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Business guide. What are the high-tech perspectives of Armenia

15.03.2021

The Russian business portal Rusbase (Rb.ru) wrote about the high-tech perspectives of Armenia compiling a detailed business guide. It tells what opportunities Armenia provides for IT projects and where to go with a startup to develop.

In particular, the portal says that Armenia has been moving towards high-tech development for many years but that movement has accelerated after the velvet revolution of 2018. In 2018, the tech sector grew by 33%: to $ 250 million, and the average growth in three years, starting from 2015, made 28%.

The article has separate subsections with corresponding descriptions:

- startups and large IT companies,

- business angels and venture funds,

- accelerators and business incubators,

- events, competitions and summits,

- startups communities,

- educational programs,

- repatriation support organizations

The list includes PicsArt, Krisp, ServiceTitan, Vineti, Shadowmatic, Granatus Ventures, Armenia Startup Academy, FAST Foundation, Impact Hub, Sevan Startup Summit, Chainpoint Conference, DigiTec Expo, Itel.am, Tumo, Armath, etc.

As for repatriation supporting organizations, the portal notes that as the Armenian IT ecosystem develops, many Armenians who were born abroad begin to participate in the development of the sector or even return to the homeland and launch their own startups.

This subsection includes such projects as the “Neruzh” program which has been implemented since 2018 with the support of the Ministry of Diaspora and FAST, IDeA, Impact Hub funds, the #landed program of SmartGateVC company and “IT is Armenia” which cooperates with more than 100 companies helping them to find the best hi-tech talents.