Innovation and Technology Park to be built in Yerevan

ArmInfo.The first regional Park of Innovations and Technologies will be built in Yerevan. It will become a workplace for more than 6,000 advanced professionals  who will contribute to the implementation of technological and  innovative solutions in advanced sectors of the economy, such as  engineering, finance and banking, health care and insurance,  agriculture and mining, media and telecommunications. This is  reported in the official press release of the Galaxy group of  companies.

 The park of innovations and technologies will differ in its features  and scale. There are many different small and medium-sized parks in  the IT and engineering world. The park, which is being built in  Yerevan, will become the first park with different directions among  the parks of the CIS and Eastern European countries in terms of the  companies represented in it together with the IT sector and geography  of companies.

The foundation of the Park of Innovation and Technology is the  creation of an "ecosystem" of emerging innovation, through the  involvement and cooperation of industry companies and educational and  research institutions, as well as structures that develop large-scale  development programs. Startups and venture funds will also be  represented in the Park, and incubation and acceleration programs  will be implemented.

The park claims to become a place where the introduction of IT  technologies in key sectors will determine the innovative products  and services of the future generation, becoming the hallmark of  Armenia and Armenian innovation thought in the world.  The initiative  of the project belongs to the "Galaxy" group of companies together  with representatives of the IT sector. The project has been planned  for more than two years, and the details of this large-scale project  will be disclosed soon.  To note, the Galaxy group unites 15  companies with more than 3,000 employees. The group is represented in  the areas of IT and telecommunications, sales and services, real  estate and construction. By the end of 2018, the company paid 13  billion drams to the state budget.