Alexander Galitsky: Armenia should use Diaspora’s IT potential

Businessman Alexander Galitsky is the co-founder and Managing Partner of  Almaz Capital Partners venture fund. He also manages a number of IT companies.

The Russian Forbes named him the “powerful figure” in Russian IT and Internet business.

Alexander Galitsky took part in Digitec Expo, October 3. As a public speaker, he participated in “Venture Capital against Startups” discussion organized by Granatus Ventures.

Itel.am talked to him after the discussion.

- How would you estimate the Armenian startup ecosystem?

-It is quite difficult for me to express my point of view, as I only started to get to know Armenian startups. I know that there are plenty of startups in Armenia that think globally. I invested in a company that consisted of Ukrainians and Armenians in the past and got informed about the quality of Armenian startups from there.

-Which American company are you talking about?

-I can’t tell you (smiles- edit.) I was acquainted with a number of companies during Expo that had received support from Granatus Ventures. I am interested in what I have already managed to see.

-How risky are the investments in Armenian startups?

-Investments are risky to the extent as they are carried out in a foreign country.

Seeing a team that has global ambitions is more important. All the countries in the region have small technological market and their main goal is the American market now.

From this perspective I think if there are smart people, good ideas can be gathered anywhere. I have a couple of Armenian friends and I know their ambitions. All in all, I think that something can be done here.

-Can you mention those 3 main steps that will turn startup into a successful business?

-Of course. Everything starts from the idea, then the team building-gathering smart people around you. Inspire of anything one must think globally and take into

consideration what is happening in the international market”.

-What would you advise to Armenian startups?

-Armenia has a huge advantage in this sphere, as it has powerful Diaspora and all Armenians that live in different parts of the world are very connected to each other.

So, my advice to Armenian startups is to find successful Armenians around the world take consultation from and make friends with them. Diaspora’s potential should be utilized in the IT sphere”.

Narine Daneghyan talked to Alexander Galitsky