YEREVAN. – The teams, which will present the best ideas for the Information Technology (IT) sector, will receive a $15,000 grant, Armenia’s Deputy Economy Minister Tigran Harutyunyan stated Tuesday during the “Venture Conference” being held in capital city Yerevan.       

As per Harutyunyan, this grant will enable Armenia’s novice IT companies to venture out into the market. 

In his turn, Enterprise Incubator Foundation Executive Director Bagrat Yengibaryan said fifty projects were introduced this year, twenty-one were selected, and five of these will receive grants. The respective panel of judges comprises specialists from Armenia and the United States. 

The conference is being held under the theme “From Idea to Market,” and its main objective is to support young scientists and new companies.