Armenia StartUp Cup Award Ceremony to be held during Global Entrepre

Armenia StartUp Cup Award Ceremony to be held during Global
Entrepreneurship Week
14:41 10.11.20120

On Monday, November 12, the names of the Armenia StartUp Cup Business
Model Competition winners will be announced at the American University
of Armenia (AUA) during the award ceremony which will kick off the
first Global Entrepreneurship Week in Armenia.

Since August, the participants were developing and improving their
business models. In September, the participants attended an intensive
Build-A-Business workshop at AUA, led by the founders of the StartUp
Cup from the United States.

`The entrepreneurs of Armenia have inspired us,’ says Sean Griffin,
CEO and Founder of StartUp Cup. `We look forward to seeing the winners
of the 2012 Armenia StartUp Cup impact the economy, grow jobs, and
inspire a new generation of Armenia entrepreneurs to follow their
dreams by starting their own company.’

Following intensive work with coaches and judges, seven teams have
advanced to the Final round. These teams will be pitching their
business models to the judges one last time this week, and the winners
will be announced on Monday, during the Global Entrepreneurship Week
Armenia kick-off event. The top 3 winners will receive monetary prizes
from the USAID funded Enterprise Development and Market
Competitiveness (EDMC) Project to assist them in starting and
expanding their businesses.

`EDMC support is aimed at developing a competitive process that
educates entrepreneurs to design a viable business model, develop
relations with potential customers, and accelerate their start-up into
the marketplace through a comprehensive competing and coaching
process; thus transforming business-models into viable businesses and
creating jobs,’ says Gayane Dallakyan, EDMC’s Acting Chief of Party.

Armenia StartUp Cup is co-organized by the Association of Technology
Startups, USAID/EDMC Project, and the American University of Armenia,
and is supported by Enterprise Incubator Foundation (EIF), UITE,
Center for Entrepreneurship and Executive Development (CEED),
DoIt!Lab, Deem Communications, and the School for Young Leaders.

CEED will provide a customized training program to the finalists of
the competition to enhance their ability to implement their ideas and
successfully launch the proposed products and services. The teams
will strengthen their skills in marketing, finance, and other business
disciplines and will work on their business plans. The program will
use elements of CEFE methodology (Competency-based Economies through
the Formation of Enterprise) and will leverage CEED’s network of
mentors to provide further guidance as the participants embark on the
entrepreneurial journey.

`This is the first year of Armenia StartUp Cup, but the results are
already impressive. It is a great honor and huge responsibility for us
to be working with such partners and becoming official hosts of the
Global Entrepreneurship Week in Armenia,’ says Hayk Asriyants, the
organizer of Armenia StartUp Cup.

Besides the Armenia StartUp Cup Award Ceremony, the Global
Entrepreneurship Week in Armenia, will also feature numerous events
involving different stakeholders all aiming at the development and
promotion of the entrepreneurship.

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