Armenia plans to become an international technological cluster for the development of start-ups

ArmInfo. Armenia will create a free economic zone, where an innovative technology center will be established - the Armenian Silicon Valley.  According to the press service of the Armenian Blockchain Forum (ABF), the main task of the cluster will be the organization and regulation of infrastructures for the development of projects of international startups in the sphere of high technologies

ABF presented this project on December 20 to RA President Serzh Sargsyan and members of the working group of the RA government, after which it was approved.

According to the source, in the first half of 2018 it is planned to open an international accelerator, as well as the creation of technical sites and bases on the territory of the FEZ.

Minister of Economic Development and Investments of the Republic of Armenia Suren Karayan noted that the creation of the center will affect the development of the high-tech sphere and will allow Armenia to become one of the technological leaders on the international arena. In addition, it will help attract investment and create jobs. "The implementation of the project will be an additional impetus, contributing to economic development," he stressed.

For his part, the author of the idea, Ilya Goldberg, expressing gratitude for the support provided by the Armenian government and personally by President Serzh Sargsyan on the development of high technologies in the country, stressed that Armenia has all the necessary human, energy and technological resources in order to give them a new push for development.

The international company KPMG, which developed the rules for the development of international business, will provide consultancy and audit support. At the same time, resident companies will be exempted from VAT, as well as income taxes as part of the supply of products and services in the FEZ. In particular, within the framework of the program, educational and research projects will be implemented in cooperation with universities.

Currently, the initiators of the project and the members of the working group of the Government of Armenia are actively working on the creation of an infrastructure basis with the working title ECOS, within which a new ecosystem will be created and the necessary services and comprehensive support to all new players in the high technology market will be provided. According to ABF estimates, during the first year of the ecosystem start-up, about 250-300 highly-paid jobs will be created, and the volume of attracted investments will reach $ 120 million.

ABF is an information and educational platform for combining the practice of leading companies, specialists and entrepreneurs with the aim of creating favorable conditions for the development of technology companies. As part of its activities, the forum organizes international conferences, hackatons, business marathons aimed at finding new solutions, as well as educational courses, mentoring programs for the exchange of experience in the IT industry.