Fact: Armenia Will Require 1.3 Billion Dram Annually to Become a Technological Center

The "Fact" newspaper reports that the Ministry of High-Tech Industry has presented a draft for confirming the "Armenian Virtual Bridge" program on a unified site for discussing legal acts.

The justification for this decision states that the adoption of the draft is based on Point 7.1 of the Government’s decision No. 65-A dated February 8, 2019, which aims to transform Armenia into a high-tech, industrial country. One of the steps to achieve this goal and ensure the development of high technologies is the design and implementation of the "Armenian Virtual Bridge" program.

This program will provide the opportunity to leverage Armenian scientific intellect and capabilities, as well as the potential of the diaspora, to expand the geography and possibilities of cooperation with global tech giants.

The launch of the program is scheduled for 2020, and the state budget will allocate 1.3 billion dram annually for it.

The ministry’s proposal indicates that this program is the first and largest of its kind and will be implemented directly in conjunction with the diaspora’s tech community and the Armenian General Benevolent Union.

It will enable Armenian startups and entrepreneurs to visit Silicon Valley with state support and a specially developed agenda, and participate in improvement programs.

For more details, refer to the current issue of the newspaper.