Armenia improves position in Global Startup Ecosystem Index -  minister 

ArmInfo.  Over the past year, Armenia has improved its performance in the Global Startup Ecosystem  Index by three positions. This was written by the Minister of  High-Tech Industry of the Republic of Armenia Mkhitar Hayrapetyan on his Facebook page.

According to him, the country now ranks 54th in the world. The  Minister recalled that the StartupBlink Global Startup Ecosystem Index is a global rating system that annually evaluates the state of startup ecosystems in 100 countries and 1,000 cities around the world. The rating is created on the basis of various data, taking into account the quantity, quality and business conditions of startups.

"The report examines a number of important factors, including  programs implemented by the RA government to support technology startups, in particular, tax incentives and targeted investments in high-tech sectors, noting that these investments are mainly channeled through the RA Ministry of High-Tech Industry, which plays an active role in promoting innovation and supporting the infrastructure of the digital economy," Mkhitar Hayrapetyan emphasized.

According to the report, over the past year, Armenia demonstrated a 22.8% growth in the IT sector. It ranks first in Central Asia and is among the top 35 global leaders in software and data.  As the authors of the report note, Yerevan has risen 19 positions and now ranks 181st in the world - this is the fastest growth in the region.

The ranking emphasizes that the country's ecosystem is developing thanks to the synergy of the public and private sectors. Armenia is home to 2 official "unicorns" - Picsart and ServiceTitan.  Major global tech companies such as NVIDIA, Synopsys, and AMD have large R&D centers in the country. The country has a mature ecosystem with 4  active angel networks and 5 early-stage venture funds.