Cloudchipr (YC W23) is featured on Y Combinator's website. We are more than happy to see another Armenian team accepted to YC.

https://t.me/threenstartups

#cloudchipr #yc #ycombinator #successstory

Applications are now open for Ventures Thrive deep tech venture builder.

Scale your business and address the world’s most pressing climate tech problems with mentoring, corporate connections, fundraising, and more.

This is a 8-months program. Each accepted startup is eligible for up to €100,000 in cash and services - equity-free.

Learn more and apply here: https://www.venturesthrive.eu/

P.S. Thanks to Mané of Hero House for sharing this opportunity with community!

https://t.me/threenstartups

#venturesthrive #venturebuilder #venturebuildingprogram #deeptech #prizes

https://www.venturesthrive.eu/

Application deadline is extended to March 3, 2023. This is the last chance to join investment program with 500Global's 500 Georgia Accelerator program.

Grantus Ventures announced investment in Endometrics, a medtech company specializing in developing a revolutionary non-invasive diagnostic solution for endometriosis.

Endometrics, is led by award-winning ObGyn and researcher Yana Aznavour. The startup is a Berkeley-based company with a team in Armenia. Endometrics recently graduated from the UC Berkeley accelerator and received the first-prize award in the emerging startup category at the Women’s Health Innovation Summit Startup Showcase.

Congratulations to the startup and investor on this achievement!

https://t.me/threenstartups

#endometrics #granatusventures #investment #deeptech #medtech #successstory

Armenian startups are welcome to apply to the 6-week acceleration program by Sber500.

Apply here: https://sberunity.ru/registration

💥 The official registration is over, but Sber500 made an extension for the subscribers of 3N (they do want to see more Armenian startups applying to the acceleration program).

📌 The application to Sber500 is done through SberUnity platform.

Program participants will receive mentorship and support from the international exports who have work experience and network worldwide.

Program graduates will get access to 50+ venture funds and corporations.

Graduates of past programs of Sber500 received more than 33M USD of funding and make more than 2K commercial deals with the corporations-partners of the program. Their annual revenue had a 10x growth rate.

https://t.me/threenstartups

#sber500 #acceleration #application #applynow

It was an exceptional week for the Armenian tech ecosystem full of success story announcements.

Here is one of the biggest news in Armenian semiconductor design industry ⤵️

Microchip Technology Incorporated a leading provider of smart, connected and secure embedded control solutions is acquiring Instigate Semiconductor that was incubated by Instigate.

Instigate is a conglomerate of companies offering a wide range of software development services from mobile & web development, to design of complex engineering systems for industrial automation to embedded systems design.

Instigate Semiconductor, was incubated by Instigate 2 years ago with an aim to transfer the company to Microchip after setting up a company and building an operational R&D center in Armenia.

Congratulations to our friends from Instigate on this great achievement!

https://t.me/threenstartups

#instigate #instigatesemiconductor #michrochip #exit #successstory

Hexact is listed on StartEngine for a public offering campaign.

💥 The startup made $1M in annual revenue in 2022 and has 100K active users across 167 countries.

https://t.me/threenstartups

#hexact #publicoffering #successstory

Orion Worldwide Innovations launches the official website of the Orion Summit 2023 conference with information about the event’s agenda, partners, and speakers.

The summit will take place in New York City from June 19-22, with the slogan “Investments Position Armenia”.

Register and find more details here: https://orion2023.orionwi.com/

Orion Summit has become a powerful opportunity for Armenian and non-Armenian startups globally to build content, customer and capital.

The key objective of Orion Summit 2023 is to create reliable alternative investment opportunities for startup ecosystem through establishing Private Equity Firms, Corporate VCs, and Family Offices in Armenia and with international partners.

https://t.me/threenstartups

#orionwi #orionworldwideinnovations #orionsummit2023 #event #conference

Applications are now open for the EIT Urban Mobility Accelerator programs.

Application deadline: April 21, 2023
Apply: https://tinyurl.com/39ehvzv4

The EIT Urban Mobility Accelerators consist of seven thematic EU-funded programs implemented through partners to take early-stage mobility start-ups to the next level.

The seven themes are:
- City Logistics
- E+ Mobility
- Energy & Public Realm
- Future Mobility
- Inclusive Mobility
- Smart Mobility
- Urban Air Mobility

Selected start-ups will receive:
- € 30,000 worth of support services
- 6-month accelerator program
- €2,500 grant and tickets to Tomorrow.Mobility 2023
- Impact assessment and access to EIT Urban Mobility funding opportunities

Find more details: https://www.eiturbanmobility.eu/impact-ventures/accelerator/

https://t.me/threenstartups

#eiturbanmobility #acceleration #support #accesstoinvestors #scaling

The Prime Minister of Armenia Nikol Pashinyan received Bruce Weyer, the vice president of Microchip Technology Incorporated, Arman Poghosyan, the CEO of Instigate and Ani Safaryan, the VP of Engineering of Instigate Semiconductors

The prime minister welcomed cooperation between Microchip and Instigate.

Bruce Weyer announced that Microchip Technology is interested in implementing programs in the Armenian technology sector and contribute to the development of the technological ecosystem of Armenia.

https://t.me/threenstartups

#instigate #instigatesemiconductor #michrochip #exit #successstory

Let's celebrate March 8 by supporting women-led startups.

Like, recommend, use, or share information about women-led Armenian startups you know and like.

We hope this will turn into a campaign to raise awareness about women-led Armenian startups and eventually motivate more Armenian women to take the lead and begin their startup journey!

Here are some of the women-led Armenian startups and initiatives. Please add more names under the comment if we missed any women-led startup or initiative.

4u.am
AIP Scientific
Armbionics
Armenian Bioinformatics Institute
COSMO Kids
Digital Pomegranate
DoctorYan
FiveBrane
GirlsInTech - Armenia
GOTCHA
Hirebee
ՀոգաՏԱՐ/Hogatar
INTED
LiveBoard
LuckyCarrot
MagnusHR
manot
MedPoint Technologies
QaylTech
SoloLearn
Staff.am
TUMO

https://t.me/threenstartups

#march8 #womenledstartups

Conjure (ex-Robomart) co-founded by Tigran Shahverdyan, announced about a partnership with a giant food company Mars.

Congratulations to our friends from Conjure on this step forward!

https://t.me/threenstartups

#conjure #tigranshahverdyan #successstory

Formula VC calls applications for VC Journalism Bootcamp.

Application Deadline: March 19, 2023
Apply: https://tinyurl.com/yyryrwux

VC Journalism Bootcamp is an educational initiative organized by Formula VC in partnership with EVN Report.

During 5 days the participants will walk through the stepping stones of Armenian VC ecosystem, as well as gain industry knowledge and insights.

Participants will choose and initially pitch a topic they are planning to research. The research results will be summed up in 3 months, and the author of the best research will receive a prize of 200,000 AMD Formula VC.

https://t.me/threenstartups

#formulavc #vcjournalismbootcamp #training #event

Tripe S Ventures announced investment in Denovo Sciences - a deep tech startup that creates novel therapeutics using state-of-the-art AI technologies.

Denovo Sciences was created in the scope FAST's ASCENT venture builder program. Since then, the startup became the National Winner and was among the top 5 finalists of the Entrepreneurship World Cup 2021. Denovo Sciences is a graduate of Berkeley’s SkyDeck Accelerator Program. The founders of the startup are scientists with a sound research experience at Institute of Molecular Biology and in industry.

Congratulations to both teams on this step forward. We are looking forward to the following success stories from them!

https://t.me/threenstartups

#triplesventures #triples #denovosciences #deeptech #ascent #fast #investment #successstory

Prelauch announced closing a $1.5M seed round. BigStory VC led the round. Investors include Formula VC, Granatus Ventures, Business Angel Network of Armenia (BANA) and Vahe Kuzoyan, the co-founder of ServiceTitan.

Congratulations to the startup and investors on this significant achievement! We will look forward to hearing more success stories from Prelaunch team!

https://t.me/threenstartups

#prelaunch #narekvardanyan #investment #seedround #bigstoryvc #granatusventures #formulavc #bana #vahekuzoyan #successstory

Luiza Avetisyan, the co-founder of Staff.am and Hirebee.ai started a new initiative aiming to foster women-led startups in Armenia.

Fempower is platform for the first-time women-founders of tech startups who want to get mentorship support to start their startup journey.

Here is the link to apply for mentorship support: https://f-empower.org/for-mentees

There is also a possibility to join the initiative as a mentor. Here is the link to join as a mentor: https://f-empower.org/for-mentors

Glad to see more initiatives that will help to unlock the full potential of Armenian women in tech.

https://t.me/threenstartups

#fempower #mentorship #mentee #mentor #womenledstartups

Silicon Valley Bank (SVB) meltdown caused the largest bank failure in the US since the 2008 financial crisis and the second-largest in U.S. history. Reuters reported that 89% of its US$175 billion in deposit liabilities were not covered by federal deposit insurance.

The collapse of Silicon Valley Bank has caused a ripple effect across the tech sector. Cash reserves of many startups were were held by SVB. There are many Armenian startups who also impacted by this situation.

https://t.me/threenstartups

#svb #meltdown

In the scope of Digitec2022 Enterprise Armenia organized the "Investor's Day for the IT sector" event which hosted top officials from the Government, Parliament, and the IT industry.

Some insights captured from the speakers:

Tigran Khachatryan, deputy prime minister:
- ICT sector had exceptional growth in 2022.
- Continuous human capital development is critical to keep the pace of growth.
- Armenian government has a long-term strategy to support this and welcomes joint programs between universities and private companies.

Hakob Arshakyan, Vice President of the National Assembly:
- ICT sector achieved a turnover of more than $1 billion in 2022
- In 2022 Armenia launched its first satellite.
- Picsart became a unicorn.
- Microchip will open R&D centers in Armenia.
- Science budget is more than 30B AMD, a 50%+ increase compared to the previous year.
- The IT sector needs about 9000 new engineers to keep the same levels of development.

Kristina Kvien, US ambassador in Armenia:
- The number of companies with foreign ownership is constantly growing in Armenia. US-based Boston Gene, Grid Dynamics, and many others established their presence in 2022.
- US Government supports the efforts of the Armenian Government to reform the economy, strengthen Public-private dialog, and overcome geopolitical challenges.

Robert Khachatryan, the minister of High Tech Industry:
- Government aims to increase the competitiveness of Armenian IT companies globally. This is the primary goal of IT support law.
- Last year the ministry organized vocational training for more than 9000 specialists to help them enter the ICT labor market.
- The engineering city project progresses aiming to unite engineering companies in the same place to stimulate an innovation ecosystem.

Alexandr Yesayan, president of UATE, Co-Founder of TEAM Telecom, Co-Founder & CEO of Intent.ai:
- ICT sector's turnover passed $1 billion in 2022 (vs $650M in 2021).
- There were 2195 active ICT companies as of July 2022
- 45K people are employed by IT companies (63% male, 37% female)
- No Growth rate in the number of students and graduates in STEM.

https://t.me/threenstartups

#digitec2022 #investorday #enterprisearmenia

Some more financial analysis on SVB situation.

If you look at the bank's balance sheet as of end of 2022 you'll notice that the structure of their assets is quite healthy and the bank can cover its liabilities.

The bank reported a residual of $14B in cash and $194B Securities & Loans. In the meantime the liabilities included $173B of deposits and $19B of Debt.

So, it looks like the situation is not that bad and the bank will be able to cover its debts and deposits with existing assets.

However, the devil is in details and according to Genuine Report, $117.4 of the bank's Securities & Loans (60% of its securities & loans) are unreliable.

The information that these assets are not reliable became known to the market and generated panic. Due to panic, holders of $173.2B deposit holders rushed to withdraw their money from the bank which resulted in liquidity crunch.

https://t.me/threenstartups

#svb #meltdown

Monday starts with good news:

The U.S. Department of the Treasury and Federal Deposit Insurance Corporation (FDIC) announced that FDIC will fully protect all depositors.