ArmTech 2012, 5th global high-tech industry business forum and conference took place on 10 December 2012 in Stanford University, Silicon Valley, USA, under the high patronage of the Prime Minister of the Republic of Armenia Mr. Tigran Sargsyan.
More than 300 representatives of Government, Academia, and IT/High-tech industry professionals and high-level executives from Armenia, US, Europe and CIS, as well as the representatives of large multinational corporations such as Intel, Cisco, Microsoft, IBM, Synopsys, D-Link, Mentor Graphics, and National Instruments.
Panel sessions evolved discussions around following topics:
HIGH TECH INDUSTRY IN ARMENIA – RECENT DEVELOPMENTS AND SUCCESS STORIES
RESEARCH, INNOVATION & PROFESSIONAL DEVELOPMENT
BUSINESS ENVIRONMENT & INVESTMENT OPPORTUNITIES
LOOKING AHEAD: CHALLENGES, OPPORTUNITIES AND FACTORS FOR SUCCESS.
In the scope of the conference a Memorandum of Understanding was be signed by and between the Minister of Economy Mr. Tigran Davtyan on behalf of the Government of Armenia and Mr. Raffi Kassarjian on behalf of “Corporacion America”, with respect to the establishment of semiconductor product manufacturing operation and IT research and development center in Armenia. The aim of this cooperation is to establish a semiconductor manufacturing and R&D Center in Armenia that will foster the development of IT sector, creation of new jobs and formation of image of Armenia as a regional technology hub.
Another Memorandum of Understanding signed during the 5th ArmTech conference was signed by the Minister of Economy Mr. Tigran Davtyan, on behalf of the Government of Armenia, and the Vice President Mr. John Davies, on behalf of Intel Corporation, with respect to Collaboration in the field of Education and Research and Development. The parties will collaborate to implement a range of large-scale and long-term initiatives directed to formation of an enabling environment for the development of IT market in Armenia, and its promotion to global IT community, creating conditions for R&D in the IT sector of the country.
In the framework of the event, an Armenian IT representation office was officially launched at Plug&Play Technological Center in Silicon Valley.
The opening of the center was attended by an official delegation headed by the RA Prime Minister Tigran Sargsyan, and other high-level representatives of IT sector from Armenia and other countries.
The Armenian IT sales representative office in Silicon Valley, will act as a hub to foster the development of sales and investment opportunities for Armenian IT companies in the US.
During the representation office opening ceremony a Memorandum of Understanding was signed by the Minister of Economy Mr. Tigran Davtyan, on behalf of the Government of Armenia, and Mr. Pierre Hennes, on behalf of the governing body of the Fund, with respect to the establishment of the first early stage Venture Capital fund in Armenia.
Venture capital plays a key role in development of technology-based entrepreneurship. As such, currently there is a lack of financing sources for start ups in Armenia. Realizing this gap, the Government of Armenia continuously works towards the development of national VC institutions providing co-financing for establishment of the first venture capital fund in Armenia.
The managing team of the fund will now work to establish a Governing body of the fund. The team has already formed an international consulting committee that will help in evaluation of investment opportunities and foster the development of investment portfolio.