Time in Yerevan: 11:07:36,   19 July

Over 20 companies ready to operate in engineering campus in Yerevan suburb Jrvezh

YEREVAN, MARCH 11, ARMENPRESS. The construction works of an engineering campus in Yerevan suburb Jrvezh will soon kick off. This is one of the major IT projects that is planned to be implemented in the current year. Deputy Minister of Economy of Armenia Emil Tarasyan told “Armenpress” that soil testing activities already come to the end. “Since the allocated area belongs to a state enterprise the State Property Management Department has been assigned to regulate the issues related to the allocated area as soon as possible, after which we have enough finance to start the construction”, the Deputy Minister said, reminding that the American company “National Instruments” is the initiator of the idea of the campus, which will be realized with the assistance of the Government.

“40 engineering start-ups are expected to be involved in Jrvej engineering campus. The Government will cover the costs of infrastructural systems, and the cottage offices will be constructed by the funds of the company. This is a productive public-private project with a precise business program”, Emil Tarasayan said, adding that the project is expected to be finished by mid 2017.

In the words of the Deputy Minister, there are already over 20 companies that have expressed readiness to start working in the campus. “We will not have shortage of start-ups for sure, there are many companies wishing to join”, he said.

He stated that preference will be given to local start-ups, at the same time adding that it is not necessary that the start-ups belong to “National Instruments”.

Emil Tarasyan mentioned that the experience of technological centers showed that establishment of a campus is the best motivator for setting mutually beneficial cooperation between different companies. “The environment shapes new business relations, and an optimal distribution of resources takes place. When there is a company next to you that is capable of producing some part of your production chain, you do not have to make extra investments and an optimal distribution of resources takes place which leads to drop in cost price”, the Deputy Minister of Economy stated.

Ani Nazaryan

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