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Armenian Startup Ecosystem News Channel
by Ruben Osipyan @rubenosipyan
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Picsart partners with Getty Images! ๐Ÿฆ„

Picsart, the photo-editing startup backed by SoftBank, is teaming up with Getty Images to develop a custom AI model for its 150 million users! ๐ŸŒŸ

๐Ÿ”น Exclusive AI Imagery: Unique and commercially usable images with Picsart's new AI model, built from Getty Images' licensed content.

๐Ÿ”น Safety & Innovation: The new AI model ensures safe creative tools, addressing concerns around AI-generated images and copyright issues.

๐Ÿ”น API Access: Built by Picsart's AI lab, PAIR, and accessible via Picsart's API services.

"This partnership enables commercially usable AI-generated imagery from a world-class brand," said Picsart CEO Hovhannes Avoyan.

https://t.me/threenstartups

#picsart #gettyimages #ai #innovation #successstory
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Yesterday, we learned about the legal actions taken against the Armenian startup gg. Although the official press release states that this was part of a process initiated a year ago, there is significant mistrust surrounding this claim. We have strong reasons to believe that these actions were a response to a controversial Facebook post made by ggโ€™s founder during the protests against the government.

โ—๏ธWe join our voices with those who demand that the government stop reacting in this manner and tolerate protests and criticism.

https://t.me/threenstartups

#editorial
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๐ŸŒพ๐Ÿš€ Join TUMO Labs' 12-week incubation program to revolutionize in AgriTech!

๐Ÿ’ผ What's in it for you?

๐Ÿ”ธTurn your ideas into reality with full support from TUMO Labs.
๐Ÿ”ธEnjoy free office space and expert guidance.
๐Ÿ”ธDesign your business model and secure investments.
๐Ÿ”ธConnect with a community of forward-thinkers.

๐ŸŒ Regional applicants are welcome! Receive accommodation and travel support to Yerevan for our 2-day Ideathon kickoff event.

๐Ÿ—“ Apply by August 1, 2024: Apply Now!
๐Ÿ‘‰ Apply here: https://tumolabs.am/en/agritech_incubation/

https://t.me/threenstartups

#agritech #tumoLabs #incubationprogram
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๐Ÿš€ Formula VC Invests in StarsHunt! ๐ŸŒŸ

Formula VC invested in StarsHunt marking its 19th investment (the fund invested $3.4M in Armenian startups already ๐Ÿš€๐Ÿ”ฅ).

StarsHunt is revolutionizing recruitment with their AI-powered interactive interviews. It is an AI recruiter that conducts video interviews 24/7, asking personalized follow-up questions tailored to each candidate's responses.

Congratulations to Formula VC and StarsHunt on this milestone! We look forward to more success stories coming from this partnership! ๐ŸŒŸโœจ

https://t.me/threenstartups

#formulavc #starshunt #investment #successstory
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Denovo Sciences, an Armenian deep-tech startup creating novel therapeutics using state-of-the-art AI technologies, has published an article in Nature, one of the world's most prestigious academic journals! ๐ŸŒŸ

๐Ÿ”ฌโœจ Don't miss out! Read their groundbreaking article here: https://www.nature.com/articles/s41598-024-65228-5

Join us in congratulating fellow Armenian startup innovators on this achievement!

https://t.me/threenstartups

#denovosciences #successstory
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๐ŸŒŸ Join the "Ask VC" Community Meetup in Yerevan! ๐ŸŒŸ

๐Ÿ“… Date: June 28, Friday
โฐ Time: Guest arrival at 18:45, Start at 19:00
๐Ÿ“ Location: Letters and Numbers Coworking & Cafe, 35G Tumanyan St., Yerevan

๐Ÿค Event Highlights:
- Connect with fellow IT, startup, and venture investment enthusiasts.
- Meet potential co-founders, future colleagues, and like-minded individuals.
- Enjoy engaging conversations in an informal setting.

๐Ÿป What's in Store:
- BBQ, local beer, and cider.
- Specialty coffee.
- Exciting new connections!

๐ŸŽค Moderator: Fedor Koryagin - Venture Analyst, Startup Founder (raised over $3M), and Author of the Telegram channel OutOfScope.

๐ŸŽŸ Admission is Free! Support the venue by purchasing a drink at the bar.

โ˜‘๏ธ Reserve Your Spot Now: Register Here

https://t.me/threenstartups

#event #networking
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๐Ÿš€ Opportunity for Deep-Tech & Tech Startups! ๐Ÿš€

The EIC Accelerator 2024 is now open for applications! This is an excellent opportunity for SMEs and startups to scale up high-impact innovations with substantial funding and support.

Benefits:
- Funding from EUR 0.5 to EUR 17.5 million
- Business Acceleration Services
- Access to "patient capital" for long-term projects

Eligibility:
- SMEs, startups, and small mid-caps in EU Member States or Associated Countries. โ—๏ธ Armenia is an eligible country.
- Innovations based on scientific discovery or technological breakthroughs.
- Technology must be at least at Technology Readiness Level 5.

How to Apply:

๐Ÿ—“Submit your short proposal anytime before December 24, 2024.
๐Ÿ‘‰ Apply and find more details through this link.

Donโ€™t miss this chance to bring your groundbreaking ideas to market! ๐ŸŒŸ

https://t.me/threenstartups

#eufunding #eicaccelerator
๐Ÿš€ Attention Tech Startup Founders! ๐Ÿš€

The Tech Startup Competition by The Leo Lion Foundation is now open for applications! This is a good opportunity for innovative tech startups aiming to transform business operations and create a positive social impact.

Benefits:
- Secure up to $1m in seed funding
- Pitch your ideas at The Shard, London
- Gain support from the Leo Lion Foundation

Eligibility:
- Early-stage tech startups
- Visionary founders seeking to improve the world

How to Apply:
- Submit your pitch deck and business plan by September 30, 2024.
- ๐Ÿ‘‰ Apply here: https://www.futureofcapitalism.tech/

Donโ€™t miss this chance to turn your vision into reality! ๐ŸŒŸ

https://t.me/threenstartups

#funding #competition #contest
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๐ŸŽ‰ Key takeaways from the 500 Eurasia Demo Day!

๐Ÿ—ฃ Pedro Santos Vieira (Partner at 500Global):

- 500 Global manages a $2.4B portfolio with 3K companies.
- Success story: Praktika.ai, achieving $15M ARR in 12 months and raising $35.5M.

๐Ÿ’ก Panel Insights:

- Zach Coelius: "Money is made by crazy people doing weird things."
- Mal Filipowska: "By 2050, half the worldโ€™s population will be in emerging markets."
- Elena Mazhuha: "Think about plans A, B, C, and act quickly."


๐Ÿš€ Startups from the Demo Day:

Katalist.ai
Clustr
YAYA
VideoPoint
Raised
Optimyzee
Trag
Helio.AI

โœจ Alumni Highlights:

- OHMYSYNT: Doubled user base, ARR grew to $200K. ๐Ÿ”
- Kings International: Profitable with $650K ARR, entering the Indian market. ๐Ÿ‡ฎ๐Ÿ‡ณ
- Arena Games Platform: 20x growth in blockchain gaming.

๐Ÿ‘‰ Learn more from my LinkedIn post

https://t.me/threenstartups

#500 #500global #500eurasia #demoday
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3N Startups
๐ŸŽ‰ Key takeaways from the 500 Eurasia Demo Day! ๐Ÿ—ฃ Pedro Santos Vieira (Partner at 500Global): - 500 Global manages a $2.4B portfolio with 3K companies. - Success story: Praktika.ai, achieving $15M ARR in 12 months and raising $35.5M. ๐Ÿ’ก Panel Insights: โ€ฆ
One more important takeaway for startups and investors.

โ—๏ธZach Coelius: For us the quality of updates is No1 indicator of a startup success. If a startup founder is able to periodically provide meaningful updates to its investors (providing both ups and downs on its journey) it is a good sign for investors.

From my personal experience, I would say that in the best case only 1 out of 10 funded startups realizes how important it is to proactively share updates with its investors.

As a CEO of an Angel Network I am spending a solid time reaching out to startup founders and asking them to update their investors.

Food for thought for the fellow startup founders ๐Ÿค”
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๐Ÿš€ Exciting News from Berlin! ๐Ÿš€

Synthflow AI, a Berlin-based startup founded by Armenian entrepreneurs Hakob and Albert Astabatsyan, and Sassun Mirzakhan-Saky, just raised $7.4M in Seed funding! ๐ŸŽ‰

Led by Singular and backed by Atlantic Labs and AI leaders, they're set to revolutionize how small businesses use AI voice technology.

You can read a case study of the startup's journey prepared by Bubble. Here are the key takeaways:

No-Code AI Agents for Accessibility: Synthflow AI offers a no-code platform, making AI technology accessible to users without coding expertise.

Rapid Development and Iteration: Synthflow leveraged Bubble to build and launch their product in two weeks, enabling quick iterations and testing.

Community-Driven Growth: Synthflow's growth was driven by the supportive Bubble community, which validated their product-market fit and facilitated rapid scaling.

Congrats to the fellow Armenian founders on this big success!

https://t.me/threenstartups

#investment #synthflow #successstory
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Applications for AICA's 22nd Pitching Session are now open!

Entrepreneurs who wish to present during the 22nd Pitching Session are invited to send their pitch decks.

๐Ÿ—“ Deadline: July 7, 2024
๐Ÿ‘‰ Apply by sending your pitch decks (and other documents) to ventures@aica.social

The pitching session event will take place on July 20th.๐ŸŒŸ

๐Ÿ’ก Submitting early will give you more time to refine your startup story and strengthen your position for investor presentations.

Good luck!

https://t.me/threenstartups

#aica #angelinvesting #startup #pitchingsession
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๐Ÿš€ AWS, in collaboration with NVIDIA, has launched the AWS Generative AI Accelerator!

๐ŸŒŸ Program Highlights:

- Win up to $1M in AWS credits
- Receive a complimentary ticket to AWS re:Invent

๐Ÿ—“ Application Deadline: July 19, 2024.

๐Ÿ”— Apply Now: aws.amazon.com/startups/accelerators/generative-ai

Finalists will be invited for virtual interviews. Stay tuned for updates by the end of August.

https://t.me/threenstartups

#aws #nvidia #acceleratorprogram
Happy Vardavar ๐Ÿ’ฆ

Product People Armenia will host Yeva Hyusyan, the Co-Founder & CEO of Sololearn, a Series B stage ed-tech startup that provides an at scale solution for upskilling and reskilling by making tech skills accessible to all.

The event will be in a BusinessTalks format, where you can ask questions from the audience and meet personally after the event.

The event will be moderated by Tat Ajamyan, Founder of SleepDoctor and Wakie (YC alum).

๐Ÿ—“ Date: July 9
๐Ÿ•ข Time: 6:30 PM

๐Ÿ‘‰ Book your seat here: https://mssg.me/productpeople

๐Ÿ”ฅ This is the very first event hosted in a newly opened IT hub in the heart of Yerevan - at ai9. Find the Google Map link here.

Don't miss a chance to attend this event!

https://t.me/threenstartups

#event #networking #yevahyusyan #tatajamyan #ai9 #productpeoplearmenia
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๐Ÿ“Š Carta's Q2 Startup Ecosystem Insights: Key Takeaways ๐Ÿ“Š

Every quarter, Carta releases a comprehensive State of Private Markets report on the startup ecosystem. Here's an early glimpse into Q2 data for U.S. startups:

๐Ÿš€ Valuation Trends:

- Modest increases in median pre-money valuations at most venture stages.
- Rapid valuation spikes for Series D and E+ rounds (on very low volume).

๐Ÿ’ต Round Size Consolidation:

- Median cash raised remained steady from Seed through Series C after recovering from 2023 lows.

๐Ÿ“ˆ Fundraising Overview:

Overall fundraising in Q2 is projected to be only slightly higher than Q1.

https://t.me/threenstartups

#carta #analytics #positivetrends
๐Ÿš€ Open Call for Armenian Startups: Apply Now for the WITSA World Cup National Competition! ๐Ÿš€

Calling all Armenian Pre-Series A startups! Showcase your innovative solutions and compete on a global stage. The WITSA World Cup National Competition in Armenia is now accepting applications until July 31, 2024.

๐Ÿ† Why Apply?
- Gain international exposure
- Compete with top startups worldwide
- Opportunity to represent Armenia at WCIT2024/DigiTec

๐Ÿ“… Key Dates:
- Application Deadline: July 31, 2024
- National Event: October 2024 at the Karen Demirtchian Complex, Yerevan

๐Ÿ”‘ Evaluation Criteria:
- Innovation
- Customer traction
- Scalability
- Tech for good
- Potential

โœจ Don't miss out on this chance to shine globally! Visit here for more details and to apply: https://www.f6s.com/witsa-national-competition-armenia

https://t.me/threenstartups

#witsaworldcup #wcit2024 #startups #competition #applynow
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