EPIC’s Fall Lineup of Programs to Empower Armenia’s Startup Ecosystem

6 min read

YEREVAN, Armenia — The Entrepreneurship and Product Innovation Center (EPIC) at the American University of Armenia (AUA) is thrilled to announce the launch of its comprehensive lineup of fall programs, aimed at empowering Armenia’s next generation of entrepreneurs. With a mission to cultivate and support innovative ideas from inception to realization, the Center offers a structured journey for aspiring entrepreneurs from across the country through its flagship programs: EPIC STRIVE, EPIC Jam, and EPIC Incubation.

EPIC has strategically designed a pipeline that progressively guides participants through an entrepreneurial journey. Starting with STRIVE, budding entrepreneurs gain the foundational mindset and skills necessary for imagining their startup quest. They then move on to Jam, an ideathon where they can find like-minded team members and identify impactful problems/solutions that can be shaped into a business startup. Finally, the most promising teams advance to the EPIC Incubation Program, where they receive intensive support to validate their ideas, build prototypes, and prepare for market entry.

This approach has proven to be highly effective, with a significant percentage of Incubation Program participants emerging from STRIVE and Jam. Entrepreneurs are welcome to join any of these programs at any stage of their entrepreneurial journey, and affiliation with AUA is not mandatory for participation. By offering this flexible approach, EPIC ensures that all participants, whether they are just starting or ready to validate their ideas, receive the guidance and resources they need to succeed. By nurturing startups from the ground up, EPIC is not only improving the quality of ideas and teams, but also contributing to the overall growth of Armenia’s entrepreneurial ecosystem.

Highlights From EPIC Jam’s 48-Hour Ideathon

On September 7-8, EPIC hosted another successful edition of Jam, a 48-hour ideathon that brings together innovative minds to tackle real-world challenges. This year, the competition for entry was fiercer than ever, with over 120 applications, making the selection process highly competitive. Ultimately, only the most promising 40 applicants were chosen.

Throughout the weekend, participants formed teams, brainstormed solutions, and refined their ideas with the help of coaches and mentorship sessions with seasoned entrepreneurs. The event culminated in a pitching session, where teams presented their startup concepts to a panel of judges. 

EPIC Assistant Director Nejdeh Hovanessian articulated the purpose of this program: “This ideathon aims to address two key challenges in the Armenian startup ecosystem. First, by offering partially validated problems, Jam helps prevent the waste of resources on recurring or already solved issues. Second, it promotes the creation of well-balanced teams by bringing together individuals from diverse backgrounds and disciplines.”

First place was awarded to Doggo, which stood out for addressing the challenges faced by dog owners in Armenia. Doggo offers an app that connects pet owners with essential services and keeps them updated on all dog-related topics, including responsible breeding, dog-friendly places, and trusted services.

Second place went to NewLands, a web platform that tackles the challenges of migrant integration. The platform offers solutions to various integration issues frequently faced by migrant workers who are new to Armenia, such as connecting users with reliable employers, providing legal guidance, and offering health insurance assistance.

Third place was claimed by Nowas, which focused on the issue of surplus food waste during catered events. Their solution is an app/service that collects surplus food from events and restaurants, repurposing it into fertilizers and biogas energy.

The winning teams received prizes, which included the best industry books for entrepreneurs, gift cards, and an exclusive invitation to participate in the Incubation Program selection pitching sessions, bypassing the initial application and interview stages. The latter gives them a significant advantage in the highly competitive Incubation Program selection process.

An Overview of EPIC’s Incubation Program

The EPIC Incubation Program is now accepting applications for its Fall 2024 batch, offering a 15-week Program designed to accelerate the development of early-stage startups. As a cornerstone of EPIC’s mission to nurture and empower entrepreneurs, Incubation provides participants with the essential tools, resources, and guidance needed to bring their innovative ideas to market.

“The EPIC Incubation Program is proudly offering its services to startups for the 15th time. We have refined and improved Incubation so much that it is a completely advanced version of the one we started with. We now offer extensive resources for startups to build their ventures and significantly cut down on the time it takes them to do all of that by themselves. Most importantly, EPIC provides an entrepreneurial environment where we build a community of founders, mentors, advisors, and startup enthusiasts who come together and support each other,” explained Anna Khachatryan, Incubation Program lead.

Since its establishment, the EPIC Incubation Program has supported over 130 startups and more than 320 budding entrepreneurs. The Program is open to AUA students, alumni, faculty, and staff, as well as entrepreneurs from outside the University, making it accessible to anyone with a promising startup idea and the determination to succeed.

One of the key benefits of the EPIC Incubation Program is the personalized mentorship offered to each team. Experienced mentors, both local and from overseas, provide invaluable insights and feedback, helping teams navigate the challenges of startup development. In addition to mentorship, the Program includes comprehensive workshops and sessions held three times per week, focusing on critical topics such as customer discovery, business model validation, and pitch preparation.

Participants also benefit from legal and advisory support, including pro bono legal consultancy provided by the AUA Technology and Innovation Legal Clinic, as well as access to a vast network of business and tech advisors. EPIC further enhances the experience by facilitating introductions to investors, angels, and venture capitalists, opening doors to potential funding opportunities.

Teams enjoy access to EPIC facilities, creating the ideal environment for incubation and collaboration. Additionally, the top startups have the opportunity to compete for non-dilutive funding during the annual Demo Day, further incentivizing excellence. Entry to the EPIC Incubation Program is extremely competitive, involving a thorough selection process that includes application screening, an interview with the EPIC Team, and a pitching session where independent judges select candidates for the Program from the shortlisted applicants.

What to Expect From the STRIVE Program

The STRIVE Program, a one-of-a-kind pre-incubation initiative within Armenia’s startup ecosystem, is now accepting applications for its upcoming cohort. This innovative 10-week Program is designed to engage aspiring individuals from diverse backgrounds, regardless of prior experience or the existence of a startup idea. STRIVE’s primary goal is to shape participants’ entrepreneurial mindset by exploring, analyzing, and testing the core concepts of entrepreneurship and innovation.

Drawing from the successful Ice House Entrepreneurship program by the Entrepreneurial Learning Initiative in the United States, STRIVE utilizes an experiential, problem-based methodology. Participants are encouraged to apply what they learn in real-world, resource-constrained environments, fostering the development of entrepreneurial attitudes, behaviors, and skills. The program includes a series of interactive lectures, meetups, and workshops aimed at inspiring a new way of thinking — one that ignites imagination, ambition, and the habits necessary for long-term success.

“What sets STRIVE apart is how it guides people with no prior experience into entrepreneurship, helping them shift their mindset, think creatively, and tackle challenges effectively. Our team is proud of the strong community the Program has managed to cultivate and the continued inspiration it fosters,” shared STRIVE Program Lead Sona Martirossian.

The application deadline for the STRIVE Program is September 31. STRIVE complements EPIC’s other initiatives, such as Jam and the Incubation Program, by preparing participants to take their entrepreneurial journey to the next level. 

EPIC’s suite of programs — Incubation, STRIVE, and Jam — play an important role in shaping the early stages of Armenia’s entrepreneurial ecosystem. By providing tailored support, practical experience, and access to a vast network of mentors, advisors, and investors, these programs are helping build a strong foundation for the next generation of Armenian startups.

For those with a well-formed startup idea and a team ready to take on the challenge, the EPIC Incubation Program offers an ideal platform to validate a business idea, develop a robust business model, and gain the necessary skills to thrive. The deadline to apply for the Incubation Program is September 15.

The STRIVE Program is the perfect starting point for those at the beginning of their entrepreneurial journey, still exploring ideas, or looking to cultivate an entrepreneurial mindset. With its focus on experiential learning and foundational concepts, STRIVE will equip participants with the tools necessary to identify and evaluate opportunities in the real world. Applications for STRIVE are open until September 31.

To apply or learn more, visit the EPIC website or contact the Center directly at [email protected]. Whether building a startup from scratch or just exploring entrepreneurship, EPIC has a program designed to support aspiring entrepreneurs on their journeys. 

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.