The program aims to make investments in innovative projects or companies for their establishment, support, and expansion.
Individuals and companies may participate if their proposed product, service idea, prototype, or already existing product in the market is aimed at creating new value, addressing current socio-economic challenges in our society, and advancing the STEM fields (Science, Technology, Engineering, and Mathematics).
Projects that involve SASTIC’s beneficiaries (war veterans and their family members) will receive higher priority for support.
Phases of Program Implementation:
- Application
- Project Selection
- Technical Feasibility Review
- Business Feasibility Review
- Negotiations and Contract Signing
- Project Implementation / Rejection
Application
To participate in the program, it is necessary to submit an application and fill out the questionnaire.
The preferred languages for completing the questionnaire are Armenian or English. Applicants, if desired or needed, will receive assistance from a SASTIC working group representative.
For questions or help with the questionnaire, you can contact:
📧 info@sastic.org
Project Selection
At this stage, applications submitted by participants will be evaluated by the working group based on predefined criteria.
Depending on the results, the working group will decide which applicants will proceed to the next stage.
Selected applicants will be invited to meet with SASTIC’s working group and present their project.
Technical Feasibility Review
At this stage, applicants will meet with SASTIC’s working group.
- Duration: 90 minutes.
- Applicants will present their project verbally (10–25 minutes).
- Afterward, they will answer questions from the working group.
- Participation of the founders is required.
Before moving to the next phase, details of the project’s technical feasibility will be clarified.
Applicants will receive continuous support from a SASTIC representative.
At the end of this phase, a decision will be made on whether the project advances to the next stage.
Business Feasibility Review
At this stage, SASTIC’s working group will assess the practical implementation of the project based on budget, timeline, and team capacity.
Applicants must present the company’s legal and financial documents.
With the support of a SASTIC representative, applicants will prepare the business plan of the project.
Applicants will continue receiving ongoing support during this phase.
At the end of the business feasibility review, a decision will be made on whether the project proceeds to the next stage.
The amount of investment for each initiative will be determined after this phase, based on the budget requirements outlined in the initial application.
Negotiations and Contract Signing
At this stage, SASTIC’s working group will collaborate with applicants on legal and financial matters and proceed with contract signing.
Project Implementation / Rejection
At this stage, SASTIC will either:
- Work with the applicant on the implementation of the project, or
- Notify the applicant of the decision to reject the project.
