Armenian high-tech companies raised $50 million investments in 2020
YEREVAN, February 9. /ARKA/. Armenian startups raised last year $50 million in investments, High Technology Industry Minister Hakob Arshakyan said at a press conference on Tuesday.
According to him, 192 new companies were founded in the country in 2020, which received certificates and will receive tax benefits.
“These are startups of Armenian origin, which have their own research centers in Armenia. These companies in 2020 attracted $50 million investments, mainly from abroad, ”Arshakyan said.
According to him, this means that high-tech products were created in Armenia, and companies that managed to show such results became interesting for venture capital and other investors.
“We hope that these indicators will increase in the near future,” Arshakyan said.
The Armenian authorities adopted unprecedented legislative changes in 2017, granting start-ups in the IT sector five-year tax breaks from the date of registration. -0-
