Around 470 participants, 120 teams from Armenia, and nearly 25 countries from around the world settled into tents for 7 days of enhanced educational programs and recreational activities. The shore of Lake Sevan once again became the place for rendezvous for startups, technology peers and investors. The Sevan Startup Summit, with Shtigen Group as Sustainable Partner, served as the occasion for these diverse groups to come together.

Solar devices needed for hiking, a photo exhibition, a “solar” cycling race to Artsakh and an electric car, a game-changer in style and quality of life. Shtigen’s multi-content pavilion, equipped with a solar power unit, a water heater and everything needed for energy autonomy, was a true hub for modern technological solutions.

The pavilion encompassed a B2B zone for meetings, areas to learn more about solar technologies, solar water heaters used to make Armenian mountain tea, cold water to quench their thirsts in the blistering Sevan sun and a recreational area to charge phones and other devices.

Our thoughts, Actions and Reflection are with Artsakh

“Sunrise in Artsakh” Shtigen’s group’s flagship Corporate National Responsibility project took pride of place at the Sevan Startup Summit’s pavilion. The project implementation first kicked off with the opening of Shtigen’s Artsakh office in Stepanakert following the 44-day war and in April 2022, the project was launched targeted at the establishment of energy independence in Artsakh using solar technologies.

Visitors and participants had to opportunity to see the solutions offered to overcome the energy crisis in the second Armenian Republic.

By participating in the “solar cycling race” symbolizing the project objective, the cyclists saw the mechanical energy convert into electrical, and the sun rise with light effects on the screen.

The visitors also had the opportunity to make a donation via Telcell on the spot to ensure a neverending sunrise in Artsakh.

“We pride ourselves on being a company which cares deeply about national issues, and our participation at the Sevan Startup Summit was a clear reflection of that. For us, business is more than just profit; it is a phenomenon driven by quality, responsibility and values. As such, we have set ourselves the mission of conveying this very message to our partners as well: instead of merely selling products, let’s come together, harness our collective capabilities and create a value that elevates the reputation of Armenian business to the highest international benchmark,” stated Hayk Shekyan, Founder Director of Shtigen Group.

A memorandum which further strengthens the years long relationship between the Sevan Startup Summit and the Shtigen Group

We can already mark July 25 in red in the #SSS calendar. A Memorandum of Cooperation was signed between Shtigen Ventures and Triple S Ventures aimed at expanding the cooperation by combining the potential and the values of the two companies.


“This MoU gives us the opportunity to intertwine business ideas, and through this consolidation of potential, expertise and competences of both investment companies in various fields, we are genuinely empowered to create greater and more lasting values, both in terms of the development of the Armenian economy, and its competitiveness around the world,” said Hakob Khotsanyan, the Director of Shtigen Ventures.


The Neta electric car on the shore of the Sevan and on the road

The exclusive official representative of the NETA brand in Armenia, Andron, a Shtigen Group member, was also represented at the SSS. Incidentally, Andron was named in honor of the famous Artsakh scientist Andranik (Andronik) Iosifyan, whose contribution to the electrification processes in the USSR was immense. Neta, a modern electric car furnished with rich innovative technology, and carrying a guarantee of reliability, was displayed on the shores of lake Sevan. Armen Melyan, director of 𝐀𝐧𝐝𝐫𝐨𝐧, believes that the Sevan Startup Summit was a great opportunity to present one of the innovative company’s proposals to young startups: the 100% electric Neta car.

“This electric car stirred a great deal of interest specifically among those who understood the significance of an official warranty and maintenance. Many wanted to experience the speed, right on the shores of Lake Sevan and registered for test drives. Andron had everything pre-planned in terms of combining the useful with the pleasant, focusing on the added value that Andron brought together not just buyers, but rather advocates of the same idea, who knew they could rely on us,” says Armen Melyan.

In addition, many quenched their thirst for cold water or hot coffee using the water dispenser connected to the car battery.

The Sevan Startup Summit a great place to meet and chat

The SSS was not merely a conference or a competition. It was first and foremost a learning experience. During the mentoring session, the participating startupers had the opportunity to present their innovative ideas to Hayk Shekyan, the Founding Director of Shtigen Group, Hakob Khotsanyan, the Director of Shtigen Ventures, and Tigran Sukiasyan, the Strategic Consultant of Shtigen Ventures. They were full of questions for the participants along with advice, and solutions. This is a platform where ideas are developed, and become business plans, but before any of that can happen, one must learn.

Innovation only happens when likeminded people meet

Traditional conversations around the campfire are the most anticipated part of the Sevan Startup Summit. Shtigen Group Director Hayk Shekyan shared his success story and experiences, discussed the participants’ startup ideas and gave advice on how to get the most out of issues, develop their startups and turn them into a profitable business.

Hayk Shekyan noted that SSS was not just a party, but rather an event with a specific goal and audience. “People have come here to work, learn, listen to each other and enrich their knowledge, while keeping Artsakh in their minds, hearts and the focus of their work. We must put in so much effort to be able to create a strong Armenian business community and to obtain a global influence which defies geographical boundaries.”

Shtigen on the jury for the most startup event of the year

Over the course of the event, startupers not only participated in educational programs, listened to experts from around the world, but also competed with each other. Hakob Khotsanyan, Director of Shtigen Ventures, was a member of the jury evaluating the startups at the ideas stage.

The jury selected Remold and out of the 120 participating startups in the idea and rapid growth stage.

 Gagik Margaryan, Director of the Shtigen Group-incorporated Enerex, awarded the first prize to the winner of the idea phase; the Remold team. Enerex operates in the liberalized electricity market as an alternative to the Electric Networks of Armenia offering consumers electricity at a more affordable price.


PS: For Shtigen Group, a Sustainable partner of the SSS, the objectives of SUSTAINABLE DEVELOPMENT are of key importance. In this corporate group people are well aware that the actions taken in one area undoubtedly affect the results of others, therefore, proportional and cooperative development will maintain the balance in social, economic and environmental SUSTAINABILITY.