Time in Yerevan: 11:07:36,   24 October

Armenia as a connecting link between foreign startups and Silicon Valley: Minister Arshakyan releases details on new program

Armenia as a connecting link between foreign startups and Silicon Valley: Minister Arshakyan 
releases details on new program

YEREVAN, JUNE 21, ARMENPRESS. A new program will launch in Armenia aimed at assisting startups for entering the international market by using the opportunities of the Silicon Valley, Minister of High Technological Industry Hakob Arshakyan told Armenpress, introducing his recent working visit to the United States. He informed that currently a program aimed at supporting startups is being developed which is at a packaging stage.  

“The essence of the project is to facilitate the entry of Armenian and also foreign startups to the market by using the opportunities of the Silicon Valley. For instance, a Kazakh company that wants to make investments, have an access to the market, but faces difficulties, we can use our opportunities and experience. Armenia can act as a linking bridge which will enable to enter into the market. And we can do this because we are not new in this business, there are already successful startups. The second key factor is our Diaspora, and we can use its potential. During the US trip we met with the Armenian engineering community in the Silicon Valley. More than 100 people attended the meeting, and we had a productive discussion”, the minister said.

Speaking about the visit to the US, the Armenian minister said the delegation included over 15 private companies which had a chance to meet with the leadership of major companies, corporations and establish communication with American companies. The minister said this approach will also continue in the future, as they are going to include local private companies in their working visits so that they will have a chance to enter markets and establish communication.

“We had dozens of serious meetings both with venture investors, businessmen and executives of large corporations. We had numerous opportunities to introduce Armenia and the Armenian high technological companies. There are already serious reactions, some of them have already accepted the invitation to visit Armenia”, the minister added.

Hakob Arshakyan informed that some programs currently are at a discussion stage. In particular, discussions are underway with the Draper University. It’s an entrepreneurship university providing 3-6 months courses for engineers and creating opportunities to communicate with the great players of the market.

“Currently the issue of opening the Office of the University in Armenia is being discussed. There are great markets which we can bring to our country. The visit to the US was really productive, results are noticed both now and are expected also in the future”, the minister said.

Interview by Anna Gziryan

Edited and translated by Aneta Harutyunyan

 




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