Success stories

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...
Aram Gasparyan celebrates the launch of his business in Goris
Aram Gasparyan works in printing and production of outdoor advertising boards in the city of Goris in Armenia. Since December 2017, his business has grown from amateur level to specialised production, with the help of EU4Business, through the EU-funded project on 'Boosting the Competitiveness of regional SMEs', implemented by the Small and Medium Entrepreneurship Development National Centre of...
The Embry team at the Vanadzor Technology Centre
An Armenian start-up has developed a unique weight-tracking insole, using smart technology to monitor weight and physical activity. Now, with the help of EU4Business, the company is targeting EU markets for export. According to co-founder Nare Gevorgyan, Embry is unique because it is the first smart insole in the world that automates weight tracking: “ Unlike existing activity trackers and smart...
WiseLogger offers user friendly data logging solutions
DataLogger is a Yerevan-based company, specialised in smart machines and data acquisition control systems. WiseLogger, created by DataLogger, is a flexible, configurable, and user-friendly turn-key solution which data loggers can use in a wide variety of applications, such as industrial manufacturing and automation, remote monitoring, automotive industry, data collection, pharmaceutical...
Himnark co-founder Ruben Osipyan
Himnark is an online platform that automates the management of personnel contracts and the calculation of salaries. The platform has been developed by an Armenian startup, which employs just 15 people, but is aiming high, helped by an EU innovation grant funded under the EU4Business initiative. The company was founded by Ruben Osipyan and Smbat Petrosyan, who studied together in the faculty of...
Pixomatic co-founder Garik Avetisyan
Pixomatic is an Armenian startup that has developed a state-of-the-art online photo editor, with a unique image-cutting feature. It allows instantly to remove a background from any photo, make it transparent, add different colours and filters, or switch the background with another photo. The mobile app has over 500,000 monthly active users and is available on Web , iOS and Android devices. Co-...
The Cloud Networks team at work
XCloud Networks fully automates the deployment and management of network infrastructure, enabling companies to own their network stack. This allows them to be vendor-agnostic (i.e. not tied to the products of a specific manufacturer), to reduce capital expenditure and increase stability. Based in Sunnyvale, California with an office in Armenia and 14 employees, XCloud Networks received an...
One of Vigen Mnatsakanyan's bee houses
Four new businesses have opened in the Lori region of Armenia with the support of the EU and its EU4Business initiative. The businesses, in the cities of Vanadzor, Stepanavan and Alaverdi, all launched their activities within the framework of the ‘ Boosting Competitiveness of regional SMEs ’ project, co-funded by the EU and the Republic of Armenia. Apitourism and apitherapy Apitourism and...
Artak Petrosyan in his workshop
Artak Petrosyan is a skilled craftsman who carves wood, particularly furniture in the city of Vagharshapat, in Armenia’s Armavir region . In August 2017, he started his own business after start-up training from an EU-funded project. Petrosyan took part in the ‘Successful Start’ start-up business support programme organised by the ‘Boosting Competitiveness of regional SMEs’ project, co-funded by...