Armenia’s tech sector has been a driving force in the economy, representing close to 7% of the country’s GDP output and 15% of total exports. According to a recent EIF report the software sector grew more than 27% in 2017, employing over 17,700 professionals. Expectations are high and investors are betting on the promise of this emerging start-up hub. The launch of the country’s first formal Venture Capital fund, Granatus Ventures, catalysed the entrepreneurial ecosystem by providing much-needed risk capital for start-up companies. Other investment funds, incubators, accelerators have since followed, contributing to the vibrancy of this high-growth segment.
One exciting new initiative is the Seaside Startup Summit (https://www.seasidestartupsummit.com/). Established in 2016, the Summit is a week-long outdoor campsite-based global entrepreneurship forum held each July on the shores of Lake Sevan. The Summit fosters intensive deal-making and immersive conversations about the hottest topics in entrepreneurship today, and to date has attracted over 350 leading angels, VCs, entrepreneurs, mentors and policy makers from 45 countries to Armenia. Of the 450 vibrant start-ups that have participated in the Summit, several have raised seed and angel capital through the Summit’s proprietary acceleration and investment platform – the Booster. This year’s Summit will take place in Sevan from 26 July to 02 August 2019. Sevan Startup Summit is an excellent gateway to Armenia’s burgeoning IT ecosystem. To learn more about the Summit, or to participate as an investor in the Booster, or join this exciting event as a mentor, speaker or start-up, please send an e-mail to: [email protected].