Armenian Virtual Bridge Aims to Make Armenia an Advanced Technology Hub

YEREVAN (Armradio) — The Armenian Government on Thursday approved the implementation of the Armenian Virtual Bridge program – a project worked out by the Ministry of High-Tech Industry aimed at turning Armenia into a competitive and technologically advanced country.

As a result, 45 Armenian entrepreneurs will have the opportunity to visit the Silicon Valley in 2020 to gain entrepreneurial and business knowledge and skills to present their products correctly, to meet investors and venture capitalists.

Through the program, Armenia gets the opportunity to connect with the world’s leading technology hubs using the potential of the Diaspora.

The most important component of the project is that it will ensure a technological representation in the Silicon Valley. For this purpose, an apartment of up to 250 square meters will be rented in the city of San Jose, where participants will live and work under the Virtual Bridge program.

The government sees this as the best way to make new connections and ensure a permanent Armenian technological presence. Within the framework of the project, 15 startups and entrepreneurs will have the opportunity to take a 7-week training at Draper University.

The advantage of this collaboration is that by the end of the course all participants will present their products to Draper Venture Network founder Tim Draper and his team, creating an exclusive opportunity for Armenian startups to attract investment from globally recognized investment companies.

The Armenian Virtual Bridge program will also create representative offices of Armenian companies in the United Arab  Emirates and Qatar, which will give them the opportunity to expand  their field of activity, find new business partners, and conclude  mutually beneficial agreements.