Armenian startups to receive investment from business angels

Business angels will finance innovative startups within the new Global Startup initiative in Armenia.

Armenian Minister of Transport, Communication and Information Technologies Vahan Martirosyan announced that today.

The Minister noted that Global Startup is realized by Global Credit UCO in cooperation with Renesa Investment Company.

Out of the startups that apply until April 13, 10 will be selected and will receive total USD 200k funding. The amount of investment will increase in the future.

The application for the program is available here.

The next step of the program implies creation of a business angels’ club in Armenia, or a private venture company.

Vahan Martirosyan noted that the selected startups will receive not only financial support, but also mentoring, access to a broad business sector, a work place, as well as assistance in book-keeping and legal issues.