2016 has been an incredible year for Armenian Startups. We are excited for 2017 as startups in Virtual Reality, Artificial Intelligence, and Machine Learning are taking off. Here are the ones we’re keeping a close eye on in 2017:
- Collectly - is a web app that helps businesses maximize debt recovery while retaining the customers by using AI. Basically, it's API for debt collection. Instead of hard coded scripts to process the debts it build real-time changing collection workflow for every debtor, uses new digital communication channels, and provides the debtors with the instant resolutions of the conflict. Everything is done fully automatically and this allows to increase the recovery up to 60%. The founder of the company is a Moscow born Armenian - Levon Brutyan. The data science team and core software engineers will be based in Yerevan, Armenia.
- Stateless - provides a software-based networking solution that enables automated provisioning, monitoring, and management of virtualized network functions (e.g., firewalls, network address translation, and load balancers). They provide these on-demand “as-a-Service”, eliminating the need to acquire, install, and maintain specialized hardware from companies such as Cisco. To date, they have performed intensive market validation (130 customer interviews), received strategic angel investment from a former CIO and will be participating in the Techstars program in Boulder, Colorado and recently have two pilot trial installations agreed for Q1 of 2017.
The founding team consists of Murad Kablan, an expert and PhD in software-based networks, Nigel Sharp, an experienced entrepreneur who has built and managed datacenters, and Eric Keller a Professor in the field of software-defined networking and virtualization. Nigel Sharp is a British Armenian Entrepreneur, A Birthright Armenia alumni, the first IT and Technical Project Manager at the Tumo Center for Creative Technologies in Yerevan, and the CEO and Co-Founder of Lionsharp Innovations, the creators of Voiceboard.
- Skycryptor - is a cyber security startup based in Yerevan. With their new product be safe they are enabling secure file sharing and collaboration over modern cloud applications such as Slack or Dropbox or Gmail without disabling the interoperability of these cloud services. It is first secure file sharing solution integrated with Slack.
Current key management technologies (such as PGP, S/MIME) has been designed yet in pre-cloud and pre-social era. With their patent-pending core technology they are re-inventing how the encryption key management should be done in cloud.
- Abaka - helps consumers take control of their healthcare expenses. When consumers receive bills from healthcare providers, they have no visibility into expected out of pocket costs. As a result, they are ill-prepared to handle the financial outlay.
Abaka is aiming to change all of this with a patent pending technology which creates a care pathway for the patient’s entire treatment plan including expected out of pocket costs to cover all Healthcare Encounters. Consumers have full visibility into their treatment plans and costs, and can use Abaka to interact with their healthcare providers including making payments and creating payment plans. This visibility helps avoid bill shock, allows for financial planning to pay bills early and on time. With proactive engagement, providers increase patient satisfaction and reduce bad debt by increasing collections. Abaka also increases patient loyalty and revenues because patients stay in the provider’s network for all necessary care needs. Arman’s previous startup that was acquired by EPAM (NYSE) had an office in Yerevan for product development. He is building a product team in Yerevan for the new venture.
- AlgoLIFT - provides mobile and e-commerce companies with highly accurate predictive tools to maximize customer experience and optimize acquisition spend. The predictive algorithms AlgoLIFT has developed can project future customer monetization, acquisition channel value, and customer churn at incredibly accurate rates. These tools do all the computational heavy lifting so marketers and product owners can go back to focusing on what's important - their customers.
AlgoLIFT CEO, Andre Tutundjian most recently traveled to Yerevan in 2012 where he was impressed by the intellectual desire and technological skill many of his new acquaintances. It has always been his dream to help empower the Armenian community and economy through technology and has used remote developers from Yerevan and Gyumri for additional support on many of his projects.
- Inapptics - is an AI-powered mobile analytics platform that helps app creators increase the profitability and efficiency of their apps through advanced analysis of user behavior mixed with proactive insights.
The team behind Inapptics is currently based in Armenia and the US. Before starting Inapptics, the team has worked together for more than 5 years on mobile projects and platforms for Fortune 1000 companies in the USA and Europe.