M1TQ Demo Day marked the conclusion of Digitain’s first incubation program, and three early-stage startups were announced as winners in three different categories.

The program was launched within the scope of the DigiTown project and implemented in collaboration with the Foundation for Armenian Science and Technology (FAST).

Mariam Pashinyan, the Project Manager of the M1TQ incubation program, noticed that the 12 weeks of incubation were full of intensive practical training sessions for startups to ensure their growth and successful launch into the market. She also noted that in the framework of M1TQ, the participating startups received all necessary equipment as well as 24-hour access to Digitain’s offices as a workspace.

“Startups learned to design their prototypes efficiently, improve their business models, and also enhance their pitching skills and create business relationships with potential investors. We will try to boost the visibility of these startups, connect them with investors, and create effective cooperation for them in the future,” concluded Mariam.

The program incorporated 8 startups: Prekog.ai, Armbionics, Rooshe (Stremeal), Payman, Gabby, Axona, and AR Trails, who had the opportunity to present their innovative solutions to venture capitalists, investors, industry leaders, and to the independent jury during the Demo Day. The jury consisted of prominent individuals, including Vahan Hovsepyan, the Advisor to the Minister of High-Tech Industry, Armen Orujyan, the Founding-CEO of FAST, Vardges Vardanyan, the CEO of Digitain, and Rem Darbinyan the Founder of SmartClick.

As a result of the Demo Day, Armbionics received a $10.000 grant while Medea and Prekog.ai $2000 respectively. Moreover, Step Consulting, Orion Worldwide Innovations Armenia, and BAJ Accelerator joined the program to support startups with their special awards!

ArmBionics aims to transcend disabilities and create rehabilitation systems using cutting-edge technology. The startup has successfully designed and tested the prototypes of Myoelectric hand, Mechanical hand, Part-hand controlled with a sensor, and Glove hand. Hopefully, the investment will help them start production within the next 3-6 months.

“M1TQ incubation program was quite distinct from other incubation programs with its program and networking opportunities. These 12 weeks were rich in lectures, as well as separate sessions with coaches, financial and legal representatives, that helped us develop both the business and the technology sides of our product,” said Marina Davtyan, the Co-Founder of ArmBionics.

Medea, one of the other special award winners, is developing healthcare technology solutions, while Prekog.ai is creating an automated cryptocurrency system based on artificial intelligence.

The Marketing Projects Manager of Digitain, Manana Hovakimyan noted, “Digitain considers it its duty to develop the Armenian tech ecosystem for which the DigiTown project is designed and implemented. The first component of the project was the M1TQ incubation program. The second that was newly launched was the DownTown Academy, which provides the opportunity to learn sought-after IT specialties completely free of charge. Moreover, after graduation, the program offers an internship or job opportunity for the best students at Digitain.

The third building of the DigiTown project will be built in the near future, and it will incorporate 50.000 square meters, designed to host around 5,000 people. This building will be home to investment funds, acceleration and incubation programs, and working space will be provided to international companies, startups, etc.