Two AUA Students Won UNIDO GCIP Prize for “Most Promising Youth-Led Business”
2 min readYEREVAN, Armenia – Two American University of Armenia undergraduate business students, Edgar Andriasyan and Artyom Kosyan, won $1,000, as well as recognition for their business venture, Freesol Tech., as the “Most Promising Youth-Led Business,” for their idea to manufacture a product that could save households around the world from 25% to 40% on energy costs each month.
The indoor heating device is made using recycled soda cans that are especially processed to absorb solar energy. As cool indoor air passes through the cans, it is released back as warm air. The device acts a supplement to existing heating systems, but is able to sharply reduce energy expenditures in homes and other indoor spaces.
The United Nations Industrial Development Organization (UNIDO) Global Cleantech Innovation Programme (GCIP) in Armenia awarded the prize to the young entrepreneurs. The National Winner in the UNIDO Global Cleantech Innovation Programme in Armenia (GCIP), is “NanoHi,” which will be presenting its product to the Cleantech Open’s 2015 Global Forum in Silicon Valley on November 19-21, 2015.
“In addition to formal academic learning, students should also be engaged in different entrepreneurial and scientific projects in order to get experience,” Kosyan said, who along with Andriasyan, partnered with Mergelyan Club, a promising youth development project, run under the mentorship of Technology and Science Dynamics (TSD), that encourages its members to be active in the social and professional spheres.
Andriasyan and Kosyan have already built a prototype of their product that made its first appearance at DigiTec Expo 2015 in Yerevan. The builders of the $700 device are also founding directors of AUA Startups, an undergraduate student club that aims to “create opportunities for students who have business ideas, want to create a new startup, have existing startups, want to join an existing startup team, or want to be engaged in an entrepreneurial network.”
“Besides the prize and the acknowledgement, the competition gave us the opportunity to network with other successful people from different fields: scientists, professionals, experienced entrepreneurs, and investors. One big thing for us was that we met an investor who is willing to accompany us on our business journey. This was also a big motivation for us, as new entrepreneurs, to continue our way in the business world with hard work, perseverance and joy,” Andriasyan said.
Two UNIDO certificates awarded to Freesol Tech.
Freesol Tech.’s product, named “001EA” (1st prototype), is an indoor heating device presented at DigiTec Expo 2015 in Yerevan
Andriasyan and Kosyan at the UNIDO GCIP Final Pitch session
