Pan-Armenian competition Innovate Armenia  launched

ArmInfo. The pan-Armenian competition "Innovate Armenia" has launched, being held  for the second time.

According to the organizers of the event, the competition aims to  encourage and support the development of innovative physical products  by talented creators in Armenia and the creation of viable  enterprises in international markets. The competition is initiated  and implemented by TCF Armenia in partnership with the Swiss Helvetas  Foundation. Both individuals and teams from all over Armenia are  welcome to participate. This is an unprecedented opportunity for  participants to align their ideas with international standards, make  them globally competitive, raise funds for pre-production, and  establish useful connections and networks.

To participate in the competition, participants will be required to  submit a rationale for their idea, a comprehensive product  description with drawings and possible sketches, as well as market  research and a development plan. It will be necessary to highlight  what sets the project apart and makes it deserving to be developed  into a real product. Selected participants will undergo incubation  and intensive programs that provide an excellent opportunity to move  from idea to a viable product and present their products to a jury at  the final stage of the competition.

The jury will evaluate the participants' innovative ideas, their  feasibility, market potential, the professional potential of the team  or individual participant, and presentation skills. The participant  or team that wins first place will receive comprehensive support from  idea validation to production, including mentoring opportunities from  industry experts, market fit testing, access to services,  crowdfunding support, and networking opportunities with a broad base  of investors and manufacturers.

The second place winner will receive access to market fit testing  services, participate in a mentoring program, and receive guidance on  preparing the product for potential market launch. The third place  winner will benefit from market fit testing and mentoring.  Participation in the competition is free, and the deadline for  applications is December 26.