Business Angel Network of Armenia Selects Residents for SAP Startup Factory

07 October, 2021

SAP Startup Factory by BANA (Business Angel Network of Armenia) announced today, the selection of startups for the acceleration program. The 10 B2B teams are now a part of a 16-week acceleration program with an outstanding opportunity to integrate with the German software giant – SAP.

As the world’s largest provider of enterprise application software, SAP has 440,000 customers, and $150B+ valuation. SAP has invested in 110 tech startups, and acquired over 70 startups.

The application period lasted from July 5th to July 25th, during which 51 applications were received. The applicants’ industries included hospitality, banking, retail, agribusiness, healthcare, fashion, telecommunications, media, education, etc.

The selection of the participants was determined by Roman Gumenyuk (Co-Innovation Architect at Global SAP Co-Innovation Lab Network), Andrey Yakimov (Chief Technology Officer at SAP CIS), Inbar Yacoby (Program Manager at SAP.iO Foundry Tel Aviv), Karen Vardanyan (Fund Manager at Sprint Crowdfunders’ Fund, Partner at Formula VC), Grigor Hovhannisyan (Director at BANA – Business Angel Network of Armenia, Partner at Formula VC), Nikita Razhev (Senior Business Development Manager at SAP) and Steven Tong (Head at SAP.iO Foundry Singapore).