Is it possible to attract investments in Armenia through crowdfunding?

May 20, 2024  19:35

I think "popular financing" is probably the best translation of "crowdfunding", or "collective financing". The nature is that a large number of people finance some interesting project with small amounts.

There are different types of crowdfunding. There is crowdfunding, which is an investment, there is crowdfunding, which is a direct donation, and there is crowdfunding, which is a pre-sale, that is, you give money to get some product later.

The largest amount collected by crowdfunding in our company was more than 5 million dollars. It was a mask that can eliminate bacteria and viruses.

I am a superbacker myself. These are people who buy a lot of different things. I helped and donated a lot of products. The last funny product I bought is a small spinning top that never falls off and can spin for six hours.

I bought an interesting book through crowdfunding, which, I hope, is not so topical, but the point is how to start civilization again when everything is gone. He described from scratch how to create electricity, how to start wine production, etc.

It can be said that the culture of crowdfunding has not been formed in Armenia yet, but we hope that it will be formed, because it is not only an investment, it is a form of cooperation where you help some people to implement their projects.

Nothing works by accident. Campaigns that are hugely successful, raising millions of dollars, are not the result of chance at all. You can see a pillow that raised 3 million dollars and say, I can do the same thing. But there are many works behind it, which are not visible at first glance.

You can make that pillow, the design is yellow, and the volume of the speakers that tell fairy tales is very loud. Change the color to white, and it turns out that white itself was a very good idea.

We are several steps ahead of almost all companies in this field. Today, we have raised Armenia to the positions where that calculation starts with Armenia. In other words, there is an Armenian company, then there are American, Israeli and other companies.

Now we have started a campaign, a ring with artificial intelligence, to which you can give instructions and hear answers without taking out the phone. Now those rings are developing quite quickly. Next year we will see many multi-functional rings.

The Eiffel Tower is also a result of crowdfunding. They sold vouchers for finance, did a pre-sale, and those who gave that money got the opportunity to be the first to climb that tower. And part of the financing was from the people.

I would choose some standard means of barter, for example, oranges. But I think, as a result, I would probably have found the money, if there was no money at that time, because it would definitely not be convenient to collect so many oranges. I would be the one to invent money.

Narek Vardanyan

CEO of, Co-Founder and CEO at The Crowdfunding Formula (TCF).

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