Within the next 3-5 years, $ 3mln will be allocated to demonstrate IT-potential of Armenia

ArmInfo. The IT potential of Armenia has already been demonstrated in 5 countries of the world through 6 representative offices. With the help of private sector investments of $ 3mln over the next 3-5 years similar platforms for demonstrating IT achievements of Armenian specialists will be created in 16 countries. This was stated at a press conference by the Minister of Transport, Communications and IT Vahan Martirosyan on September 26 at a meeting with journalists.

According to the minister, the created representative offices will organize various forums, meetings, which are expected to lead to an increase in investments in the IT sphere of Armenia. It was with the aim of stimulating the development of the IT sphere in Armenia and ensuring the entry of international companies into the IT market of the republic, the delegation of the Ministry of Transport took part in a number of international forums during the year. In addition, over the next 10 days, Armenian-Korean, Armenian- Japanese, Armenian-Canadian IT conferences.

Startups in IT sphere are in the focus of attention of the Armenian government, Martirosyan noted. With the assistance of the Ministry and through cooperation with the private sector, a pilot program called "Business Angels" was presented for financial support to start-ups during the year. Within the framework of the program, 30 start-up companies were represented, 2 of them, according to the results of the competitive selection, received financing in the amount of 10 million drams.

It should be recalled that on November 10, 2016 at a government meeting Prime Minister Karen Karapetyan stated that in Armenia's embassies in 15 countries there should be established platforms for demonstrating the IT potential of the republic. According to Karapetyan, the representatives of the IT sphere applied this request. The implementation of this initiative, he said, will not require additional financial allocations, since they all incur expenses. "The goal is to make it clear that they act on behalf of the state," Karapetyan explained.

Earlier, answering the question of ArmInfo, the director of the Enterprise Incubator Foundation (EIF), Bagrat Yengibaryan, reported that the total turnover of over 500 IT companies operating in Armenia exceeded the $ 600 million limit. According to Yengibaryan, for such a country as Armenia this is an unprecedented index. Only in the last 7 months the sphere recorded 30-35% growth.