YEREVAN, October 26, /ARKA/. A group of 5 biologists from Yerevan State University (YSU) have founded MiCoFe Startup and started recycling various types of organic waste, Acba bank said in a press release.
Using coffee waste, young biologists have created organic fertilizer stimulating crop growth. One of the tasks of MiCoFe startup is to obtain valuable materials from waste recycling. With this in mind, the startup took part in the AgriTech agricultural startups competition and took the first position.
They established new connections: the startup became a beneficiary of “Innovative Agriculture Support” program of ACBA Federation and took part in the one-year business incubation program carried out jointly with Impact Hub Yerevan.
“ACBA Federation gave us an opportunity of a one-year membership at “Impact Hub Yerevan” and take advantage of all the lectures and chances that “Impact Hub Yerevan” gives. They also organize personal lectures for Acba beneficiaries. We participate in various workshops and courses about marketing, finance, business promotion, idea stabilization etc, that allow to form and complete our idea. Our goal is to create ecologically clean, biodegradable organic fertilizer, which, compared to the chemical fertilizers, will not harm land or water environments. We want to have our positive investment in the development of agriculture”, notes Liana Vanyan, one of the group members.
“This year we have done experiments in the agriculture, in the fields, greenhouses, on crops, and the difference between fertilizer and fertilizer-free experiments was obvious. Our innovation is, that in our experiments we have used bacteria from the territory of Armenia and Artsakh. These are endemic bacteria, strains that are new to the world”, states Satenik Mirzoyan, member of the science group.
Acba Federation is the only significant participant of Acba Bank with 83.8 percent stake in the bank’s shares. Thanks to its participation in Acba Bank, Acba Federation contributes to the development of agriculture, small and medium businesses in rural areas, development of communities, revitalization and development of the business environment in rural areas and communities, and the growth of the well-being of every person carrying out business activities in these areas.
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