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Armenian Innovation Hub Eastern European Startup Ecosystem Leading Angel Investment Community GATEWAY TO EUROPE

The impressive success of Armenia’s IT sector has helped attract companies from all over the world in establishing technology centers in the country. As an emerging hub our goal is to highlight the initiatives that are already being done and theses different developing industries

In coordination with EBAN, STAN, AICA, BANA we aim to further boost the regional entrepreneurship landscape by strengthening ties between European investors and Eastern Europe/ Central Asian investment and innovation communities.

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Discover a growing innovation hub

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Growth
Armenia's IT industry has experienced remarkable growth in recent years, becoming a key driver of the country's economy. With a Compound Annual Growth Rate (CAGR) of 52.4%, the sector now contributes around 7%-8% of the national GDP in 2024. This growth has been fueled by a combination of a highly skilled workforce, a favorable business environment, and strong government support, making Armenia an attractive destination for technology companies and startups.
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Education
A major factor behind this success is Armenia’s strong focus on STEM education. Institutions such as the American University of Armenia, Yerevan State University, and the State Engineering University of Armenia offer specialized IT programs, ensuring that students are well-prepared for careers in technology. Additionally, educational initiatives like TUMO, the Gyumri and Vanadzor Technology Centers, and the Microsoft Innovation Center Armenia provide hands-on training and development opportunities for young professionals.
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Governmental Incentives
The Armenian government has played a crucial role in fostering the growth of the IT sector by creating a favorable regulatory environment. Accredited IT startups benefit from a reduced income tax rate of 10%, compared to the standard 20% applied in other sectors. This incentive, along with broader investment programs, has encouraged both local and international businesses to invest in the country’s tech ecosystem.
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