On September 13, Blockchain Embassy of Armenia hosted a press conference regarding the competition of the “From Idea to Business” grant program with the “Market Access” component, which will be held this year in collaboration with Fast Media and Bahamut Foundation.
Among the panelists were the deputy minister of the Ministry of High-Tech Industry of Armenia Ruben Simonyan, the CEO at Fast Media Margarita Grigoryan, as well as Bahamut Foundation board member Aram Jivanyan.
Those projects that passed the preliminary stage of the competition will be discussed by the jury, followed by the stage of defining the winners. The startup projects with interesting ideas and a desire to start their business in Web3 and IT spheres are welcome to apply. Apart from funding the grant program, Bahamut Foundation, in turn, will provide an FTN investment fund equivalent to 50 million AMD to the winning companies.
During the press conference, the deputy minister of the Ministry of High-Tech Industry of Armenia Ruben Simonyan presented the application stages of the grants program, the budget and the opportunities of participation. Mr Simonyan noted that a total of 290 million AMD will be distributed during the competition, allocated between the winning companies, up to 10 million AMD each.
Speaking of the unique features of the television broadcast of the program, Fast Media’s CEO Margarita Grigoryan mentioned that they are planning to film 12 episodes to present the remarkable and interesting scenes left out of the frame. “We will carry out detailed work with each participant so everyone will be presented in the best way possible”, she noted.
In the context of development and distribution of Web3 technologies, Bahamut Foundation board member Aram Jivanyan focused on the grants program, emphasizing the wide opportunities it provides for newly-emerging projects in the industry. This collaboration with the Ministry of High-Tech Industry Armenia makes a solid ground for developing a new culture in the Web3 industry, fostering new partnerships and possibilities to locate programs worthy of investment.
About Bahamut Foundation
Bahamut Foundation stays at the forefront of innovation, offering support and funding to projects that foster advancements in the field, generate value for the blockchain ecosystem, and bring new users into the world of Web3. It lays the foundation for future generations to learn and build upon.
About Fastex
Fastex is the all-encompassing ecosystem that redefines the Web3 experience. Fastex stands at the forefront of blockchain and AI technology, seamlessly blending vast opportunities within a unified and user-friendly environment, such as Fastex Exchange, Fastex Card, Fastex Wallet and the e-commerce platform - ftNFT Marketplace with phygital spaces. Fastex distinguishes itself by prioritizing regulatory compliance, ensuring a secure and reliable experience for all users in the evolving landscape of Web3.