EIF: Armenia should develop unconventional technological directions

Director of Enterprise Incubator Foundation Bagrat Yengibaryan said today that Armenia keeps step with other developing countries, when it comes to elaboration of Artificial Intelligence solutions.

“We are all at the same level, and planning the next step will determine who is going to succeed and become the leader. Not trying would be the worst choice,” Director of EIF told journalists.

Bagrat Yengibaryan remarked that the rules of the game have changed in the world, and we should make use of it, developing several principal directions, which will raise the economy to a completely different level.  

“A country may become a game changer in the sphere of automaking, even without having automaking traditions. For example, if we create innovative batteries for Tesla automobiles, we can as well become world’s leader in that sphere. It was not possible five years ago, when traditional businesses dictated the rules. If you did not have decades of automaking traditions in the sphere, then you would not succeed,” Bagrat Yengibaryan noted.

He informed that within the frames of the official opening of Innovative Solutions and Technologies Center, Smarter Armenia Hackathon’ 16 will be organized (in Armenian) on November 10-11 by International Science and Technology Center (ISTC) in cooperation with IMB, Enterprise Incubator Foundation (EIF) and USAID.   

Touching upon investments, Director of EIF noted that 60% of investments in Armenian IT come from USA, while 10% are from CIS countries.

“While market and investments are mostly American in IT sphere, consumer market is basically from CIS countries. This evidences that integrated engineering solutions are in great demand in CIS,” Bagrat Yengibaryan noted.