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.
