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Armenian Startup Ecosystem News Channel
by Ruben Osipyan @rubenosipyan
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Armine Galstyan, a Principal at SmartGate VC discusses her journey of a young Armenian woman supporting Deep Tech Founders in the Forbes article.

Here are the key takeaways shared by Armine:

1) Pre-seed companies often require mentorship, technical insight, and a clear roadmap.
2) It is important for investors to ask right questions:
- Do the founders have the right expertise?
- Is the IP and technology meaningful?
- Can we add value?
3) The goal is to become a partner in their success, not a mere investor.
4) Building ecosystems is critical:
- Hero House is the space (Yerevan and in LA) where founders, researchers, and investors exchange ideas and build lasting connections.
- The impact lies in the sense of founder community, where challenges are shared, and victories are celebrated.

πŸ‘‰ Read the full article here.

#SmartGateVC #ArmineGalstyan #SuccessStory

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Moxie’s Future Is At Stake 🚨

As announced by the Co-Founder & CEO of Embodied - Paolo Pirjanian, the future of Moxie, an AI companion for children, is in jeopardy. Due to a sudden investor reversal Embodied/Moxie left unable to sustain operations.

πŸ”‘ Key Developments:

1. Funding Collapse: A last-minute withdrawal by a key investor disrupted plans to scale and sustain Moxie.

2. Community Response: Families, philanthropists, and even potential buyers have stepped forward, expressing support. Parents have offered to raise funds, purchase subscriptions, and even buy the company to preserve Moxie’s mission.

3. Path Forward:
β€’ The company is actively exploring partnerships and acquisitions to ensure stability.
β€’ Financial solutions, including bridge financing and donor-supported initiatives, are being considered.
β€’ Open-source or hybrid approaches are on the table to keep Moxie accessible and ensure her mission endures.

We are hopeful that Paolo and his team, with the help of support of Moxie’s community will be able to overcome this challenge and continue helping children grow, learn, and thrive.

These kinds of challenges are invevitable in the founder's journey and some of founders are forced to stop operations and in such situations it is extremely important to see and feel the support of a broader community that even can help to recover πŸ’›

Embodied is a Series C startup with around $77.4M of funding in total.

#SaveMoxie

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Applications for EIT Manufacturing Venture Building Program 2025 are open now!

Join this 3-month online journey and seize a chance to get EUR 100K investment through their network:

πŸ“… Apply by: 15 Jan 2025 (12:00 CET)

πŸ‘₯ Program looks for B2B startups and university spinoffs focused on:
β€’ Critical components (semiconductors, photonics, quantum, etc.)
β€’ Energy transition (renewables, circular economy, etc.)
β€’ Automation & digitalization technologies

πŸ“Œ Eligibility Highlights:
β€’ TRL 4+ solutions
β€’ B2B business model serving manufacturing clients
β€’ Incorporated after 1 Jan 2022 in the EU or Horizon Europe-associated countries (Armenia is in the list)

πŸ”— APPLY NOW: Submit Your Application Here
πŸ“’ Register for Info Sessions: Sign Up Here

#VentureBuilding #InvestmentOpportunity #ApplyNow

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πŸš€ ServiceTitan Makes History! πŸ‡¦πŸ‡²

ServiceTitan became the first Armenian-founded tech company to IPO on the Nasdaq Global Select Market, raising $624.8M at $71 per share. Share price grew 42% to $101 and that valued the company at over $10B!

Founded by Ara Mahdessian and Vahe Kuzoyan in 2012, ServiceTitan became a global leader providing SaaS solutions for HVAC, plumbing and electrical industries.

Congratulations to the ServiceTitan team and the entire Armenian startup ecosystem on this achievement!

#ServiceTitan #IPO #SuccessStory #Exit

Photo & Text Credit: Zartonk Media

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πŸŽ‰STAN, in partnership with Triple S Ventures, has launched a Los Angeles Chapter. This initiative aims to strengthen ties between the two ecosystems, encouraging collaboration and growth. The chapter is going to become an investment platform that will help market access to international markets using the network, capital, and business expertise of the Armenian Diaspora.

The launch event took place on December 5 (PST) in Los Angeles, gathering prominent leaders from the startup and investment communities. The chapter will be co-chaired by Avag Simonyan, Managing Partner of Triple S Ventures, and Avetis Antaplyan, Founder and CEO of HIRECLOUT, and STAN board member and angel investor, bringing their extensive expertise and a shared vision for empowering entrepreneurs.

Congratulations to STAN and Triple S Vnetures on this milestone!

Source: STAN’s LinkedIn Page

#STAN #TripleSVentures #LAecosystem

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Team Telecom, one of the largest Armenian telecom companies, is expanding its footprint into Europe with the acquisition of Irish operator Imagine Broadband! 🌍

It is great to see how Team is taking tangible steps on the global stage.

We will look forward to seeing what new possibilities could this bring to the Armenian tech ecosystem.

Congratulations to the entire Team Telecom crew on this remarkable achievement!

πŸ”— Read More about the acquisition here.

#TeamTelecom #SuccessStory

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Dear Community:

Let's support Lesson22 that has launched its campaign on ProductHunt:

Lesson22 is showcasing its Chrome extension to turn articles into concise, memorable video summaries. This solution is designed specifically for visual learners, microlearning enthusiasts, and individuals with ADHD or dyslexia seeking a better way to absorb information.

πŸ‘‰ Upvote, like and share the project through this link.

#ProductHunt #Lesson22 #CommunitySupportNeeded

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Ready2scale Acceleration Program offers up to 60K EUR in grant for digital & deeptech innovators. If you’re at the MVP stage or beyond, this 6-month journey is designed to accelerate your development and prepare you for global markets.

Apply till 20th December 2024.

Benefits of participation:
🌐 Gain exclusive access to over 100 top international mentors.
πŸ“ˆ Investor Readiness Program.
🌍 Network at Future Founders Club

⏯️ Who Can Apply?

- The financing is granted for legal persons only
- The company has at least one full-time employee
- The company is not in a liquidation or bankruptcy process
- The company is based in an EU Member State or an eligible non-EU country, including Associated Countries (Armenia is on the list)
- The solution must have a technology maturity level TRL5 or higher

At least one of the following criteria:
- be digital and deep tech start-ups that have received support from the EIC for supporting their scaleup process in Europe
- or digital and deep tech startups not yet supported by the EIC, that have already received private investment or EU funding (e.g., under Horizon Europe or the Digital Europe programmed)

πŸ‘‰ Apply here: https://ready2scale.eu

#Ready2Scale #AccelerationProgram #GrantFunding
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Good news for the Armenian startup community!

The National Assembly has approved a law on "State Support for the High-Tech Sector" with several important changes.

The package envisions providing over $80 million in annual support to technology sector companies in terms of tax benefits covering income tax, corporate tax, and turnover tax. Beneficiaries include micro, small, medium, and large businesses, as well as relocated and subsidiary companies, branches, and other legal entity divisions. Sole entrepreneurs are also eligible beneficiaries.

Here's what's new:

1) Boosting R&D: Resident companies paying corporate profit tax can reduce taxable income by 200% of salaries paid to R&D specialists.
2) Incentives for Hiring New Talent: Companies hiring new employees will receive 60% of the new employee’s income tax as state support for three years.
3) Turnover Tax Reduction: Entrepreneurs and high-tech companies with turnover of up to $280k/year (AMD 115M) will benefit from a reduced tax rate of 1% (vs 5%).
4) Support for Relocants (Work Migrants): Starting Jan 1, 2026: 60% income tax reimbursement to relocants. For 2025: Same support extended to companies employing them.

Sources: Vice President of National Assembly Hakob Arsakhyan - See original post here and Advisor to VP of NA Sergey Muradyan - See the post here

#PolicyUpdates #StateSupport #Incentives

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As reported by Venture with Love channel, Kazakhstan Launches $1 Billion Fund of Funds to invest in AI, digital healthcare, and key technologies with an aim to transform into a regional innovation hub. See more in the original post here.

#Kazakhstan #FundofFunds

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Great news!

BlueQubit announced raising $10M Seed Funding led by Nyca Partners with participation of Armenian investors BigStory, Untapped Ventures, Formula VC, Granatus Ventures and other renowned global investors.

This funding will help BlueQubit scale its platform to sectors like finance, pharmaceuticals, and material scienceβ€”industries eager for quantum’s potential to tackle intractable problems.

Founded by Stanford grads Hrant Gharibyan and Hayk Tepanyan (former Google infrastructure engineer), Quantum Computing is getting closer to a reality. As Tom Brown from Nyca puts it: β€œHrant and Hayk have the background, skills, and drive to turn theory into practice.”

Congrats to BlueQubit and all the supporters and investors.

Read more about the round in this article by TechCruch: Read Here

#BlueQubit #SuccessStory #Investment

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Yellow Rocks Events Lineup Part 1⬇️

Our partners at Yellow Rocks invite you to start the new year by joining their exciting events. This lineup of events is perfect for connecting with entrepreneurs and investors, exchanging ideas, and building valuable relationships.

🎁 Use the promo code 3N for a 5% discount on all events.

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🌍 Open.Space "Forward to the Heights" | Morocco
πŸ“… January 24–26, 2025

An anti-conference event where participants shape the program themselves. They’ll cover key topics like business, work-life balance, and current challenges. You’ll be in great company with Russian-speaking entrepreneurs and investors from around the world! After the main program, extend your experience with a desert tour (January 26–29).

πŸ‘‰ Learn more and register

#YellowRocks #Techevents #Entrepreneurship

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Yellow Rocks Events Lineup Part 2

πŸŒ‰ Venture Trip | Silicon Valley
πŸ“… February 22 – March 1, 2025
Spend a week in Silicon Valley visiting Google, Tesla, Netflix, Plug and Play, and Alchemist accelerators. The program includes masterminds and meetings with investors. From past trips, participants gained at least 100 new contacts, with some securing investments or even relocating to the Valley.

πŸ‘‰ Learn more and register

⛡️ Venture Regatta | Rio de Janeiro
πŸ“… May 3–10, 2025
Join a yacht trip along Brazil’s stunning coastline, featuring secluded islands, beautiful beaches, and mangrove forests. Enjoy plenty of opportunities to connect and network with others.
🌟 Bonus: Pair it with Web Summit Rio (April 27–30) and the Venture Trip (April 30–May 2) to explore Brazil in depth.

πŸ‘‰ Learn more and register

🎁 Use the promo code 3N for a 5% discount on all events.

Don’t miss these incredible opportunities to grow your network, gain fresh insights, and start 2025 on a high note! 

#YellowRocks #Techevents
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Short Notice - Attention Startup Founders‼️

The first-ever Yerevan Founder Friday by TWIST is happening tomorrow on December 20th!

Founder Fridays is a global initiative by TWIST, aimed at fostering startup communities worldwide. This event is a unique opportunity to connect with fellow founders in a supportive and collaborative environment.

πŸ“… Date: December 20th
πŸ“ Location: Holiday Inn

Don’t miss out on this chance to be a part of Yerevan’s growing startup ecosystem. Follow the link below to register now!

πŸ”— Register Now: https://app.getriver.io/e/grvp4c8ywh1b

#TWIST #FounderFriday #Networking #Event

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Startup founders, hurry up to apply now to the Startup Grind Yerevan Pitch Battle happening Jan 15!

Eligibility: Tech-driven, scalable, repeatable business models, from bootstrapped to Series A.

πŸ† Prizes include:
β€’ Scaleup & Startup programs ($4,999/$2,999 value)
β€’ SG Global Conference access, stage time, and exhibits.

Yerevan winner goes global!
Compete in the Global Semi-Finals (Jan 21) and aim for the Grand Finals (Jan 23) with top founders worldwide.

πŸ‘‰ Apply now: https://airtable.com/appQk3fM8t3nTh3WW/pagfp1ffhg8AKFpMy/form
πŸ‘‰ Get your ticket: https://shorturl.at/xdFQ5

πŸ”₯ Let’s turn Yerevan into a startup arena!

β€œThe credit belongs to the man who is actually in the arena…” - Theodore Roosevelt

Step into the spotlight, pitch your vision, and make your mark on the global stage!

#StartupBattle #StartupGrindYerevan

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Great news - BANA Angels invested in Trag!

Trag redefines code review approach. By providing real-time, contextual feedback tailored to specific coding environments, Trag empowers developers to focus on creating impactful software. With Trag, coding becomes faster, smarter, and more efficient, as issues are caught before they impact projects. 

It is exciting to conclude the year with yet another investment announcement! Congrats to Trag, BANA Angels and whole ecosystem on this news.

#Trag #BANAAngels #Investment #SuccessStory

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The 2024 for the Armenian Startup Ecosystem was quite a year with ServiceTitan’s IPO, cumulative or around $700M worth of capital raised across 26 deals, the launch of Perceptron AI, global Tumo Center for Creative Technologies expansion, new laws streamlining startup growth, and Plug and Play Tech Center’s first acceleration batch in Armenia.

πŸ‘‰ Read more about these and other news in our annual recap: https://www.linkedin.com/pulse/2024-recap-major-wins-armenias-startup-h0zae/?trackingId=yONxCKpjRuKNawSLwxTjyA%3D%3D

A heartfelt thank you to Ashot Arzumanyan, Sona Veziryan, Hrant Khachatrian, Narine Davtian and Samson Avetian for their invaluable contributions.

#3N #ArmenianStartupEcosystem #AnnualRecap2024

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Dear Community - Happy New Year πŸš€

Glad to make the first post by 3N sharing an opportunity for idea stage innovative startups!

The 2025 GIST Innovates South Caucasus program launches its 2nd batch. It will be a 8-week intensive training program focuses on the Lean Startup process, customer discovery, and building a scalable business model for science & tech startups from Armenia, Azerbaijan, and Georgia.

πŸ“… Key Dates:
β€’ Apply by: 7 February 2025
β€’ Program starts: 11 April 2025

🎯 Program Benefits:
β€’ Agile customer discovery training
β€’ Weekly 1:1 mentorship
β€’ Peer support

Learn more about the program and apply here: https://www.gistnetwork.org/sc

Good luck and let's showcase Armenian tech talent in this regional program!

#Incubation #Training #IdeaStage #ScienceAndTech

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Apply to Y Combinator Spring 2025 Batch!

🌟 Y Combinator is accepting applications for the Spring 2025 funding cycle. The batch runs April–June 2025 in San Francisco.

πŸ“… Deadline to Apply On-Time: February 11 at 8 PM PT
⏳ Late applications will still be considered, but no guaranteed response time.

Dare to apply and become one of few Armenian founders - alumni of YC such as Alexis Ohanian (Reddit), Tat Ajamyan and Hrachik Ajamyan (Wakie), Armen Berjikly (Kanjoya), Raffi Isanians (Modern Realty), Andrey Santrosyan (Redouble AI), Ashot Ayvazyan (Cloudchipr), Davit Buniatyan (ActiveLoop) and others.

Learn more about YC and application process here: https://www.ycombinator.com/apply

P.S. Check out this photo of YC’s first batch with Sam Altman, Paul Graham, Alexis Ohanian and others. Learn more about the first batch here.

#YC #Acceleration #ApplyNow

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πŸš€ Applications are OPEN for EPIC Jam!

EPIC Jam is a 48-hour ideathon where you will form a team of like-minded aspiring founders to tackle real-world problems and pitch your idea to a jury.

Why Join?
β€’ Get mentorship from top industry professionals.
β€’ Participate in workshops to sharpen your idea and pitching skills.
β€’ Work with dedicated coaches guiding your team throughout.
β€’ Win prizes and rewards.

The program is open to anyone aged 18 and more from any academic background.

Apply now: https://epic.aua.am/epicjam/

Application deadline: January 15, 2025

#EPICJam #Hackathon #ApplyNow

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Noubar Afeyan and Moderna Honored with National Medal of Technology and Innovation by the President of the United States

Dr. Noubar Afeyan, Co-Founder and Board Chairman of Moderna, Founder and CEO of Flagship Pioneering was awarded the prestigious National Medal of Technology and Innovation by Dr. Arati Prabhakar, Director of the White House Office of Science and Technology Policy (OSTP), in a ceremony held at the Eisenhower Executive Office Building on January 3, 2025.

This award recognizes Moderna’s groundbreaking contributions to biotechnology, specifically the development of mRNA-based Covid-19 vaccines that a critical role in combating the global Covid-19 pandemic.

Dr. Afeyan is a visionary who co-founded FAST, Aurora and other initiatives to support Armenia’s scientific, cultural, and humanitarian development.

Join us in celebrating the recognition of Dr. Afeyan's contribution to innovation globally.

#NoubarAfeyan #Moderna #SuccessStory

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