During today’s session, the Armenian government decided to include Upstart Lab LLC in the register of operators of the ECOS Free Economic Zone for implementation of activities in high technologies and the IT sector.
The investments to be made within the scope of the program between 2020 and 2024 will make up nearly AMD 110,000,000. The program will help create 15 new jobs with average monthly salaries ranging from AMD 300,000 (in the first year) to AMD 650,000 (in the fifth year).
In the first year, the company will have a nearly 12 square meter office in the ECOS Free Economic Zone, which will be expanded and have 90 square meter area in the fifth year. ECOS LLC has agreed to allocate the aforementioned territory to the company for a five-year term and provide a relevant infrastructure.