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Establishment of a successful startup requires both passion and relevant knowledge, while the absence of at least one of them will lead to the failure of the startup.

Startup development specialist Anil Chhikara (India) told the aforementioned to Armenian News – NEWS.am on Wednesday.

According to him, the importance of knowledge for the creation of any project is apparent: even the most brilliant idea will cost nothing if one cannot make it true, this obviously requiring knowledge and skills. Moreover, if a startupper is going to develop a product, which will be used in an industry, he will need knowledge not only on the technical implementation of his idea but also on the specific industry, its issues and needs.

The specialist also noted that if the startuppers lack passion, they will be unlikely to breathe life into their project and advance it, facing the competition and all the difficulties on the path.

“If there is no passion, it is impossible to build a successful project based on knowledge alone. But passion alone is not sufficient either. A successful startup requires both knowledge and passion. Besides, the perseverance is very important: when everything goes array, will the startupper be ready to pass another mile, when all the rest give up?” he noted.

Exactly the passion and perseverance help startuppers overcome difficulties which they sooner or later face, Mr Chhikara said. 

Annual Sevan StartUp Summit organized by StartUp Armenia Foundation is held on the beach of Lake Sevan from July 24 to 31. Over 1,000 participants, including 100 startups and teams of developers, investors, venture companies and mentors from over 10 countries of the world, take part in the event.

According to the organizers, the event is aimed at creating new ways of cooperation for startups and exchange of experience. The format of the summit is unique: during seven days all the participants, including the mentors and investors, share their household, communicate and participate in different competitions and events. Consequently, new companies will be established and many projects will be able to find investors and enter the market in the near future. Moreover, there will be competitions, whose winners will get over 20 monetary and other prizes.

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