IT Venture Fund To Operate In Armenia By Yearend

IT VENTURE FUND TO OPERATE IN ARMENIA BY YEAREND

PanARMENIAN.Net
April 11, 2012 – 15:13 AMT

PanARMENIAN.Net – A venture fund for financing startups in IT sector
will operate in Armenia by the end of 2012, director of Enterprise
Incubator Foundation (EIF) said.

As Bagrat Yengibaryan told a press conference on April 11, the first
venture fund will be established through government assistance of
USD 6 mln, with 50% assistance to be ensured by the private sector.

“A complete model of the fund has already been developed, with
requirements specification planned in the near future to make the
project feasible by the end of the year,” Mr. Yengibaryan said.

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