From idea to the first success thanks to the “From idea to market” contest
On December 11th the venture forum of the Science, technology and Enterprise Program (STEP) was held by the Enterprise Incubator Foundation at the Innovation Solutions and Technology Center (ISTC).
The event aimed to stimulate the development of enterprises in the technology sector, and to contribute to the commercialization of innovative ideas in the information, communication and high technology (ICT), engineering, clean technology, and agricultural spheres contributing to the development of Armenia.
During the forum the jury was presented with 20 investment projects which have been designed by Armenian innovation teams in the scope of the “From Idea to Market” competition. The 5 winning teams were Triple-E, Social Bridge, Varkatu.am, Appress, and Loyal Club.
Triple-E: augmented, virtual or mixed reality technology aims to improve on the imperfections of visually delivered materials giving technology users the opportunity to receive additional information in the real time about any object viewed through the digital camera their phones in the form of an image, video, 3-dimensional object or auditory content.
Social Bridge platform connects users who generate the content in social networks and organizations that are searching for valuable information to improve their business. It allows Facebook users to earn money by making posts.
Varkatu.am platform is designed to connect businesses and investors. It suggests new solutions in online banking which differ from the traditional banking system and will make the communication between creditors and borrowers easier.
Appress helps to comfortably read news from the media of the selected country. It allows complete translation of the selected article.
Loyal Club gives companies the opportunity to know their primary/eventual consumers.
Each team received a prize of 2,800,000 AMD for the realization of the innovative ideas.
The jury consisted of both Armenian and international experts. The members of the jury included the founder of Crosspring incubator Maurice Beckand Verwee, the principal of Ayb School and vice-president of ABBYY Aram Pakhchanyan, Head of the Department of Information Technology Development Naira Nikoghosyan, and consultant of EV Consulting Valeria Arzangulyan.
This year more than 80 teams had submitted applications for the competition.