 12 towns of Armenia, as well as communities of Artsakh," he said, noting that at the IV national contest the major part of the startups' projects fall on the IT segment.   

IAB Head Araxia Martirosyan noted during the event that the contest aims to create business communities through professional training. Armenia Startup Cup 2016 will help reveal the entrepreneurship potential in Armenia and allow the startups to present themselves on the international arena. "We are very much honored to be the organizer of such a significant event," she said.

At the contest, the startups will present their business ideas aimed at developing cloud technologies, clean energy, e-commerce, education, healthcare, tourism, transport, agriculture, etc. The contest organizers said that upon completion of the two-day seminar the best 25 projects will be announced. These projects will participate in the second stage of the contest. The winner will receive a money prize of up to 1.5 mln AMD, which implies audit, bookkeeping, financial, marketing and management services, as well as an opportunity to represent Armenia at World StartUp Cup 2017, which will feature participants from over 72 countries.  The holders of the second and third places will receive 1 mln AMD and 500 thsd AMD, respectively, as well as an opportunity to attend World StartUp Cup 2017 and to present their business to venture companies and investors.

This year the participants represent Yerevan, Gyumri, Vanadzor, Dilijan, Ijevan, Noyemberyan, Armavir, Ararat, Spitak, Talin, Vardenis, and Stepanakert. The regional round of the contests will be held on September 24 and 25 in Dilijan, and the finals will take place on November 15 in Yerevan. In Armenia, the contest is being held for the fourth time.

To note, the International Academy of Business was founded in 2001. Its mission is to ensure growth and development of human resources in Armenia and in the region. It also offers personnel retraining and a wide spectrum of advisory services.