Innovation and Technology Park to be constructed in Yerevan

YEREVAN, JANUARY 29, ARMENPRESS.Yerevan will become home to the first Innovation and Technology Park in the region to be constructed in Armenia. It will become the future workplace for more than 6000 leading professionals which will lead the integration of IT and innovation into all the major industries in the country, including engineering, finance, banking, healthcare, insurance, agriculture, mining, media, and telecommunication.

The Innovation and Technology Park will differ from other parks with its type and scale. Currently, there are many different small and medium IT and engineering parks in the world. The Innovation and Technology Park which is being built in Yerevan will be the first multi-industry park among CIS and Eastern Europe countries in terms of represented industries and geography of companies originating from.

The philosophy of the Innovation and Technology Park is the creation of an "ecosystem of innovation". This will be possible through the involvement of educational, research and development institutions along with startupers, venture funds, incubation and acceleration programmers.

The Park claims to become the environment, where IT meets major industries and defines innovative products and services of future generation – putting Armenia and Armenian innovative products into a global innovation map.

The initiative of the project comes from the "Galaxy" group of companies together with Armenian IT community. The project planning phases lasted for more than 2 years, and the details of this large-scale project will be released soon.