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SCIENCE & TECHNOLOGY ENTREPRENEURSHIP GRANT COMPETITION WINNERS TO RECEIVE $15,000 EACH
YEREVAN, November 27. /ARKA/. Winners of a grant competition under
the Science & Technology Entrepreneurship Program (STEP) will receive
$15,000 each, Director of Enterprises Incubator Foundation (EIF)
Bagrat Yengibaryan said.
The program has been implemented by the Enterprises Incubator
Foundation together with the US Civilian Research and Development
Foundation (CRDF Global) and Armenian Ministry of Economy since 2006.
"The aim of the program is to find bright ideas, teams and projects
that may be interesting to investors," Yengibaryan told journalists
at the two-day From Idea to Market venture forum opened in Yerevan
Tuesday.
This year, the STEP From Idea to Market annual competition started
in May. More than 50 participating projects on IT, engineering,
biotechnology, chemistry, and etc. were evaluated by American and
Armenian specialists, Yengibaryan said.
Of them, about 20 projects selected through a review process, have
the opportunity to present and pitch their technology to potential
investors. The winning projects will receive 15,000 US dollars each.
Along with Armenian specialists the expert panel of judges included
reputable American experts, Warren Haber and Heath Naquin, this year.
Number of applications grows from year to year, Yengibaryan said.
Apart from that, some projects and teams have grown into successful
organizations, he added. STEP participants export their products to
Thailand, Ukraine, Russia and the USA.
Representative of CRDF Global Yevgeny Krasovskiy, in his turn, said
that the efforts made have been very fruitful.
"Our aim is simple - we should support local technological
entrepreneurship and give people of all ages an opportunity to bring
their technological ideas to market, implement their potential,
establish contacts and create new jobs," Krasovskiy said.
According to Krasovskiy, number of young participants of the
competition has grown over the last two-three years.
"We see the history of success," he said adding that there are people
and companies who took the advantage of the program themselves and
helped the others.
Armenian Deputy Minister of Economy Tigran Harutiunyan, in his turn,
reminded that IT is a priority development field and receives funding
from the government.
The aim of the STEP is to help Armenian specialists to introduce new
products, create new enterprises and to successfully cooperate with
other companies. Grants are given, seminars and business courses are
held, legal and accounting consultancy is provided under the STEP.-0-
YEREVAN, November 27. /ARKA/. Winners of a grant competition under
the Science & Technology Entrepreneurship Program (STEP) will receive
$15,000 each, Director of Enterprises Incubator Foundation (EIF)
Bagrat Yengibaryan said.
The program has been implemented by the Enterprises Incubator
Foundation together with the US Civilian Research and Development
Foundation (CRDF Global) and Armenian Ministry of Economy since 2006.
"The aim of the program is to find bright ideas, teams and projects
that may be interesting to investors," Yengibaryan told journalists
at the two-day From Idea to Market venture forum opened in Yerevan
Tuesday.
This year, the STEP From Idea to Market annual competition started
in May. More than 50 participating projects on IT, engineering,
biotechnology, chemistry, and etc. were evaluated by American and
Armenian specialists, Yengibaryan said.
Of them, about 20 projects selected through a review process, have
the opportunity to present and pitch their technology to potential
investors. The winning projects will receive 15,000 US dollars each.
Along with Armenian specialists the expert panel of judges included
reputable American experts, Warren Haber and Heath Naquin, this year.
Number of applications grows from year to year, Yengibaryan said.
Apart from that, some projects and teams have grown into successful
organizations, he added. STEP participants export their products to
Thailand, Ukraine, Russia and the USA.
Representative of CRDF Global Yevgeny Krasovskiy, in his turn, said
that the efforts made have been very fruitful.
"Our aim is simple - we should support local technological
entrepreneurship and give people of all ages an opportunity to bring
their technological ideas to market, implement their potential,
establish contacts and create new jobs," Krasovskiy said.
According to Krasovskiy, number of young participants of the
competition has grown over the last two-three years.
"We see the history of success," he said adding that there are people
and companies who took the advantage of the program themselves and
helped the others.
Armenian Deputy Minister of Economy Tigran Harutiunyan, in his turn,
reminded that IT is a priority development field and receives funding
from the government.
The aim of the STEP is to help Armenian specialists to introduce new
products, create new enterprises and to successfully cooperate with
other companies. Grants are given, seminars and business courses are
held, legal and accounting consultancy is provided under the STEP.-0-