Elevating Entrepreneurship: A Recap of EPIC Jam Two-Day Ideathon
3 min readYEREVAN, Armenia — In the heart of the Armenian capital, the Entrepreneurship and Product Innovation Center (EPIC) of the American University of Armenia (AUA) recently hosted a two-day innovation ideathon specially designed for aspiring entrepreneurs and innovators.
The EPIC Jam Ideathon, held on September 9-10, served as a haven of creativity for individuals with a passion for problem-solving and a keen desire to embrace entrepreneurship. The Ideathon brought together dozens of participants, each with a unique background and skill set, to address a common challenge: how to embark on an entrepreneurial journey without having a concrete startup idea or dedicated team.
On the first day, participants were presented with a range of real-world challenges spanning diverse fields, from food waste optimization to financial advising solutions. Individual participants quickly formed teams around the problems that resonated with them the most. The teams then engaged in brainstorming sessions, guided by coaches and mentors who encouraged them to think outside the box. The atmosphere was electric as ideas flowed freely and participants explored innovative solutions to their respective challenges.
The second day focused on refining the ideas they had generated. Mentors provided valuable insights, probing the teams to consider factors like problem-solution fit, competition, and value proposition. It was a day of intense preparation as the teams geared up for the final pitch.
Reflecting on the EPIC Jam, Dr. Naira Campbell-Kyureghyan, a mentor and judge who recently joined AUA’s Akian College of Science and Engineering as the C. Judson King Endowed Professor, underscored the profound impression the Ideathon left on participants. “What an impactful event!” she noted. “I was impressed by the level of enthusiasm and drive for innovation displayed by the participants.” The diverse background of the teams proved to be pivotal to problem-solving. “The diversity of background in the teams allowed them to approach each problem from different angles,” she added. The mix of perspectives contributed to the development of innovative and unconventional solutions. “The two-day EPIC Jam was well organized and paced in a way that allowed the teams to uncover their strengths and weaknesses, brainstorm, fail and recover, and, at the end, make their pitch in a highly professional manner,” Dr. Campbell-Kyureghyan explained. Her observations highlighted the significance of EPIC Jam in nurturing not only creativity, but also resilience and versatility for entrepreneurial success. The Ideathon served as a platform for participants to learn, grow, and ultimately deliver pitches that showcased their innovative concepts.
The culmination of the teams’ efforts was pitching their startup concepts to a jury panel. Each team had a unique vision, with ideas as diverse as the participants themselves and representing a wide array of applications and business solutions. ArVest, the team that offered an innovative approach to financial advisory services, secured the top position. The second-place winner put forth an artificial intelligence solution that determines if a video could go viral. In third place was the TheraTent team, which proposed how to increase access to physical therapy services in Armenia.
As EPIC Jam came to a close, it was evident that the event had achieved its goal of nurturing innovation and entrepreneurship. Participants who had entered as individuals without ideas left with both a startup concept as well as a dedicated team.
The Ideathon was a confirmation that innovation has no boundaries. EPIC Jam was successful in attracting aspiring entrepreneurs with diverse backgrounds and helped transform their creative potential into viable startup concepts. The spirit of innovation was palpable throughout the two days, attesting to the power of collaboration and problem-solving. In the words of one participant from the winning ArVest team, “EPIC Jam was a truly adventurous two-day journey. It’s like a growth accelerator: you have challenges and little time to overcome them. So you leave your comfort zone and unleash your hidden potential.”
What’s next for these budding entrepreneurs? For the top three teams emerging from EPIC Jam, an exciting opportunity awaits. They gain direct access to the EPIC Incubation entry idea pitching session, the final stage in the selection process. But the journey doesn’t end there – EPIC welcomes all teams to apply to the EPIC Incubation program, as they have already forged well-structured teams and kickstarted their ideas during EPIC Jam.
The EPIC Jam 2-Day Ideathon was a celebration of innovation, creativity, and entrepreneurial spirit. It demonstrated that anyone with a vision and determination can take their first steps toward building a startup. As EPIC continues to foster entrepreneurship, the impact of these innovative ideas will gradually ripple throughout Armenia and beyond.
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.
