Orion Summit 2023: $50 mln to be invested in Armenian startups before  end of 2023

ArmInfo. On June 22nd, the Orion Summit 2023, with the slogan "Investments Position Armenia,"  was held at the Harvard Club in New York City, USA. About 100 representatives from the United States, the United Kingdom, Canada, Germany, and Armenia, representing different sectors such as  technology, businesses, and Financial Services, participated in the summit. 

The opening of the event was performed by the founders of Orion, the  Minister of Economy of the Republic of Armenia, and Parker Sheedy,  the Director of International Affairs and Strategic Growth of the  Economic Development Corporation of New York City. The Armenian and  United States anthems were performed live. Live stream of the summit  is available through this link.

"Today is a historical day, as all of us are in New York City in the  Harvard Club, and three days on, we are speaking all about money and  all about investments. Our summit slogan is Investment Position  Armenia.  Investments to and from Armenia abroad will position our  country as one of the most attractive destinations in the world. More  than $52 million has been raised over the past three years through  innovation and acceleration programs, and another $50 million in  deals will be closed by the end of the year. Orion is also a platform  for mergers and acquisitions; right now, we have four ongoing deals  that we will close by the end of the year. I wish everyone a  successful day," said Diana Arzumanyan, CEO & Co-Founder of Orion  Worldwide Innovations Armenia. 

"It is very important for us to present Armenia as a country rich in  innovation and ready to make alternative investments. A country that  not only has investment opportunities, but also can multiply these  investments, partner and create value for Armenia and the advanced  world," said Emma Arakelyan, CEO & Founder of Orion Worldwide  Innovations and Venture Partner of Covenant Venture Capital.

"I want to thank the Orion team for the incredible work done over  several months. Orion Summit 2023 in New York is an important event  to bring together investors and entrepreneurs who can brainstorm and  think together about how we can boost investment in Armenia. One of  the main focuses of Armenia's economic policy is the attraction of  investment. We need to change the structure of our economic growth  model, moving from consumption-based to investment-led growth.  Together with our colleagues from Enterprise Armenia, the Armenian  National Interests Fund (ANIF), and the Ministry of High-Tech  Industry, we are here to discuss and support your possible ideas to  invest in Armenia," said Vahan Kerobyan, the Minister of Economy of  the Republic of Armenia. 

"This is a really exciting time for New York City. After three really  tough years, New York is back and thriving more than ever. Thanks to  Emma's and Diana's efforts, you have seen a very diverse ecosystem  here. New Yorkers are really strong and resilient people who have  been through a lot, whether it was a financial crisis in 2009, 9/11,  or this pandemic. And I think that it's something that we share with  the Armenians, in particular in terms of growth, value, and the way  of doing business. For that reason, I am very encouraged by working  with the Armenian business community and think that there is a lot of  potential for collaboration and future investment there," said Parker  Sheedy, Director of International Affairs and Strategic Growth of the  New York City Economic Growth Corporation.

Armen Kherlopian, Chief Science and Innovation Officer of Covenant  Venture Company, was one of the keynote speakers. The other keynote  speaker, Renee Nalbandyan, Director, Global Strategic & Sustainable  Investments at Bank of America, made her speech on the topic  "Importance of corporations allocating capital for strategic  investments." 

Orion Worldwide Innovations together with its Armenia office, is the  organizer of the Orion Summit 2023; the Ministry of Economy of the  Republic of Armenia is the co-organizer of the summit; Fastex and  Covenant Venture Capital are the Platinum sponsors; and the first  Armenian investment crowdfunding platform, ARFI, the Armenian  National Interests Funds, ANIF, Yeremyan Projects, and Burnwe are the  gold sponsors. Live stream of the second half of the summit is  available through this link. 

During the panel discussion "Digital Julfa Network to Position  Armenian Innovation, Science and Exquisite Companies," it was  announced that the initiative committee is working on establishing  "Armenian Centers" in different countries; the first one will be  opened in Dubai. 

During the summit, the launch of Orion Scoring took place. It is the  world's first comprehensive scoring system that brings predictability  and standardization to investors and startups.

During the three working days preceding the summit, the participants  visited a number of leading educational, financial, and venture  companies, had meetings with investors, and discussions at the Bank  of America, the Jacobs Technion-Cornell Institute at Cornell Tech,  Brooklyn Navy Yard, and other Fortune 100 companies. 

More than 40 speakers from other leading companies, such as Bank of  America, Goldman Sachs, BDO Global and BDO Armenia, New York Life  Insurance, World Economic Forum, Francisco Partners, Block, and  others, gave speeches and participated in discussions during the  summit. 

Orion Worldwide Innovations, is a startup growth and ecosystem  acceleration hub and offers a full-service package to make companies  investable and enter the US market, enhance their customer  acquisition strategies, stay competitive, and protect their  innovation. Orion is a U.S.-based company that was formed in 2017,  with offices in New York City, U.S., and Yerevan, Armenia, though  Orion partners with companies and investor networks worldwide.