The article showcases Armenia's tech sector highlighting the country's transformation into a tech hub with a robust startup ecosystem.

The piece emphasizes Armenia's tech evolution from software development for Western companies to creating its products, particularly excelling in AI.

The article details initiatives fostering tech education, such as Generation AI, Armath and TUMO, and highlights challenges like hardware constraints and the drive for more external funding to further propel Armenia's tech ecosystem onto the global stage.

Programs, startups and organizations featured in the article:

Startups:
- ViralMango
- Picsart
- Moderna
- Prelaunch
- Krisp
- Orders.co

Expos:
- Silicon Mountains
- Digitec Expo

Industry Leaders:
- Rem Darbinyan
- Noubar Afeyan
- Alexis Ohanian
- Avie Tevanian
- Robert Khachatryan
- Narek Vardanyan
- Hrant Khachatrian

Communities and Societal Initiatives:
- UATE
- Armath
- Real School
- TUMO
- Generation AI (by FAST)
- YerevaNN

https://www.forbes.com/sites/craigsmith/2023/12/08/soviet-mainframes-to-silicon-mountains-armenia-as-a-tech-powerhouse/

https://t.me/threenstartups

#forbes #armenia #article #highlights #press

Triple S Ventures, together with AGBU Young Professionals Yerevan will host a panel discussion series, dedicated to Shaping the Future: Next Generation Software Development.

Date: December 13, 2023 at 19:00
Venue: AGBU Armenia, 2/2 Melik Adamyan st
Book your spot here: https://bit.ly/3NgMw1c

Some of the speakers at the panel announced to date:
- Sipan Vardanyan, Co-founder and CEO of Hexens
- Artak Chopuryan, Co-founder and CEO at Zealous Tech

https://t.me/threenstartups

#agbuyp #triples #triplesventures #triplesvc #paneldiscussion #networking #event

AUA EPIC team organizes this year's last Startup Huddle Yerevan event on Friday, December 22nd, 9:30-11:00 AM at AUA, PAB, Akian Gallery, 4th floor, Room 434W.

The speaker will be announced very soon!

Make sure to reserve your seats here: https://www.eventbrite.com/e/startup-huddle-yerevan-ecosystem-meetup-to-unlock-startup-challenges-tickets-774282067507

https://t.me/threenstartups

#epic #aua #gen #startuphuddle

CurbWaste announced raising a $10M Series A round 🚀

The funding round is led by Flourish Ventures with participation from B Capital, Mucker Capital and TTV Capital.

With this new funding, the startup plans to digitize the waste hauling industry, empowering waste services companies to manage and streamline their operations from haul to disposal.

CurbWaste is a SaaS software and payments provider to the waste management industry. Its platform helps managing waste and recycling operations. About 95% of CurbWaste's SaaS subscribers also use the company's embedded payments. As a result, the payments business now processes $3 million in monthly transactions for its customers.

Priorly, CurbWaste raised $6M in 2022 and $4M in Seed funding in April 2023. With this new $10M Series A financing round CurbWaste's total capital raised makes up $20M.

Vach Hovsepyan, a former ServiceTitan executive is the Co-Founder & COO at CurbWaste.

https://t.me/threenstartups

#curbwaste #capitalraise #announcement #successstory #investments

HeroHouse hosts a Fireside Chat with the co-foun Dec 19 for a Fireside Chat with Vach Hovsepyan.

Vach is a serial startup executive and co-founder. He is currently the Co-Founder and COO of CurbWaste that recently raised $10M Series A (see the previous post in the channel).

​Having been at the front seat of taking multiple SaaS companies from ground zero to product/market fit, growth & retention, Vach has extensive experience in customer success, operations and business development, and will be sharing his experience with the founders and wider network.

We will talk about all things startup, the life of a founder, highs and lows of entrepreneurship, and more.

​📌 Vach is also looking to expand his development team to Armenia, so come join us to also explore opportunities, or share with friends that might be interested.

Book your spot here: https://lu.ma/dqmy3z2d

https://t.me/threenstartups

#herohouse #vachhovspeyan #curbwaste #event #networking #firesidechat

Angel Investors Club of Armenia (AICA) will have it's 19th Pitching Session on December 23, 2023! 🗓️

Contact AICA if interested in joining the event and and networking.

Let's come together to fuel the future of entrepreneurship!

https://t.me/threenstartups

#aica #angelnetwork #pitchingsession #networking #event

✨ Product People arranges a year-end event on December 20th at Best Western Plus Congress Hotel at 6:30 PM.

Agenda:

➡️ 6:30 PM - Welcomes and registration.

➡️ 7:00 PM - Keynote Speech by Asti Pili, Head of Growth at Krisp AI on "Leading with Product: The Main Growth Principles."

➡️ 7:30 PM - Panel Discussion with:

⚡️Gevorg Poghosyan, CEO at reArmenia and Co-Founder at The Crowdfunding Formula
⚡️Dmitry Stepanov, Yandex Hub Coordinator in Armenia and Director of New Product Development
⚡️Arik Akverdian, Co-founder at VCV.AI
⚡️Karén Gyulbudaghyan, Founder of Strategic Value Ventures and Founder of Ground Zero
⚡️Thomas Mazejian, Senior IT Executive and Founder of PMI Armenia Chapter

➡️ 8:30 PM - Networking Session to connect and ideate.

The entrance fee of 6000 AMD will be fully donated to charity via IMAST, fostering trust and transparency in Armenian philanthropy.

Secure your spot - mssg.me/productpeople

https://t.me/threenstartups

#event #networking #panel #productpeople

Multi-dimensional Leadership has proven to drive success in fast-paced, changing world.

Meetup topics:
➡️ Building #Resilience through personal life challenges
➡️ How to adapt to rapid changes and trends
➡️ Developing Critical & Strategic Thinking
➡️ Gaining Competitive Advantage

Zarik Boghossian, PhD has been designing, developing and investing in advanced technologies and innovative solutions over the past 40 years. As a Professor at Pepperdine University, Zarik has taught and mentored PhD, MBA and undergraduate Business School students in Entrepreneurship, International Management, Venture Initiation, and Social Entrepreneurship courses for the past15 years.

Strategic Value Ventures, LLC (SVV) is a San Francisco-based strategic advisory company and the official Global Innovation Partner of the UC Berkeley SkyDeck.

Ground Zero Specialty Coffee (1 Martiros Saryan St., Yerevan) is the only venture cafe in Armenia and the EMEA region.

https://t.me/threenstartups

#event #networking #groundzero #meetup

Sergey Muradyan, advisor to the deputy speaker of the Parliament announced good news for the ICT ecosystem of Armenia.

Yesterday, on Dec 21 2023, the Government approved a legal initiative to extend the operation of the law supporting ICT companies in Armenia for another year.

The initiative will be considered by the Parliament today aiming to approve it.

https://t.me/threenstartups

#regulations #government #parliament #itsupport #extension

Tax incentives for newly founded IT companies extended until December 31, 2024, providing relief only in the amount of 10% of income tax.

Some stats from the past years:

- Over 4K companies received the incentive to date
- 5.8K new workplaces have been created
- In 2021, 2022 and 2023 the number of companies getting incentives was growing steadily.
- After a peak growth in 2022 the growth continued in 2023.
- 80% of companies are exporting companies (incl. product companies).
- The average number of employees per company has been reducing during 2021, 2022, 2023 from 9.65 employee in 2021 to 3.54 employees in 2023.

Government plans developing new set of law amendment measures aiming to stimulate the growth of employment in the companies.

https://t.me/threenstartups

#regulations #government #parliament #itsupport #extension #mhti

Krisp released a new solution to empower call centers with AI Accent Localization. They will enter the market with the first solution removing Indian accent from English. The demo of the solution can be found here.

Krisp announced about work on this solution during AI Conf Armenia 2023 in June, 2023.

Congrats to the Krisp team on this milestone achieved. Keep rocking 🚀

We will look forward to hearing about new success stories from Krisp!

https://t.me/threenstartups

#krisp #accentlocalization #successstory

Armenian founders showcased true resilience and adaptability in 2023, announcing a total of $216M in investments.

The year posed significant challenges for Armenia, impacting its startup ecosystem. It wasn't just a challenging period for us; globally, there was a noticeable reduction in VC deals. Consequently, investors now conduct more thorough due diligence, elongating the investment decision-making process. Moreover, the cost of capital is on the rise, leading to reduced valuations for startups.

We have numerous founders establishing startups both domestically and globally. Strong connections between Homeland and Diaspora underscore how the success of startups with Armenian founders significantly benefits the Armenian ecosystem. This impact is twofold: directly, through the establishment of R&D teams in Armenia, and indirectly, as Armenian founders maintain active connections with their homeland, offering their network, knowledge, and advisory support.

To assess the performance of the Armenian startup landscape, 3N tracked investment announcements within both the Armenian ecosystem and startups with Diaspora Armenian founders. For ease of reference, we'll refer to Armenia-born startups and startups with Diaspora Armenian founders collectively as "Armenian Startups."

In total, Armenian Startups announced 24 deals, securing a capital raise of $216M. Notably, 82% of this capital was secured by startups with Diaspora Armenian Founders (7 deals). The lion's share came from Gecko Robotics, securing $100M in Series C capital, led by Co-Founder & CEO Jake Loosararian.

Armenia-born startups raised $27M, primarily closing pre-seed and seed rounds. Among these, Zero Systems stands as the sole Series A startup that announced an investment.

It's heartening to note that Armenian investors (VC firms and Angel Networks) collectively announced investments of $3M. Yet, the actual investment is likely higher, given undisclosed deal amounts.

However, it's apparent that the performance of local incubation and pre-acceleration programs has room for improvement. Presently, only two incubation programs—EPIC AUA and TUMO Labs—are active in Armenia, with others on pause. Furthermore, the absence of graduates from these programs among the top Armenia-born startups underscores that success stems from the founders' talent and a strong Diaspora.

Looking ahead, a more strategic and structured approach from the Armenian startup ecosystem in developing relations with the Diaspora is encouraged. The Armenian Diaspora can be instrumental in positioning Armenia as a regional startup hub, extending support not only to Armenian startups but also to regional startups from neighboring countries like Georgia, Kazakhstan, Russia, Ukraine, and Moldova. This approach could significantly elevate Armenia's status as a regional startup hub.

Additionally, seeing more Armenian enterprises launch venture-building programs and actively engage with the local startup ecosystem will contribute to a growing pool of Armenian high-tech innovations applied within the country's industries.

Ultimately, synergy and cooperation across all the actors in the educational system, research community, startup ecosystem, enterprises, and the Government will pave the way for groundbreaking innovations and elevate the performance of the Armenian startup ecosystem.

We hope to see more investment announcements, programs launched and impactful cooperation formed in the coming 2024.

We wish the Armenian founders to stay strong, resilient and energetic to contribute their talent to rebirth of our homeland.

https://t.me/threenstartups

#editorial #armenianstartupecosystem #annualrecap

On the eve of the New Year, Mkhitar Hayrapetyan stepped into the role of the Minister of High-Tech Industry of Armenia.

We would like to thank the former Minister Robert Khachatryan for his service. It was encouraging to witness Mr. Khachatryan at the ceremony, urging the new minister to uphold recent agreements with the high-tech community.

It's a significant gesture, highlighting the Ministry's commitment to collaborating with the community.

We hope to see energy and pro-activity from the new Minister in his role. Armenia's high-tech industry faces challenges. Armenian startups are thriving thanks to the talent of their founders (mostly Diaspora Armenian founders).

Our ecosystem builders and investors made important steps in the past paving the robust ecosystem. Now it is time to contribute a more sizable impact to the local ecosystem. We see a strong possibility for the local ecosystem to serve not only Armenian startups, but also the regional startups from Georgia, Moldova, Ukraine, Iran, and other countries.

Armenia can't match the financial might of oil-rich nations or offer a vast talent pools like larger countries. Our strategy should focus on nurturing talented founders and strengthening ties with the Armenian Diaspora. Smart, effective startup support programs are the way forward.

We believe in establishing robust private-public partnerships, fostering collaboration within the ecosystem, and building deeper connections with Diaspora Founders and Key Opinion Leaders.

Let's act smart and build a stronger tomorrow for our startups and tech community.

https://t.me/threenstartups

#editorial #mhti

500 Global Flagship Accelerator Program accepts startup applications.

500 Startup’s standard accelerator deal is a $150,000 investment in return for a 6% stake. They charge $37,500 to participate, but the fees can be deducted from the investment.

Take your startup to the next level with 500's seed program in Silicon Valley. The deadline to apply is January 19, 2024.

Find more details and apply here:
https://500.co/accelerators/500-global-flagship-accelerator-program

https://t.me/threenstartups

#500global #acceleration #investment #application #applynow

Join the Startup Wise Guys Founders Club. Find your team, develop an idea and launch a B2B startup. Build something massive!

Founders Club is a 12-week program led by experts who will guide teams and individuals through matchmaking, ideation, customer discovery, business plan and MVP development, and finally pitch preparation in front of an investment committee.

When your startup succeeds, The Startup Wise Guys commits to investing up to €100K, with follow on possibility.

The program costs €500+VAT.

Application deadline is January 25, 2024.

See more details and apply here: https://startupwiseguys.com/all-programs/the-founders-club/

https://t.me/threenstartups

#startupwiseguys #foundersclub #startupbuilding #matchmaking #investment #application #applynow

Artavazd Minasyan, co-founder of Krisp and 10Web and Partner at BigStory VC outlined a 9-step process to convert an idea into a growing startup:

1. Market Research
Understand the competition, market size and growth rate.

2. Pitch Deck
Create 10-15 slides. Present your vision to industry experts, angel investors and during networking events.

3. Prototype
Create a prototype of your product. If you don't code, find a tech-savvy co-founder to bring your idea to life.

4. Launch
Get a few early users or customers.

5. Funding
FFF (friends, family, and fools) phase - approach friends, family, and your network for initial funding. Also, consider government grants.

6. Pre-Seed Funding
Approach angel investors and local VC funds.

7. US Acceleration
Apply to programs similar to Y Combinator in the US.

8. Team and Product
Build your dream team of talented people. Execute your product and marketing strategy. Refine your product and marketing strategy.

9. $2 million Seed Funding
It's time to scale.

P.S. Bonus point 10 from 3N – Subscribe to 3N and seize the opportunities to fundraise, learn and accelerate 😇

https://t.me/threenstartups

#startupway #fromideatoscaling #artominasyan

Must-attend type of event if you are planning to launch or have already launched your biotech startup!

Karén Gyulbudaghyan will host Dr. Lucy Abgaryan and Dr. Gor Sarkisyan at Ground Zero Breakfast Series.

Hurry up to reserve your spot here: https://www.eventbrite.com/e/from-scientists-to-serial-entrepreneurs-30-year-odyssey-across-the-globe-tickets-790977554157

The event will happen at 8:30 a.m. on January 9, 2024 at Ground Zero.

https://t.me/threenstartups

#event #networking #groundzero #meetup

EIT Digital calls for applications from growth stage startups (Champions) that need fundraising support.

The EIT Digital Champions aims to identify the best European deep tech entrepreneurs and help them scale up internationally.

Startups in growth stage (scaleups) can apply in five thematic areas: Digital Tech, Digital Industry, Digital Cities, Digital Wellbeing and Digital Finance.

The timeline of the program is as follows:

➡️ Submission Deadline: January 30, 2024
➡️ Online Pitch Competition with VC Investors: February 6-7, 2024
➡️ Proclamation of Champions: March 19, 2024
➡️ Champions attend VIP Investor Dinner @ VivaTech, Paris: May 22-25, 2024

Apply and find more details here: https://www.eitdigital.eu/champions/

https://t.me/threenstartups

#eitdigital #support #accesstoinvestors #scaleups #deeptech #eu

Ihar Mahaniok, the managing partner at Geek Ventures, shares his thoughts about why the founders have to incorporate their startups as Delaware C corp.

Founders, do the right incorporation from the beginning!

Here's the thing. It's not something to research, or decide later, or compare different options. If you are interested in raising venture money from US investors, you have to be incorporated as a Delaware C-Corp from day one. Not an LLC, not a different-state C-Corp, not a company incorporated in another country. And this has nothing to do with the location of the founders - you can and should do Delaware C-Corp regardless of where you are in the world.
There is an assumption among many founders that changing incorporation, or flipping, is easy. Or that investors don't care about incorporation. Or that LLC can be somehow better or easier. It's incorrect.

Talking from experience. Over 3 years of Geek Ventures, we have seen about 5000 startups. About 50% of them are Delaware C-Corps, and the rest are all different kinds.

I've heard from hundreds of startup founders something along the lines of "oh, let's talk about investing, incorporation is not a problem, we can easily flip to C-Corp", or "I am starting the process, it will take just a few weeks", but I don't ever hear from them "I completed the process, and now we are a Delaware C-Corp".
We went deep with many startup founders that had "alternative" incorporation. None of them ended up successfully converting to Delaware C-Corp.

We even pre-committed to two startups; we loved the founders so much that we said that we would invest when they flipped to Delaware C-Corp. In both cases founders told us that this was amazing, this is their priority, and they were working day and night on flipping to Delaware C-Corp. 9 months later in one case and 6 months later in another, both companies weren't able to finish this conversion, meaning that they have been stuck in their fundraising for so long, not being able to get venture money.

We often send a quick message to non-Delaware-C-Corp founders saying "We only invest in Delaware C-Corps, so please come back after you reincorporate"; if the founder responds with "oh that's easy, I will do it later at some point" - it shows us that the founder doesn't know their stuff.

Here's the thing. No matter where you live in the world, if you are about to start a company, and you have a vision that shows possible $100M+ revenues and above, incorporate as a C-Corp in Delaware. Don't do anything else.

If you already have a company with an alternative incorporation, and you are willing to go the venture route, talk to lawyers today about starting the flipping process; or start a new Delaware C-Corp from scratch. Otherwise, you will waste lots of time in fundraising.

Digital Explorers II announced call for applications for career advancement program.

Digital Explorers II features two tracks:
- Trainee Track for entry level Data analysts (local and Baltic placements are on offer)
- Professional Track for experienced Front-End & Back-End developers and DevOps engineers

Apply for Digital Explorers Online by January 15, 2024: https://digitalexplorers.eu/projects/digital-explorers-ii/

https://t.me/threenstartups

#training #careeracceleration #baltics #eu #digitalexplorers

Applications are now open for GIST INNOVATES South Caucasus!

This is a 8-week pre-accelerator program for science and technology innovators. The program is designed to bring the best U.S. entrepreneurial expertise to the science and technology innovators in the South Caucasus region and thus help them to take their startup ideas to the next level.

The program is implemented in Tbilisi, Georgia and is open to founders from Armenia, Azerbaijan, and Georgia.

Application deadline is February 16, 2024.

Find more details and apply here: https://www.gistnetwork.org/activity/gist-innovates-south-caucasus

https://t.me/threenstartups

#deeptech #scienceandtechnology #preacceleration #southcaucasus #gist