AUA Energy4Climate and Ramsis Capital Wrap Up Venture Competition

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YEREVAN, Armenia — Earlier this year, the AUA Energy Transitions for Climate Solutions Initiative (E4C), a collaboration between the AUA Acopian Center for the Environment and the AUA Entrepreneurship and Product Innovation Center (EPIC), organized a Venture Competition in Environmental Sustainability, Clean Technology, Conservation, and Energy Tech. This competition sought to identify and support entrepreneurs and new ventures committed to addressing sustainability challenges through innovative solutions.

The competition, open to startups and ventures interested in energy and environmental sustainability, attracted a diverse array of participants eager to showcase their innovations. Evaluation criteria encompassed various facets such as business life cycle/stage, commercialization/technology risk, management team, product-market fit, environmental sustainability impact, MVP/prototype stage, and market potential.

One of the opportunities offered through this competition was the chance for eligible startups to participate in the invitation-only EarthX E-Capital Summit 2024, hosted in Dallas, Texas. Ramsis Capital, the sponsor of the initiative, pledged to finance up to two participants, covering participation costs for the EarthX E-Capital Summit.

“The planet is facing unprecedented environmental risks and challenges. Armenian startups should have the opportunity to participate in finding solutions for some of these problems. My hope is that through initiatives like this, we can continue to foster a diverse range of local businesses that will drive meaningful change for the benefit of Armenia and beyond,” stated Robert Bassili, Founder and President of Ramsis Capital LLC.

Wearify, an EPIC Incubation program’s alumni, dedicated to sustainable fashion solutions, emerged as the recipient of the first prize. Their pioneering approach to merging technology with sustainable fashion impressed the jury, showcasing the potential for impactful change within the industry.

Karine Martirosyan, CEO and Founder of Wearify shared her impressions, “As the founder of Wearify, I’m honored to receive the first prize. Supporting sustainable fashion tech companies is essential as they address global sustainability challenges. Together, we can pave the way for a greener, more sustainable world”. 

The Venture Competition not only highlighted the ingenuity and dedication of entrepreneurs in the field of environmental sustainability but also underscored the importance of collaborative efforts in addressing global challenges. As the world continues to grapple with climate change, initiatives like the AUA E4C play a vital role in fostering innovation and driving positive change in Armenia and the region. 

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.