• Idea stage: In this first stage, the idea for your startup must present a real value, should clearly identify your concept and aim – as a result of careful audience and competitor research. You should distinguish why people need you. This is also the stage where your goal is to gather a team of people who are as enthusiastic and ambitious as yourself, and who are ready to ensure growth for your startup. 
• Looking for development: This stage is for the time you can spend in pursuit of best pre-acceleration and acceleration programs created for startups which will help you to grow, if you’re doing this for the first time. Those programs usually provide startuppers with mentorship, financial support, networking opportunities, access to accelerators and customer development. 
• Taking action: The stage when your idea should materialize in the form of a startup by creating a Minimum Viable Product. Your innovative idea is not enough for a successful project, you need lots of feedback from the ones you’re going to create a final product for in the future. And to get feedback, you need to first spread awareness about your brand. Like it is accepted to say – there should be minimum effort and maximum feedback, after which you can really assess it and work on your product.
• Seed stage: After you’ve gone through the steps above, it’s time for the seed funding. This is when your startup needs support from large companies, as well as individuals who are willing to provide funding, such as angel investors.

These are the main cornerstones on which startups are based. 

The Key Elements Of The Armenian Startup Ecosystem

The Armenian startup ecosystem has all the preconditions for a startup to transform smoothly from start to finish. Everyone is motivated to create something new and innovative for the country, and the components for the creation are being set up. There are some details that help us notice that dynamic:

• The government has its special investment in its mission to support entrepreneurship by giving tech startups tax incentives (0% income tax, 10% flat payroll tax).
• During the past few years, many organizations and foundations, such as Startup Armenia Foundation, created an atmosphere to support local startups by organizing events, programs, mentorships, funding, and whatnot.
• This ecosystem has grown generation by generation, laying the foundations for the launch of multiple in-demand and present-day powerful startup companies.