The development of startups requires not only funding, but also knowledge.

This is what Head of the Cooperation Section of the EU Delegation to Armenia Gonzalo Serrano de la Rosa said during a press conference hosted by the Business Angel Network of Armenia (BANA) and the EU Small and Medium Enterprises Support Program.

He added that the EU is carrying out information technologies development programs in Armenia through not only funding, but also exchange of experience. “We see great potential for the development of small and medium-sized businesses in Armenia, including through the development of the IT sector. From this perspective, what is also important is the government’s attitude and the fact that there is a relevant ministry in Armenia. This goes to show that there is an opportunity for further improvement of the business climate in Armenia,” he noted.