PRESS RELEASE – Denovo Sciences is Among EWC Top 25 Global Finalists

FOR IMMEDIATE RELEASE

YEREVAN, Armenia — The Entrepreneurship and Product Innovation Center (EPIC) of the American University of Armenia (AUA) is proud to announce that Denovo Sciences, the Entrepreneurship World Cup (EWC) Armenia national winner, was selected as a Top 25 Global Finalist to participate in the EWC Global Finals later this year in Riyadh, Saudi Arabia. 

The EWC is one of the world’s largest and most diverse pitch competitions and support programs for the next generation of entrepreneurs. Since launching in 2019, EWC has supported more than 300,000 participants from 200 countries, awarded $2 million in cash prizes, and provided in-kind support and services valued at $150 million.

In the 2021 competition, EWC received 100,000 registrations from 200 countries. One thousand startups pitched at the National Finals organized and judged by local entrepreneurship organizations spread across six continents. The top 100 startups advanced to the virtual component of the Global Finals, and the top 25 will travel to Riyadh, Saudi Arabia, for the final stage of the competition.

Armenia’s National Winner, Denovo Sciences, is among the Top 25 EWC Global Finalists. It will compete with startups from 20 other countries, some of which have very mature ecosystems, such as the United States, Canada, the United Kingdom, Singapore, China, and India.

The Armenian National Finals was held on July 24, in Yerevan, and two Armenian startups, Denovo Sciences, and Zoomerang advanced to the global competition as national representatives. 

“It is the first time that Armenia is participating in this global competition. We were elated that two startups from Armenia advanced to the Top 100 Global Finalists. To then have one of the two, Denovo Sciences, our National Winner, to advance further in the competition to be among the Top 25 Global Finalists is beyond all expectations. It is a massive achievement for the whole Armenian entrepreneurship ecosystem which will receive substantial visibility and acclaim. Congratulations to all!” says Nejdeh Hovanessian, national coordinator of EWC Armenia and assistant director of EPIC.

To date, Denovo Sciences has already received $750,000 in-kind services and support, including from top service providers in the field,  like AWS, Segment, Brex, Hubspot, and others. It will compete in a live event with the other 24 finalists in the last stage of the competition.

In the EWC Global Finals in Riyadh, $500,000 will be awarded for placement in first place, $250,000 for second place, and $100,000 for third place. Cash prizes of $100,000 will also be awarded to the top-scoring startups in the idea stage and social enterprise categories.

The Entrepreneurship and Product Innovation Center (EPIC) is a platform of the American University of Armenia (AUA) for promoting entrepreneurial education, cross-disciplinary collaboration, and startup venture incubation. EPIC provides an ecosystem for emerging entrepreneurs consisting of first-class facilities and collaborative workspace, programs and events, and a network of mentors, advisors, and investors. EPIC fosters the understanding and application of entrepreneurship in students and faculty at AUA to craft high-impact multidisciplinary ventures.

Kind regards,

Margarit Hovhannisyan | Communications Manager

Margarit Hovhannisyan|: Communication manager

+374 60 612 514,  

mhovhannisyan@  

__________________________________________

American University of Armenia

Republic of Armenia, 0019, Yerevan, Marshal Baghramyan Ave. 40:00

40 Baghramyan Avenue, Yerevan 0019, Republic of Armenia


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Armenian Ambassador to Russia doesn’t rule out applying to CSTO for assistance

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 11:41,

MOSCOW, NOVEMBER 17, ARMENPRESS. Despite the situation having stabilized at the Armenian-Azerbaijani border it can’t be ruled out that Armenia could still apply to the Collective Security Treaty Organization (CSTO) for help, the Armenian Ambassador to Russia Vardan Toghanyan told RIA Novosti.

“It’s difficult to say, it depends on how the situation will develop, we have what we have,” he said when asked whether or not Yerevan intends to request help from the CSTO. “Let’s see how the developments will unfold.”

The situation in the eastern border of Armenia, which came under attack by Azerbaijani armed forces on November 16, is relatively stable as of 10:00 November 17, the Armenian Ministry of Defense said in a statement earlier on November 17.

It said that the ceasefire agreement is “mostly” holding.

The Ministry of Defense also issued information on casualties of the Azerbaijani military in the November 16 actions.

The Azerbaijani military suffered up to 70 casualties of personnel, including KIAs and WIAs, as well as significant materiel losses, namely 4 BTR armored personnel carriers, 1 Sandcat vehicle and 5 other automobile vehicles (Kamaz, Ural, UAZ).

1 Armenian soldier was killed in action and 13 others were taken captive by the Azerbaijani military. Another 24 Armenian troops are missing-in-action after contact with them was lost during combat.

“Intensive works are underway to find the servicemen. Two military positions have gone under adversary control. Russian-mediated negotiations are ongoing over resolving the situation and returning the captured Armenian servicemen.”

 

Editing and Translating by Stepan Kocharyan

Armenian President presents current situation on borders caused by Azerbaijani military aggression to foreign partners

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 12:38,

YEREVAN, NOVEMBER 17, ARMENPRESS. President of Armenia Armen Sarkissian presented the current situation on the borders of the country caused by the latest Azerbaijani military aggression to a number of state, public figures, heads of influential media outlets during the Bloom New Economy Forum in Singapore.

Armen Sarkissian presented the Azerbaijani encroachments against Armenia’s territorial integrity, as well as the issue of the Armenian prisoners of war who are illegally held in Azerbaijan.

On the sidelines of the Forum, the Armenian President also gave interviews to several foreign media outlets, during which he once again touched upon the post-war situation in the country and the continuous military aggression of Azerbaijan and its illegal infiltration into Armenia’s sovereign territory.

At the meetings with the leaders of Paypal, McKinsey & Company, Bharti Enterprises, Mastercard, Temasek, Tata Group and other international companies, the President also introduced Armenia’s development prospects and future programs.

 

Editing and Translating by Aneta Harutyunyan

Council of Europe stands ready to facilitate dialogue between Armenia and Azerbaijan – Secretary General

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 12:39,

YEREVAN, NOVEMBER 17, ARMENPRESS. The Secretary General of the 47-nation Council of Europe, Marija Pejčinović Burić, called on Armenia and Azerbaijan to remain committed to solving conflict by peaceful means.

 “I am concerned about reports of on-going incidents between Armenia and Azerbaijan that have already cost human lives. News of a ceasefire is welcome and I call on both sides to maintain it.

When joining our organization more than twenty years ago, both Armenia and Azerbaijan committed themselves to solving conflict by peaceful means. This commitment remains unchanged and must be strictly respected”, the CoE Secretary General said.

Marija Pejčinović Burić stated that the Council of Europe reiterates its full support to the Co-Chairs of the OSCE Minsk Group in their continuing efforts to help Armenia and Azerbaijan find a peaceful solution to their differences.

“We stand ready to facilitate dialogue between these two member states, with a view to building confidence and promoting reconciliation”, Marija Pejčinović Burić said.

Decline in new cases of COVID-19 being noticed – Armenian minister of healthcare

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 13:02,

YEREVAN, NOVEMBER 17, ARMENPRESS. Minister of Healthcare of Armenia Anahit Avanesyan sees a tendency of decline in the new cases of COVID-19 in the country, but she notes that the high mortality rate is still being maintained.

“We hope that the number of new cases will decline also in the coming week. The decline in the new cases allows us to provide the citizens with hospital resources, as we do not have any person waiting for hospitalization. All persons, who need to be hospitalized, are being hospitalized at this moment, which is very important in terms of providing proper and timely medical care”, she said.

Editing and Translating by Aneta Harutyunyan

Government debt-GDP rate to decline by 0.7%: Central Bank calls 2022 state budget draft ambitious

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 13:07,

YEREVAN, NOVEMBER 17, ARMENPRESS. The Central Bank of Armenia says the government’s 2022 state budget draft is quite ambitious. According to the CBA, there will be a certain decline in the debt burden in 2022.

“Overall, it can be said that the 2022 state budget draft is quite ambitious, compared to the government’s medium-term expenditure program, it supposes significant acceleration of the economic growth and potential”, CBA President Martin Galstyan said during today’s debate of the budget draft in the Parliament and reminded that 7% economic growth has been forecast for 2022.

He said that the economic growth of 2022 will be based on large-scale state investments in infrastructure and human capital development areas.

“The quick restoration of gross demand, connected with the increase in both the domestic and external demand, will continue in 2022”, he said, while presenting the CBA conclusion on the budget draft.

As a result of economic recovery, tax administration and legislative reforms, it is expected that the taxes-GDP rate in 2022 will have a 0.9% growth, in case of which the state budget revenues will have a restraining effect on the gross demand. “On the other hand, the 2022 state expenditure policy will be directed to growth promotion, targeting the significant increase in share of public investments and management of the efficiency of spending, at the same time returning to the set fiscal rules”, he said.

Cut in state budget deficit is expected in 2022, by 1.6 percentage point against GDP. “According to our estimations, it will comprise 3.1%, a 0.7% decline in government debt-GDP rate, which will comprise 60.2%”, Martin Galstyan said. “It is estimated that the smooth consolidation behavior and the preservation of the fiscal rules as enshrined by the 2022 state budget draft will contribute to reducing Armenia’s state debt burden and ensuring macro-economic stability”.

 

Editing and Translating by Aneta Harutyunyan

Parliamentary standing committee chair sees necessity for creation of engineering troops in new format

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 13:55,

YEREVAN, NOVEMBER 17, ARMENPRESS. Chairman of the Armenian parliamentary standing committee on defense and security affairs Andranik Kocharyan says the presence of engineering troops in the Armed Forces in new format is a vital necessity.

“It’s obvious that there should be such grounds in the budget that the presence of engineering troops becomes a vital necessity. It has a slightly different format in the structure of our Army today”, he said during the parliament’s debate of the 2022 state budget draft.

Kocharyan also commented on the current situation in the border and stated that at this moment the situation in the eastern section of the border is calm.

 

Editing and Translating by Aneta Harutyunyan

Stabilization of Armenia-Azerbaijan border situation requires implementation of trilateral agreements, says Russia

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 14:32,

YEREVAN, NOVEMBER 17, ARMENPRESS. Russia will continue the mediation efforts to settle the conflict between Armenia and Azerbaijan, Russian presidential spokesperson Dmitry Peskov told reporters.

“In any case we think that the only way for the stabilization of the situation is the implementation of the trilateral agreements. And we think that all countries must first of all follow their commitments, which will become a guarantee for non-repetition of such incidents”, Peskov said.

On November 16, the Azerbaijani armed forces launched a major attack on Armenia from the eastern border. The Azerbaijani military deployed artillery, various caliber firearms and armored equipment in the attack. The fighting stopped through a Russian-mediated ceasefire later in the day.

 

Editing and Translating by Aneta Harutyunyan

Armenia expects diplomatic and military support from Russia – Secretary of Security Council

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 14:58,

YEREVAN, NOVEMBER 17, ARMENPRESS. The Armenian authorities expect that Russia, as a strategic partner, will help resolve the issues pertaining to the situation which was created at the border as a result of Azerbaijan’s actions, the Secretary of the Security Council of Armenia Armen Grigoryan told Kommersant newspaper in an interview when asked what specific assistance Yerevan expects from Moscow as part of the 1997 treaty.

Grigoryan, who is in Moscow for the CIS Secretaries of Security Council meeting, noted that now the Azerbaijani armed forces are located on sovereign Armenian territory. “This is an act of aggression. In 1997 Armenia and Russia agreed to help one another in such cases. This is exactly why we applied to Russia,” he said.

Asked if Armenia expects military or diplomatic assistance, Grigoryan elaborated: “We are in favor of a diplomatic solution to the issue. But if this won’t be possible to do diplomatically, then the issue must be resolved militarily.”

Grigoryan said that in this matter Armenia prioritizes Russia and the CSTO. “But if a solution isn’t found we will start considering other opportunities too,” he said.

Editing and Translating by Stepan Kocharyan