YEREVAN. – Asian Development Bank is designing a new project to promote innovation and entrepreneurship in Armenia, Mr David Dole, ADB resident representative in the country, told Armenian News – NEWS.am.

The program is likely to have 3 components. The first one will aim to promote innovation and business skills. This part is expected to empower prospective entrepreneurs, including students.

The second part will help incorporate innovation into business, in industries that can better absorb new technologies.

Last, but not least, will be translating this knowledge and skills to exports growth. The project may include consultancy to experienced businesses as well as novices.

“Our experts are coming next week to work with the Government of Armenia on exactly how to design the program. Our experts will be involved at the later stage as well. Possibly, international experts will be coming too, and maybe there will be some financing for technical needs – equipment or whatever,” Dole said.

The project is expected to start in 2016 at the latest, but preferably before the end of 2015, he concluded.