FAQs

Entrepreneurship World Cup Armenia 2021 – FAQs


Frequently asked questions about the EWC National Finals 

When is the deadline for EWC Armenia?

The deadline is June 6, 2021.

When and where will the EWC National Finals take place?

The EWC National Finals will take place in July 2021 in Yerevan, Armenia.

How do I apply?

All the applications should be submitted through the EWC global platform.  https://platform.entrepreneurshipworldcup.com/display/AN/EWC+SignUp

How are the winners selected in the EWC National Finals?

All the pitches will be judged by local and international jury members during the National Finals and the winners will be announced on the same day of the competition.

What are the prizes at the EWC National Finals?

Will be announced soon.  

Which winner is the EWC Global Finalist from Armenia?

There could be only one representative from Armenia in the EWC Global Finals. The National Entrepreneurship Cup Winner will be selected as the Global Finalist from Armenia.

How do I get selected to participate in the Global Finals?

After the National competitions, national winners are selected as Global Finalists. The EWC 100 (100 top startups) will be announced to pitch at Global Finals. The Global Selection Committee will determine the EWC 100. Being a national winner does NOT guarantee pitching at the Global Finals. 

What is the criteria for selecting the EWC 100?

The Global Finalists will be scored and ranked by the Global Selection Committee on a variety of variables including:

  • Pitch Deck and/or Video Pitch
  • Due Diligence
  • Quality of Accelerates 2 deliverables
  • Feedback from Mentors

Is there a minimum age to participate?

Team members must be 18 years old except if applying to the Idea Stage category. There is no age restriction for the Idea Stage category.

Can anyone apply to participate in EWC 2021?

The Entrepreneurship World Cup is focused on startups and scale-ups in the first seven (7) years of existence.

Can founders with multiple companies, some existing longer than 7 years participate in the EWC 2021?

Founders of multiple companies including ones older than 7 years may participate if one active company that is less than 7 years old.

Does my startup need to be registered in Armenia?

Yes, applicant(s) must be legally registered or planning to register in their country of residence. The National Finalist should be registered to be introduced for the EWC Global Finals.

What stage does the startup need to be at to apply?

Idea Stage:

  • Building a team and initial product/prototype
  • Does not have a Minimum Viable Product (MVP), and
  • Does not have any revenue, and
  • Raising funds to develop an idea, product or concept

Early-Stage:

  • Building a product, establishing product-market fit and early revenue
  • Has a Minimum Viable Product (MVP), and 
  • Has not raised Post Series A, or
  • Initially commercializing their product/service in one or more target markets, and 
  • Successfully incorporated/registered their venture 

Growth Stage:

  • Scaling customer acquisition and revenue
  • Has raised Post Series A, or
  • Generating recurring revenues (for the past 3 years) and experiencing solid growth, and
  • Showing clear, growing and measurable user / market traction in a large or rapidly expanding market

What are the EWC Accelerate phases?

EWC Accelerate is a set of resources, activities, learning & mentoring to help sharpen skills & abilities in preparation for competition. 

Accelerate 1 – February through June

  • A collection of educational curriculum and training opportunities is made available online to prepare Participating Teams to compete in the EWC Competitions around the world.
  • While participation in Accelerate 1 is not a mandatory requirement in countries where there is a National Final for judging and assessment, it is highly encouraged for all entrants.

Accelerate 2 – August through September

  • Applicants selected by their National Organizers to represent their country are invited to register for Accelerate 2 in order to improve their chances of being selected as part of the EWC 100 that will compete at the Global Finals.
  • Accelerate 2 will be available from August through September 2020, with early winners joining early cohorts.
  • Accelerate 2 is mandatory for all Idea Stage Applicants and optional for all Early and Growth Stage Applicants.

What are the Perk and Services benefits of applying to the Entrepreneurship World Cup (EWC)?

As startups complete their application, they will unlock GSVlabs perks & services worth up to $25,000.

 

 

 

 

Frequently asked questions about the EWC Global Finals

Is participation in Accelerate 2 mandatory?

Accelerate 2 is required for all Idea Stage startups & is not mandatory for Early & Growth stage national winners (though highly advisable.)

When and where will the EWC Global Finals take place?

The EWC Global Finals will take place in November 2021, in Riyadh, Saudi Arabia.

When is the EWC Bootcamp?

King Abdullah University of Science and Technology (KAUST) will host EWC Bootcamp for EWC 100 finalists immediately prior to Global Finals.

If selected, how many representatives per startup are invited to the EWC Global Finals?

All EWC 100 finalists will receive a full travel scholarship for one team member to participate in the Global Finals and pre-finals EWC Bootcamp at KAUST.  It includes: a round-trip flight ticket, visa, hotel accommodation, meals, and local transportation. Additional team members can register to attend at their own cost.

When will the EWC 100 (top 100 startups) be announced?

EWC 100 will be announced in September 2021.

What are the EWC 2021 Service Awards for Global Finalists?

The remaining Global Finalists (Not Top 100) will receive an in-kind service package valued at $100,000

What are the EWC 2021 Service Awards for EWC 100 Finalists (top 100 startups globally)?

All EWC 100 finalists will receive in-kind services valued at $850,000 each.

What are the top 3 competition prizes at the Global Finals?

Grand Prize Champion: $500,000. 2nd Place Winner: $250,000. 3rd Place Winner: $100,000.

In addition to the top 3 prizes from any stage, what separate prizes will be awarded to the top scoring team from each stage that did not receive one of the top 3 prizes?

3 Stage Champions: Idea Stage: $50,000. Early Stage: $50,000. Growth Stage: $50,000. Special Prize for Social Enterprise: $50,000.

Frequently asked questions about the benefits of applying to the Entrepreneurship World Cup

What are the Perk and Services benefits of applying to the Entrepreneurship World Cup (EWC)?

As startups complete their application and go through the Accelerate program they will unlock GSVlabs perks & services worth up to $25,000.

Are there additional expansion benefits of applying to the Entrepreneurship World Cup (EWC)?

In addition to new markets, finalists’ special opportunities may include access to facilities, innovation hubs, support services & more.

What are the cash and in-kind prize benefits of applying to the Entrepreneurship World Cup (EWC)?

Top global startups have the chance to win prize packages totalling more than US$70 million of in-kind services & more than US$1 million in cash.

What are the Investor & Capital benefits of applying to the Entrepreneurship World Cup (EWC)?

Global Finalists get connected to a wide array of investors from all parts of the world. Winners may even receive significant investment.

What are the market benefits of applying to the Entrepreneurship World Cup (EWC)?

Global Finalists will gain opportunities & prizes that can help them expand into markets such as China, India, Middle East & Europe.

What are the knowledge and network benefits of applying to the Entrepreneurship World Cup (EWC)?

Access to: EWC Accelerate, resources & content on the EWC platform. Global Finalists join GEN Starters Club & EWC Platform’s global network for 1 year.