EU4Business offers backing to Armenia’s annual Summer Startup Summit on the shores of Lake Sevan

Representatives of the EU4Business SMEDA project sign a partnership agreement with the organisers of the 2017 Sevan Startup Summit, which will take place on the shores of Lake Sevan in Armenia from 24 to 31 July.

EU4Business, through its SMEDA project, has signed a partnership agreement with local bodies to support Armenia’s Sevan Startup Summit, which will be held from 24 to 31 July 2017.

The Summit is as an important annual event in Armenia where startups can present their business ideas and further improve them with the assistance of mentors, experts, trainers and peers.


Where startups and investors meet

It is expected to attract over 1,000 participants this year, including 70 startup companies and 30 developer teams, who will compete for USD 40,000 of funds.

Armenian startups are also expected to attract a further USD 200,000 at the event from angel investors and venture capital firms.

Eva Naeher, team leader at SMEDA (Support to SME Development in Armenia), commented: ‘We are very happy to collaborate in this venture. Our hope for the Sevan Startup Summit is that it will provide helpful business advice to Armenian startups.’

SMEDA teaming up with local organisers

SMEDA signed a Memorandum of Understanding in June with the bodies organising the Summit: Startup Armenia Foundation, the Small and Medium Entrepreneurship Development National Center of Armenia (SME DNC) and Global AM NGO.

The Summit will end with a Grand Beach Party on the shores of Lake Sevan to celebrate its achievements.