ArmInfo. Starting October 16, accelerated pilot program "The Academy of Startups of Armenia" of the Catalyst Fund will start in Yerevan, thanks to which participants will be able to learn about the development of innovative business and the withdrawal of their products and solutions to the international market. Deputy Minister of Economic Development and Investments of Armenia Emil Tarasyan stated at the press conference on October 3 noting that the best international experience and methodology in the sphere of accelerating programs were used in the development. According to him, the program includes start-ups in both IT and high technologies.
Answering the question of ArmInfo, E. Tarasyan noted that about 100 startups in the field of information technologies are created every year in Armenia (excluding startups in the field of engineering). In this connection, he noted that the government intends to stimulate the start of business in the sphere of high technologies. At the same time, Tarasyan stressed that the percentage of successfully developing startups in Armenia is significantly inferior to the number of inefficient businesses. "However, the potential in the innovation sphere is quite high. And we should work in this direction," he stressed. Through the implementation of such programs, according to the deputy head of the agency, the government intends to provide long-term assistance to start-ups by regularly introducing tools for business promotion, developing communication skills with investors in order to provide Armenian start-ups with opportunities that are used in developed countries.
"And most importantly, filling in the gaps in this eco-system, it is necessary to create comfortable conditions for our start-ups, thereby preserving their presence in the domestic market. In case of an exit - to provide, that results of their activity served for economy of Armenia", he said.
The co-founder of the Catalyst Fund Ashot Arzumanyan noted that since 2014 to this day, Armenian start- ups through venture capital and investors attracted about $ 90 million. He said that the Academy for Innovators will operate from October 16 for 12 weeks. "The program is divided into 3 stages. In the first round, which will last 4 weeks, the project provides for the diagnosis of start-ups, the second - the drawing up of a plan that provides for the further direction of the start-up and the definition of markets, and during the final stage, work will be done aimed at the readiness of start-ups to enter the market". A. Arzumanyan noted that applications for participation can be submitted until October 9 inclusive.
The co-founder of the Foundation said that tomorrow, October 4 at 19:00, an information session for start- ups will be held at the American University of Armenia, within which representatives of the Catalyst Fund will present the program in more detail.
To note, the Academy of Startups of Armenia is implemented within the framework of the SME Support to SMEs program, co-financed by the EU and the Ministry of Economic Cooperation and Development of Germany. The cost of the program is 6.4 million euros.