The Development foundation of Armenia will support IT sector projects

The President of the UEICT Armen Baldryan, Director of “Synopsys Armenia” Hovik Musayelyan met with CEO of the Development Foundation of Armenia Avak Avakyan. During the meeting multi-layered investment projects in IT sector were discussed.


The heads of the UEICT and “Synopsys Armenia” noted that the main problem of IT sector is the lack of cadres, and in order to solve it microelectronics was introduced as a mandatory course at some schools of Armenia. They also attached importance to the formation of a realistic image of the IT sector of Armenia.

The Armenian companies, preparing for the major international exhibition to be held in China in November, asked for the support of the Foundation to participate in it. The parties will also jointly prepare a presentation of IT sector to present Armenia’s potential at international platforms.

The head of the “Synopsys Armenia” company Hovik Musayelyan informed the CEO of the Foundation about the project of virtual startups that will lead to generation of real products. The concept of Smart city in Yerevan was also presented during the meeting. The project to transform Yerevan into a smart city aims at creating a movement of the idea generation that will include all the layers of the city, and, if necessary, will organize trainings to turn the ideas into business or to provide residents with creative skills. The concept aims to present Yerevan to the world not only as an ancient, but also a smart city that will make people more comfortable to live in.

The participants of the meeting also discussed the idea of organizing international IT exhibition and forum in Armenia that will bring together the specialists from different countries of the World, who will present their ideas of smart cities that can further be used in Armenia.

The issue to assist the heads of the Armenian-based IT companies to take part in the Management of the Higher Technological Business training at the University of Stanford was discussed with the CEO of the Development Foundation of Armenia Armen Avak Avakyan.