Armenians will soon be able to raise funds for specific projects through a crowdfunding platform. It is planned to introduce the concept of such a platform in the country already in April-May 2017, crowdfunding specialist and co-founder of the Crodfunding Formule website Narek Vardanyan told Armenian News – NEWS.am.

“Crowdfunding is an international concept used throughout the world via internet platforms, which makes it possible to raise nearly $30-35 billion USD annually. Our activity is aimed at helping different companies and persons from more than 50 countries, who present interesting projects. We help them receive funding and get attention,” he said.

Asked whether such an initiative will gain a widespread acceptance in Armenia, Narek Vardanyan noted that it is funded by ordinary people, who take interest in a specific idea: These are not large investors, who will most likely get frightened of possible risks and large investments in Armenia. He also stressed that unlike business projects, presenting ideas in crowdfunding is much cheaper and enables to quickly understand whether you like the idea or not. 

“Many famous companies also take part in Crowdfunding, most often under false names. They present their new products and watch people’s reaction. Sony and Warner Brothers are also among them”, Vardanyan added.

In his words, the initiative will enable many people to realize their ideas. He himself already has several promising projects in view.  One of them is the concept of smart wallet, which was presented by a young man from Armenia. The wallet will have a location transmitter to be used in case of a loss, a camera to be used in case of being stolen, as well as a capacity to charge a phone and several other useful functions. The idea was born when a child hid the wallet behind a radiator and his family members couldn’t find it.  The project is unprecedented and very attractive, Vardanyan stressed.

Referring to the most absurd project, which has gained international recognition via crowdfunding, Narek noted Potato salad. It was initially planned to be a joke:  Zack Danger Brown decided to make a salad from potato and posted the idea as a project in the platform Kickstarter. The young man offered the same salad as a gift for his “investors.” Consequently, ha managed to raise $80,000 USD. “You see, nothing is impossible, the most important thing is the initiative,” Vardanyan concluded.