When launching any new initiative, the hardest part is getting started, turning an idea from zero to one. It’s one of the main problems facing fresh start-ups, and many fail before getting past this hurdle.
According to a study authored by the European Association of Business Angels, some 137,000 new projects are created each day across the globe. Out of those, 9 out of 10 fail in 1-3 years — the reasons range from weak team structure to lack of vision and a poor grasp of the market.
The Foundation for Armenian Science and Technology (FAST) has launched various initiatives to guarantee viability, establish networks and ensure the success and longevity of Armenian startups. And in the midst of it all is a key member of the FAST team, their innovation analyst Anna, one of our very first TUMOians.
Let’s hear from Anna herself: “As part of the innovation team, we’re working with startup teams and individuals alike, planning and implementing entrepreneurship projects. These provide an opportunity for professional networking, gaining new knowledge, and helping raise financial backing.”
Anna’s been immersed in Armenia’s startup scene for four years now, having met some promising startups and following up with their growth and development.
“It’s inspiring that someone with an idea, regardless of the difficulties that arise, won’t stop until they’ve achieved it.”
One such project that Anna has been able to shepherd along was the recently wrapped M1TQ incubation program launched as part of the DigiTown project in cooperation with FAST.
“This program aims to encourage entrepreneurship among young people, providing opportunities for them to turn their business ideas into reality. With eight startups participating, they went through training and practical exercises, each with their own assigned mentors. They were even introduced to potential investors.
That’s Anna at 14, back when she first joined TUMO and launched her learning journey where she was introduced to concepts that would have otherwise passed her by.
“I was interested in web development and filmmaking. With the former, I know I’d need to use it eventually. As for filmmaking, my curiosity was enough. And now, watching a movie isn’t enough. I break down what I see, applying the film know-how I gained at TUMO.”
Fact or Fiction?
“I don’t know if this was true or not. When we were doing self-learning activities, there was a competition to see who’d collect the most points. And whoever did could go up to the second floor, which wasn’t allowed for students back then.”
Well, Anna. It was true. Don’t believe us? We’ve got Hovik Tamazyan as a witness.