High Tech Armenia
Armenia is making serious efforts to become the IT and tech center of the region. In the past decade, this small country nestled on the crossroads of Europe and Asia has been attracting some of the biggest names in tech who are looking for a new source of exceptional IT and software development talent.
Armenia’s reputation as a hub for innovation has recently earned it the nickname of the Silicon Valley of the region.The IT sector has been advancing in Armenia over the span of several years and is booming, making up a significant part of Armenia’s economy. The small nation of 3 million people has over 18,000 people working in the tech sector! And with over 800 Information and communications technology (ICT) companies actively operating and an estimated average of 43 ICT companies being established each year, the industry is clearly on the rise. The demand is so high that Armenian educational institutions are struggling to keep up.
Local companies enter international market early on and compete successfully (like Synopsys , PicsArt, etc), while global companies open branches and offices in Armenia.
Fast growth or creative IT companies are not the main peculiarity of Armenian IT sector. We stand out due to the high percentage of women working in IT. On average in the world share of women employed in IT doesn’t exceed 20% even though tech world aspires to achieve gender balance and diversity. In Armenia number is around 30%.
In Armenia there are several education centers that do not have analogues in the world: Ayb school, UWC international college and Tumo Center for Creative Technologies, the latter has 15 thousand children who are taught programming by the leading experts in the field on a free basis.
Evidently, the Armenia Development Strategy promises to continue creating a healthy environment for the future growth of the tech and ICT sector in Armenia. If you are an investor, the time to jump on the bandwagon is now!
