MBA Students Gain Insight into Armenian Startup Ecosystem

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YEREVAN, Armenia — The American University of Armenia (AUA) Master of Business Administration (MBA) program wrapped up the company visits for the current spring semester with stops at BANA Angels and Formula VC. This component of the program exposes students to authentic business operations that develop their knowledge and skills in competitiveness and also expand their professional networks.

At these companies, students were respectively greeted by the director of BANA Angels, AUA alumna Sona Veziryan (MBA ‘18) and Formula VC partner Grigor Hovhannisyan, and learned about the history of these companies, their vision, and strategic and tactical goals. Both hosts spoke about the need for developing in Armenia a culture of angel investment and venture capital. The students also learned about investor types, investment strategy development, due diligence, fundraising, investment management, and implementation, with a review of the current dynamics and trends.

During the visit, the students asked questions pertaining to venture capitalism and the challenges early-stage startups experience. They had the opportunity to inquire about where to start and what risks and opportunities investors and start-up companies encounter. The hosts freely shared their experiences and insights with the students, offering practical advice and guidance to aspiring entrepreneurs and potential investors in the group.

BANA Angels is an angel investment group based in Armenia that provides seed funding and mentorship to startups in the country. The group comprises successful entrepreneurs, business leaders, and investors who are passionate about supporting the next generation of Armenian innovators.

Formula VC is a venture capital firm that invests in technology startups in Armenia and other emerging markets. It provides capital, mentorship, and support to startups at every stage of their development, from seed funding to growth-stage investment.

Both BANA Angels and Formula VC have been instrumental in promoting Armenia’s startup ecosystem. They have invested in a diverse range of startups, including many in tech, biotech, and e-commerce. Their portfolios include some of the most promising new startups in Armenia, such as CoinStat, Zoomerang, 4u.am, Hexact, and others. Given the strong emphasis of the MBA program on cultivating an entrepreneurial and innovative mindset, such visits complement the value added and help create direct connections with the respective industry, particularly developing capacity for sustaining and growing the startup ecosystem in Armenia.

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.