Gev Balyan
Armenia was once the center of IT innovation for the USSR. A
turbulent history has stifled the economy, but things are starting to
look up for the Caucasus republic. A highly-skilled, post-soviet
engineering workforce and a diaspora of advocates, combined with new
government initiatives, are igniting renewed growth in Armenia’s IT
sector. These businesses are creating new technologies — from
award-winning mobile apps to world-first presentation tools — recognized
across the globe and many startups are making their way to the US.
The Armenian tech industry is growing at an annual rate of 20 percent, greatly exceeding the country’s two percent economic growth. Annual tech revenues
from some 400 IT companies make up $475 million and by 2018, it is
estimated this industry will be the dominant sector driving new wealth
for the economy.
