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Startup Armenia Foundation is going to expand the geography of Sevan Startup Summit. It is planned to organize the event in the different countries of the world, in the cities that are located near the beaches. That is the reason why the event is renamed as Seaside Startup Summit.

Hakob Hakobyan, the founder of Startup Armenia Foundation, Hisham M. H. Safadi, CEO and Founder at RAK Incubation and accelerator and representatives of RAK Department of Economic Development Sheikh Mohammed bin Kayed Al Qasimi and Dr. Abdulrahman Al-Shayeb Al-Naqbi, today has signed a memorandum of understanding, the foundation reported.

Due to this memorandum, the sides will contribute to the development and establishment of startup ecosystem in both Armenia and UAE. The memorandum was signed during the Startup Weekend RAK, which is also a sign of cooperation. Startup Armenia Foundation is among the partners of that event.

The two sides came to an agreement to held the Seaside Startup Summit in the United Arab Emirates in the beginning of 2018. It is planned to make the UAE one of the main places for the event organization.

“The fact that Sevan Startup Summit is going global is not only the achievement of Startup Armenia Foundation and our partners but also the whole Armenian startup ecosystem. Next year we are planning to organize the event in many other locations. We hope that this will stimulate the development of both Armenian and UAE startup ecosystem cooperation,” said Startup Armenia Foundation founder Hakob Hakobyan.

To note, Sevan Startup Summit for the first time was organized in the summer of 2016 at Sevan Lake area. The Summit has become one of the main events for the Armenian startup ecosystem. In 2017 the Sevan Startup Summit has already been enlarged. The Summit hosted over 2000 participants and guests both from Armenia and 23 other countries. The prize fund exceeded $50,000. The spending for organizing and holding the summit reached $250,000.