Sevan Startup Summit Announces 2018 Winners

Sevan Startup Summit Announces 2018 Winners

Sevan Startup Summit 2018 was held from 22nd to 29th of July at the shore of Lake Sevan, Armenia. This Summit exceeded the previous events in terms of both the content and scales.

Sevan Startup Summit 2018 was the gala event of all the Summits held previously this year. During the closing ceremony in 2017 it was announced that the Summit will go overseas and will be held in different corners of the world. Already in 2018, the Summit was held 2 times outside of Armenia, on February in the UAE and on March in India.

Sevan Startup Summit 2018 hosted more than 1000 participants from about 35 countries. 135 participating startups got a chance to attend workshops and have an informal discussion with successful entrepreneurs and business experts from all over the globe. Among them there was the successful Armenian media manager Arthur Janibekyan, social entrepreneur Ruben Vardanyan, co-founder and partner at Almaz Capital, Alexander Galitsky, Managing partner of Iratel Venture Max Khatak, co-founder of Silk Road Startup Hadi Farnoud and many other founders of venture funds and successful startups.

During the 7 days of the Summit, the startups got a chance to meet various investors and venture fund representatives from all over the globe. Some of them have already made a deal and other commitments are still ongoing. The detailed report of the commitment done will be announced soon.

The participating startups based on their stage of development and field of operation took part in two programs – Starter and Booster. The startups participating in the starter programme were the ones which had an idea and prototype but still aren’t available in the market, the startups in the booster programme had a prototype and have already entered the market or are planning for it in the near future.

During the pitching battles on 27th and 28th of July the two best startups from each track got a chance to take part in the Final Battle and the Big Battle. The prize fund of Sevan Startup Summit 2018 reached $50,000.

The results were announced on the 28th of July during the closing ceremony. The president of the Republic of Armenia Armen Sarkissian attended the Summit. He highlighted the importance of bringing together the new technologies and innovative solutions to Armenia.

The 3 selected startups in the Starter program were Magicup, SpectreAerospace and Noomi which will receive 5, 3 and 2 thousand USD cash prize respectively.

MagiCup makes cooling and self-heating cups. The cups work by cooling or heating their content as a result of harmless chemical reactions. There is no product of this efficiency in the market.

The 3 selected startups in the booster program were SuperAnnotateAI, Currencii and Sense2beat which will also receive 5, 3 and 2 thousand USD cash prize respectively.

SuperAnnotate AI provides a fast, accurate and user-friendly AI based tool for image annotation and editing. It decreases human work time by 5-20 times while increasing the annotation quality.

Zoop, Formaloo and Drupz were among the top 7 startups from Iran in the Booster and Iranian startup, Arthibition was among the top 6 startups in the Starter program.

Sevan Startup Summit was organized by Startup Armenia Foundation and Granatus Ventures. Sevan Startup Summit is supported by the European Union through its EU4Business “Support to SME Development in Armenia” (EU-SMEDA) project (www.smeda.am), co-funded by Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by German Development Cooperation GIZ through the Private Sector Development in South Caucasus Programme.