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Armenian Startup Ecosystem News Channel
by Ruben Osipyan @rubenosipyan
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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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๐Ÿš€ Index Ventures Announces $2.3 Billion in New Funds

Index Ventures announced a $2.3 billion in new funds to support the next wave of tech startups globally! ๐ŸŽ‰

๐Ÿ”น $800M for Venture Investments
๐Ÿ”น $1.5B for Growth and Late-Stage Companies

The funds were raised in just a few weeks, entirely from existing LPs, showcasing the firmโ€™s strong reputation.

Index Ventures is a leader in the VC space, particularly in AI. โ€œThereโ€™s a huge opportunity for entrepreneurs to build on AIโ€™s foundation models, adding real value,โ€ says Nina Achadjian, partner at Index Ventures.

Index Ventures' portfolio includes Figma, Revolut, Roblox, Scale AI, and Wiz. Over the past 28 years, theyโ€™ve funded 108 unicorns, 23 decacorns, and 57 public companies.

P.S. Nina is one of the leading forces of HIVE - one of the first and most successful Armenian VC funds investing in numerous promising Armenian startups.

https://t.me/threenstartups

#indexventures #venturecapital #ninaachadjian #diaspora
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๐Ÿš€ Flagship Pioneering Raises $3.6B! ๐Ÿงฌ

Flagship Pioneering has expanded its capital base by $3.6B to support the creation of 25 breakthrough companies in human health, sustainability, and AI. This brings their total capital raised since 2021 to $6.4B!

๐Ÿ”ฌ โ€œOur focus is on pioneering original science to invent transformative technologies that improve human health and our planet,โ€ says Flagship Pioneering Founder & CEO Noubar Afeyan.

๐Ÿข Flagship has expanded globally with hubs in London and Singapore, through collaborations and partnerships with industry giants like Pfizer and Samsung.

๐Ÿ‘ฅ Flagship's portfolio includes innovative companies like Moderna, Generate Biomedicines, Indigo Agriculture, Foghorn Therapeutics, and Tessera Therapeutics.

This news and this one demonstrate the strength and power of the Diaspora. Its potential in transforming Armenia into an innovation hub is obviously underused.

https://t.me/threenstartups

#biotech #ai #flagshippioneering #investment #healthtech #noubarafeyan
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๐Ÿš€ HerculesAI (ex Zero Systems) secured $26M in Series B funding!

Exciting News for the Armenian Startup Ecosystem! HerculesAI (formerly Zero Systems) secured $26 million in Series B funding! ๐ŸŽ‰

Since 2017, theyโ€™ve been pioneers in automating professional services, and their early focus on building large language models (LLMs) has paid off massively, especially after the surge of interest in LLMs with the rise of ChatGPT in 2022.

Theyโ€™ve been developing small models since 2020, running them on edge devices for compliance. Today HerculesAIโ€™s multi-agent system is revolutionizing intelligent data extraction, transformation, and verification, ensuring accuracy by comparing data against regulations, policies, contracts, and laws.

They had 4x growth in the past year, with 30% of the top 100 US law firms and major Fortune 500 companies like Mercer, Standard & Poorโ€™s, and State Farm as clients.

Kudos to Gevorg Karapetyan and HerculesAI for their incredible achievement! ๐ŸŒ๐Ÿš€

https://t.me/threenstartups

#investment #successstory #herculesai
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๐Ÿ“ข Brace yourselves for QLOONG Vol. 5!

๐Ÿ“… Date: July 18, 2024
๐Ÿ•’ Time: 19:00
๐Ÿ“ Location: Unicorn Community Cafe, 83 Koghbatsi St

๐Ÿš€ Qloong Vol. 5 promises raw and brutally honest feedback to propel your startup forward. Connect with entrepreneurs, investors, and enthusiasts. Share stories, network, and discover new opportunities.

๐ŸŽค Want to present? Apply now to showcase your startup and receive feedback from experienced Qloongers. ๐Ÿ”— https://lnkd.in/d_mnKK-R

๐ŸŽŸ๏ธ Not presenting? No problem! Join us for an evening of entertainment, surprises, and invaluable insights. ๐Ÿ”— https://lu.ma/lbm0hmd4

Places are limited, so don't miss out - registerโ—๏ธ

Event Links:
- Facebook: https://shorturl.at/RWtbA 
- LinkedIn: https://shorturl.at/GysA5 

https://t.me/threenstartups

#qloong #event #networking #ideavalidation
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๐Ÿš€ IT Future Hub: Yerevan 2024 - IT Synergy by Analysts Association, Gitakan Tech Institute and Anahit Hub ๐Ÿ‡ฆ๐Ÿ‡ฒ

Learn about the latest IT trends and network with industry leaders.:

โœ… Types of IT analysts and their responsibilities
โœ… Salary ranges for IT professionals at various levels and in different countries
โœ… Successful job search strategies in IT: how to find a job in 2024
โœ… Unique career-building cases in IT: steps to becoming a top expert

๐Ÿ“Œ Venue: Anahit Hub, Hakob Hakobyan St 3, Mergelyan Institute, Yerevan

๐ŸŒ Online meetup broadcast: the link will be available after registration

๐Ÿ—“ Date: August 4, 2024
โฒ Time: 14:00 Yerevan time (GMT+4)
๐Ÿ“ข Language: Russian

โžก๏ธ Registration link

This event will be beneficial for professional growth, acquiring new knowledge, and expanding your network!

https://t.me/threenstartups

#analystsassociation #itfuturehub #meetup #event #netwokring #anahithub #gitakan
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๐Ÿš€ Modicus Prime Secures $3.5M Seed Investment! ๐Ÿš€

Modicus Prime has raised $3.5M in seed funding for a revolutionary advancement in drug manufacturing quality control!

This round was led by Silverton Partners, with additional support from Alumni Ventures and other notable venture firms.

With strong roots in the Armenian startup ecosystem, Modicus Prime's team features significant Armenian leadership, including advisor Jack Topdjian. Notably, three Armenian VCsโ€”Granatus Ventures, Triple S Ventures, and SmartGateVCโ€”have invested in the startup previously.

Modicus Prime's self-service AI software is revolutionizing biotechnology through advanced image analysis, preventing costly contaminations and ensuring real-time product quality.

Congrats to the Modicus Prime team and their investors on this milestone! ๐Ÿ”ฅ

https://t.me/threenstartups

#modicusprime #investment #successstory #granatusventures #triplesventures #smartgatevc
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