EPIC Demo Day: Contracta.ai and GAIT HUB Win Agbabian Prizes

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YEREVAN, Armenia — On June 6, the Entrepreneurship and Product Innovation Center (EPIC) of the American University of Armenia (AUA) held the annual EPIC Demo Day. The startup teams participating in Spring 2023 are the 12th EPIC cohort to take the stage.

Throughout the Demo Day, the impressive mix of ten teams, comprising past and recent EPIC graduates, presented their innovative startups to an audience of over 180 assembled in Manoogian Hall. The attendees included members of the AUA Board of Trustees, faculty, staff, students, mentors, advisors, investors, and others from the Armenian startup community. The event was also live-streamed for virtual viewers.

EPIC Director Prof. Michael Kouchakdjian kicked off the Demo Day first, highlighting EPIC’s various programs and accomplishments, specially mentioning the early stage programs, including STRIVE, EPIC Jam, and the EPIC Incubator program. He then briefed about EPIC’s involvement in global initiatives that connect Armenia’s startup ecosystem with the world, namely the Entrepreneurship World Cup, Global Entrepreneurship Week, CrowdVentures, Iliad Digital Twin Initiative, and others. Prof. Kouchakdjian made special mention of the 10-day EPIC/HIVE Silicon Valley Industry tour for EPIC and AUA students that commenced last week. 

Next, Alisa Chalakhyan, STRIVE program director, gave a briefing about the STRIVE program, particularly sharing the impressive participant numbers since the start of the program and EPIC’s plans for expansion.

Subsequently, Anna Khachatryan, the operations and community manager of EPIC, reviewed the progress realized by the EPIC incubation program since its inception. With a track record of 12 cohorts admitted to the program, support of over 110 startup teams, and training, mentoring, and coaching over 300 individual entrepreneurs since 2018, EPIC has been successful in growing entrepreneurship in Armenia. She then expressed gratitude to the mentors, speakers, and advisors, past and present, who have contributed to the program’s success. In her words, “Networking and relationship building are fundamental prerequisites for success in entrepreneurship. The EPIC incubation program provides teams with a platform to build relations with mentors, advisors, and successful entrepreneurs to help them learn from others and have input from professionals on their road to success”.

EPIC Demo Day witnessed remarkable presentations, showcasing the teams’ startup concept, progress, and potential for success. After careful consideration of these factors, two teams emerged as winners. Contracta.ai (Fall 2022 cohort) was awarded the Michael Agbabian EPIC Seed Fund, securing a grant of $2,500, while GAIT HUB (Spring 2023 cohort) claimed the Michael Agbabian EPIC Innovator title, winning a prize of $1,000. Hovannes Dashotyan, CEO of GAIT HUB, noted, “Participation by GAIT HUB in the EPIC Demo Day provided an invaluable platform to showcase our innovative med-tech solution and connect with industry specialists, investors, and the wider public. Winning the Innovator prize has further validated our hard work throughout the entire EPIC Incubation Program in Spring 2023. We remain steadfast in our mission to deliver advanced solutions for the global healthcare system.”

The Demo Day was followed by a networking reception that enabled the participating startups to engage with the audience, get valuable feedback, and establish contacts for further collaboration. As a testament to their promising entrepreneurial potential, three teams were slated to continue receiving support from EPIC for an additional three months, benefiting from its open space facilities, mentorship, and access to a valuable network of connections. Looking ahead, the 13th batch of the EPIC incubation program will begin accepting applications in July 2023, with the program scheduled to start in October. Stay tuned to the EPIC website and social media pages for further information on the deadlines and program dates.

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.