The Enterprise Incubator Foundation (EIF) implements multiple initiatives that facilitate the development of High-Tech industry and entrepreneurship in Armenia’s regions. One such initiative is the Innovation & Regional Matching Grants Program, which recently marked yet another Demo Day.

The EIF organizes the Demo Day event series to support the program grantees’ success and foster a startup ecosystem in Armenia, particularly the regions. The event series also facilitates collaboration between the participants. On April 1, the EIF held the fourth “Bridging the success: IMG/RMG Demo Day” for the startups from the regions of Armenia. The event united startup representatives, investors, and other actors in Gyumri Technology Center. The attendees learned about the latest achievements of Armenia’s startup community, the challenges they faced and the solutions they found.

At the event, the grantees of the Regional Matching Grants competition made their pitches, presented their success in the competition, and shared with the audience their plans for the future.

A panel discussion titled “Fostering Innovation and Growth: Empowering Regional Startups” took center stage at the Demo Day event. The insightful discussion revolved around the significance of engaging the youth and students in the region to develop innovative solutions for both local and international markets. The discussion also emphasized the importance of international collaboration and the establishment of startups in the regions of Armenia to catalyze the growth of the regional economy. The speakers were Aram Khachatryan (NeoGraph Games), Patvakan Hakhinyan (ToughBuilt), and Zaven Chilingaryan (Synergy).

All grantees are from the Shirak region, and they received funding amounting to around $72,600 as part of the fifth call.

The RMG competition winners are:

EASYSALES is a sales management mobile app designed to automate processes for distribution companies. The focus of this solution is on sales growth and control. In particular, the app can control sales and debt dynamics, detect risks of potential financial abuse, and help sales managers sell more.

FARMFRESH, a digital management system that connects farmers and consumers, serves as a platform for the farm-to-table concept. With this solution, farmers get higher profits and consumers get lower costs. FARMFRESH helps to reduce waste and make communities more sustainable. The Demo Day participants voted the startup as the winner in the “Most Impressive Pitch” category.

F-LIGHT is a solution for the theater and concert industry, which helps automate light effects on the stage. It is a set of devices that detect the performer’s position on the stage and enable the light panel to follow the performer automatically.

CNC TECH LLC with its StanOK project designs and builds multifunctional machines controlled by a unified digital program. The program’s design solutions make it possible to produce other digital software control machines and parts. However, CNC can customize machines for each client, which removes the need to produce local machines in local markets.

DIGITAL SILK ROAD LLC (WEchat) aims to attract more Chinese tourists to Armenia by developing a WeChat mini-application to provide tourists with information about Armenia and access to the digital services of the country’s hospitality industry.

The Demo Day series is organized within the framework of the “Trade Promotion and Quality Infrastructure” Project, implemented by EIF with the support of the Armenian Government and the World Bank. The project aims to create a Startup Community, where both established and early-stage startups can catch up and create professional and business relationships, and where the startups can access new investment resources.