Within ACBA Federation / Impact Hub Yerevan Scholarship program and with the financial support of ACBA Federation, the Fitolight Startup has got the opportunity to become a member of the Impact Hub unique eco-system, as well as get business consulting from mentors of various fields, depending on the existing needs during the development of the startup.

About Fitolight Startup

Representatives of the agricultural sector (including greenhouses, farmers) and generally all those people in the world who like growing plants at home, are facing numerous problems the most important of which is the scarcity or lack of light.

Businessmen have the following additional problems:

• high power costs
• expensive lamps aimed at solving the problem of scarcity of light,
• low crop capacity.
• slow growth of plants, etc.

The Fitolight Startup which now has all the prerequisites to start a business, has been founded by three individuals who offer a complete solution to the above-mentioned problems through LED fito lamps.

Gevorg Hovhannisyan, Masis Mikayelyan and Levon Yeghiazaryan are the co-founders of Fitolight. They have accumulated relevant professional knowledge and work experience in LED technologies, sales and marketing, as well as finances and accounting.

The lamp is a product of LED technologies which covers the whole spectrum of visible light necessary for the plant to undergo the whole process of photosynthesis.

With this LED lamp it is possible

• to accelerate the growth of plant by 40%.
• to reduce the costs by 30%
• the repayment term of the investment begins in 2 years,
• And the most important, these lamps are 100% safe for all types of plants.

The main consumers are greenhouses, farms and individuals.

The lamps cost from $50 to $300 depending on plant species and the structure of the greenhouse.

The founders of the startup are planning lamp integration through software which will allow consumers to manage them flexibly through the phone. In this case monthly participation fees will be a source of extra income. The market is quite large and exceeds 500 million dollars each year. The Armenian market is estimated $240 million, the Russian market is $780 million, $4.8 billion in the Netherlands and $828 billion in China. Today all these problems can be solved thanks to lamps which are more costly, expensive, do not provide the whole prօcess of photosynthesis and, according to the producers, accelerate the growth of plants up to 30%.

Participation in various competitions and programs

The efforts of young people aimed at the management of domestic production have given positive results. The organizers continue their participation in a number of local and international projects and events.

Among them we should mention The Sevan Startup Summit 2017 and Seaside Startup Summit 2018, the Training program of the Startup Academy, the EU-funded IMG 2018-2020 program, etc.

Since November 2017 the team members have been included in the joint project of ACBA Federation and Impact Hub Yerevan and have been provided with a comfortable and a very productive work platform.

Fitolight cooperates with famous Norwegian NIBIO plant physiology research center and Israeli Seach Sarid Research company. Within the project they are going to send fitolamps for testing and documentation.

After successful testing results the company plans to start working on the international patenting of the technology and export the domestic production to Russian, US and European markets.

The first batch of the lamps has already been sent to Israeli Seach Sarid company for testing and documentation.

Armenia TV’s report on the Fitolight team at the Seaside Startup Summit 2018.