Over 100 Armenian startups had submitted applications to compete in the Armenian National Finals of the Entrepreneurship World Cup (EWC) Armenia 2021 on July 24. Of those, ninety-two startup teams were admitted to enter the national competition initial judgment phase and the remaining applicants were eliminated due to incomplete applications.

The Entrepreneurship and Product Innovation Center (EPIC) of the American University of Armenia (AUA) has announced that 51% of the participating teams are in the Idea Stage, 40% are at the Early Stage, and 9% are in the Growth Stage.

The main verticals that are represented for the competing teams are Big Data/AI, Mobile, SAAS/Enterprise Software, and Health and Wellness.

“The Entrepreneurship World Cup 2021 organizing committee is overwhelmed by the number and quality of applicant startups. Armenia is living challenging times, but our rising generation is providing a beacon of hope and inspiration for the future. The entrepreneurial mindset creates the power and courage to challenge the status quo. From the moment a startup idea comes into being, it’s an attempt to create change and innovation in the face of adversity and often against long odds,” states Professor Michael Kouchakdjian, Director of EPIC.

The first step in the process is for teams of independent judges to assess the participating ventures, and select the national semi-finalists. From this pool, the best 10-12 startups will be determined to participate in the National Finals.

They will compete for four prizes: Idea Stage, Early Stage, Growth Stage, and National Finals prizes. The overall National Finals Grand champion will have the chance to represent Armenia in the EWC 2021 Global Finals that will take place in November, in Riyadh, Saudi Arabia.

To this date, of the 158 participating countries, Armenia is ranked in the top 20 by the level of registrations and team activity alongside such countries as India, the United States, Singapore, and South Africa.