Sevan Startup Summit may become Armenia's tech brand - Minister
YEREVAN, April 16. /ARKA/. Sevan Startup Sammit-2025, which will be held in July on the shores of Lake Sevan, has the potential to become an innovative technological brand of Armenia, Armenian Minister of Hi-Tech Industry Mkhitar Hayrapetyan said.
“Holding this event will allow us to concentrate many startups and investors in our country. Armenia and especially Sevan will become one of the world's technological hubs for a whole week,” Hayrapetyan told a press conference on Wednesday.
He noted that in previous years, more than 50,000 guests from 60 countries took part in the startup summits in Sevan.
The minister emphasized that the Armenian government considers the creation and development of the startup ecosystem a priority.
“It is important because it allows developing non-resource sectors in the country's economic structure and attracting investments. We attach great importance to the development of startups as the most dynamic, flexible business with huge growth potential, and it also stimulates the development of innovations,” Hayrapetyan said. He said that in order to develop the startup ecosystem, the authorities of the country have been promoting the creation of incubators in recent years, and in the future - attracting investments in venture capital platforms.
In turn, the organizer of the summit, co-founder of StartUp Armenia scientific and educational foundation Hakob Hakobyan said that Sevan StartUp Summit is held as a technological event and is an important element of Armenia's startup ecosystem.
“This year we expect about 2,000 local participants and 15,000 participants from abroad. The summit's program includes 8 projects, traditional contests with hundreds of thousands in prizes,” he said.
According to Hakobyan, Sevan Summit has already managed to take its stable place among similar events in the world.
“Negotiations are underway with the governments of India and the UAE on long-term cooperation with Seaside Startup Summits,” Hakobyan said.
He added that agreements have also been reached on cooperation with partners from Hungary, Spain, Croatia, the United States and Australia, and it is hoped that joint projects will be realized with the participation of the authorities.
The Government of Armenia allocated AMD 200 million to the Startup Armenia Science and Education Foundation to organize the summit.-0-