News
Newsfeed
News
Tuesday
February 07
USD
395.53
EUR
393.43
RUB
6.42
Show news feed

YEREVAN. --  A national venture fund will be created in Armenia, First Deputy Minister of Transport, Communications and Information Technologies of Armenia Hakob Arshakyan told Armenia News- NEWS.am.

According to him, the project now is at the stage of discussions. There are two options for its implementation: first one is a classic venture fund that will invest in priority areas such as blockchain, artificial intelligence, hypersecurity, while the second is the creation of the so-called “fund of funds”, which implies interaction with an authoritative foreign fund and implementation of co-investment.  Creation of several funds based on this model will attract start-ups from all around the world.

In both cases, the national venture fund will be established with the participation of the government.

Arshakyan emphasized that the goal the national venture fund is to increase the investment attractiveness of Armenia.

“We want Armenia to become the hub of start-ups and innovations,” he said.

Investments from the fund will be designed for several stages of implementation of the projects, the deputy minister said, adding: “The volume of financing specific projects will reach millions.”

At this stage, work is under way to develop the concept and charter of the fund.

“By the end of the year there will be concrete results,” the deputy minister concluded.

!
This text available in   Հայերեն and Русский
Print
Read more:
All