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                <p><img src="https://images.unsplash.com/photo-1600758208050-a22f17dc5bb9?ixlib=rb-4.0.3&amp;ixid=M3wxMjA3fDB8MHxzZWFyY2h8MXx8YXJtZW5pYXxlbnwwfHwwfHx8MA%3D%3D&amp;w=1000&amp;q=80" alt="aerial view of city buildings during daytime">
<br>As a landlocked country with restricted land access due to tensions with Turkey and Azerbaijan, the Armenian ecosystem continues to show remarkable innovation. The government of Armenia recognizes the importance of fostering innovation for the country’s future and has dedicated resources to nurture local ecosystems.<br></p>
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<p><br>Armenia’s tech sector is attracting new investments, driving growth and success. The country’s first unicorn, PicsArt, achieved a valuation of US$ 1 billion and acquired another thriving Armenian startup, DeepCraft. Armenian startup ecosystems are experiencing growth in entrepreneurship and tech development, with companies like Shadowmatic and YerevaNN being recognized for their work in deep learning technologies.<br></p>
<p><br>Despite its small market size and population of 3 million people, Armenia has produced several highly successful startups that have expanded into larger markets such as the US, like Service Titan. Many of these entrepreneurs are still connected to Armenia through a strong and successful diaspora, which helps support the local economy. Notable American entrepreneurs of Armenian descent, such as Reddit founder Alexis Ohanian, are also contributing to the growth of local startup ecosystems.<br></p>
<p><br>Armenian startups are designed to target the global market from the start, benefiting from the country’s abundant tech talent. <a href="https://bana.am/">The Business Angel Network</a> in Armenia actively supports ecosystem development by providing funding opportunities through events like the <a href="https://angelconference.bana.am/">Angel Conference</a>. The Armenian government offers various programs to support tech startups, including tax incentives. In order to attract foreign investment, Armenia has established Free Economic Zones and full ownership privileges, among other incentives, under the legal framework for Foreign Investments. In recent years, Armenia has made significant strides in reducing bureaucracy and corruption.<br></p>
<p><br>Although Armenian startup ecosystems are still in the early stages, and the country has challenges to overcome from its history, there is vast untapped potential waiting to be unleashed. The growth, success, and innovation within the Armenian technology ecosystem continue to demonstrate its promise for the future.<br></p>

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![aerial view of city buildings during daytime](https://images.unsplash.com/photo-1600758208050-a22f17dc5bb9?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8MXx8YXJtZW5pYXxlbnwwfHwwfHx8MA%3D%3D&w=1000&q=80)
<br>As a landlocked country with restricted land access due to tensions with Turkey and Azerbaijan, the Armenian ecosystem continues to show remarkable innovation. The government of Armenia recognizes the importance of fostering innovation for the country's future and has dedicated resources to nurture local ecosystems.<br>

==read-more==

  

<br>Armenia's tech sector is attracting new investments, driving growth and success. The country's first unicorn, PicsArt, achieved a valuation of US$ 1 billion and acquired another thriving Armenian startup, DeepCraft. Armenian startup ecosystems are experiencing growth in entrepreneurship and tech development, with companies like Shadowmatic and YerevaNN being recognized for their work in deep learning technologies.<br>

  

<br>Despite its small market size and population of 3 million people, Armenia has produced several highly successful startups that have expanded into larger markets such as the US, like Service Titan. Many of these entrepreneurs are still connected to Armenia through a strong and successful diaspora, which helps support the local economy. Notable American entrepreneurs of Armenian descent, such as Reddit founder Alexis Ohanian, are also contributing to the growth of local startup ecosystems.<br>

  

<br>Armenian startups are designed to target the global market from the start, benefiting from the country's abundant tech talent. [The Business Angel Network](https://bana.am/) in Armenia actively supports ecosystem development by providing funding opportunities through events like the [Angel Conference](https://angelconference.bana.am/). The Armenian government offers various programs to support tech startups, including tax incentives. In order to attract foreign investment, Armenia has established Free Economic Zones and full ownership privileges, among other incentives, under the legal framework for Foreign Investments. In recent years, Armenia has made significant strides in reducing bureaucracy and corruption.<br>

  

<br>Although Armenian startup ecosystems are still in the early stages, and the country has challenges to overcome from its history, there is vast untapped potential waiting to be unleashed. The growth, success, and innovation within the Armenian technology ecosystem continue to demonstrate its promise for the future.<br>

Krisp

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The country has some notable startup success stories including , Krisp.

Armenia has 1 city in the top 1000
      and is ranked 15th in Eastern Europe.

Armenia’s startup scene remains stable in 2024 on the
      57th position, having kept 1 city
      in the global top 1000.

Armenia’s startup ecosystem ranks 15th in Eastern Europe and 57th globally. Armenia’s startups raised 14308301 US dollars on average. Find the most promising startups, unicorns, and notable exits in Armenia.

Startup Ecosystem of Armenia | Startupblink

Our startup ecosystem map for Armenia includes a sample of 99
      tech companies. We have identified as unicorns 1 startups that have passed the USD 1 billion valuations.

With a large variety of accelerator programs and initiatives, Armenia's startup scene stands out from that of other countries in Eastern Europe. Armenia offers a number of funding
opportunities for entrepreneurs and startups. Below is a list of some of Armenia's most prominent support initiatives:

An inspiring ecosystem that is steadily due to its growing use of digital technologies, rapid urbanization and planned investments

WADAAG TECHNOLOGIES

Sostec

FGS Bill Tracker

Zaad

Wadaag Investment

A growing regional and global startup leader 

bitget.com

AscendEX

DeBank

Trip.com

Viki

A vibrant and strong startup hub attracting international recognition and investment

Cámara de Comercio de Bogotá

Founder Institute (FI) Bogota

RockStart Latam 

Calle 127a # 53a-45

Carrera 19 # 100 - 45

WeWork

Toastmasters Bogota

Picap

Autolab

Cubbo

Rappi

Addi

Bold

Calle 26 # 92-32

Carrera 11B # 99 - 25

A leading regional startup hub owing its succes to the creative and innovative spirit of its people 

MiraKle Lab

VentureSquare

TIPS

Staion Neo

Samseong Station II

Gangnam Station

Seoul Business Agency

SK Hynix

Toss Lab

AIV 

OP.GG

Bithumb

Fastfive Seocho 2

LocalStitch Yeongdeungpo

An innovative city with a global startup ecosystem

Nikkei

LIP. Yokohama (Life Innovation Platform Yokohama)

Project Ninja

THE BAYS

Hanzomon PREX North

Iceberg

Keio University, Hiyoshi Campus

RIKEN Yokohama Campus

YNU Yokohama National University

Locoguide

C Channel

note

PayPay

DM2C Studio

Timee

Regus - Tokyo, Kanda

OpenOffice - Tokyo, Nihonbashi Hakozaki (Open Office)

Regus - Tokyo, Ginza 3-Chome

One of the fastest growing ecosystems in Australia 

River City Labs

Buderim Meeting Rooms

The Boarding Office

INVEST Sunshine Coast

Delorean Project

Inform Ag

Coyo

NutWorks

Zitcha

Servatus

WOTSO

Inbox Workspace

A growing startup ecosystem owing to its workforce and industries.

Build2Scale Health

Queen's Startup Runway Incubation Program

Makerspace of Queen's University

Rose Innovation Hub

Queen’s University Rose Innovation Hub

Queen's Office of Partnerships and Innovation

Queen's University Smith School Of Business

Dunin-Deshpande Queen's Innovation Centre

Sparq Systems

FireRein

Green Graphite

IPG Photonics Canada

CMC Microsystems

Mosaic Manufacturing

Alon MedTech Ventures

Open Valley

Colab Square

Yokneam Municipality 

Startup Village Yokneam

Augmedics

ForSight Robotics

Rapid Medical

Chain Reaction

K2View

Pitch

From Service-Based to Product-Based Economy – Lessons from North Macedonia

Corporate Startup Activity Index 2025

The Impact of Government Support on Startups