Success stories

eSwap: artificial intelligence to manage online sales
The start-up ecosystem in landlocked Armenia generates high value companies in a country with highly intelligent human capital. The eSwap start-up with its enthusiastic team of Gyumrians, inhabitants of the second largest city of Armenia, provides a multi-channel ecommerce management tool with a cutting edge innovation – integrated artificial intelligence, thanks to the assistance of the European...
EU helps Shirak region become IT centre of Armenia
Information technologies (IT) are growing rapidly in Armenia. The country’s government announced IT as one of their priorities and recently decided to establish a Ministry of High Technologies. The Armenian government has also adopted laws according to which newly created IT startups will be granted tax privileges until 2020. In Armenia, almost everything is by and large centralised in the...
EU promotes social entrepreneurship in Armenian provinces
Social entrepreneurship is a relatively new phenomenon in Armenia. As recently as five or six years ago, few people knew about it. Despite the fact that there is still no legislation in place regulating it, social entrepreneurship is growing in Armenia. The non-governmental sector is the driving force in this process. Representatives of the sector are now drafting the relevant laws, which are to...
The Digital Pomegranate, an IT company based in Gyumri
Sustainable regional development in Armenia depends on overcomingthe gap between the capital Yerevan and the marzes (regions) by providing young people with the skills they need to fuel local economic growth. The Digital Pomegranate , an IT company based in Gyumri, the country’s second largest city, has employed young specialists trained with the help of the European Union. Armenia’s economic...
On the zip wire at the Yell Extreme Park in Yenokavan
As part of the EU4Business initiative, the European Union and the European Bank for Reconstruction and Development (EBRD) are developing the private sector in Armenia through advisory services and improved access to finance for local SMEs, provided through the SME Finance and Advice Facility . “Usually business owners come to us, present the issues they have and we advise local consultants and...
Yana Pogosyan (photo by Nazik Armenakian)
Yana Pogosyan puts what people discuss at various training sessions and forums into graphics. She turns words into images, collecting “showpieces” for exhibition, making it easier to perceive information. So far, this method has not been widely used in Armenia, but, as Yana says, it is very promising and popular in many countries. As a graphic designer, Yana has been engaged in graphic recording...
Cyber Mantis Games is one of the winners of Seven Startup Summit 2018
With the help of EU4Business, an Armenian start-up has developed a new video game that it soon hopes to release in all European languages. Cyber Mantis Games developed its game, ' The Last Daredevil' , inspired by the Armenian legend of David of Sassoun. The hack’n’slash game takes the ancient hero and places him in an unexpected cyberpunk setting, making him explore his identity by traveling...
Boosting Technological Developments in Shirak Marz
People from all walks of life have participated in the 'Boosting Technological Development in Shirak Marz' project – an EU-funded initiative implemented under the EU4Business initiative by the Microsoft Innovation Centre in Armenia, and aimed at meeting the demand of local IT companies by training the unemployed youth of Shirak to become junior developers. Of the 80 students who passed the logic...
Volterman co-founder Gevorg Poghosyan during the IMG grant award ceremony in 2017
The idea for the Volterman smart wallet came to Armenian tech entrepreneur Azat Tovmasyan when his daughter Natalie lost her wallet. Combining sleek design and smart technology, that idea has now developed into a prototype wallet packed with digital technology. And EU support is helping the start-up he co-founded to take the product to market. Volterman combines 5 smart functions: a built-in...
At work at staff.am
An Armenian start-up is developing an artificial intelligence recruitment tool that harnesses the power of data and deep learning algorithms to save recruiters' time and boost the hiring process by providing pipeline of targeted quality candidates. This year, the company secured an EU-SMEDA Innovation Matching Grant (IMG), funded by the European Union under its EU4Business initiative, described...