SUNNYVALE, Calif., August 19, 2024 — Plug and Play, a leading global innovation platform, and the Ministry of High-Tech Industry of Armenia announced today a new partnership to launch a 26-week accelerator program in Yerevan, Armenia. This initiative aims to accelerate the growth of Armenia's most promising startups and solidify the country's position as a rising tech hub in the region.
"We are thrilled to partner with the Ministry of High-Tech Industry of Armenia to launch this accelerator program," said Saeed Amidi, CEO and Founder of Plug and Play. “This partnership will help Armenia’s tech ecosystem by helping local startups connect with global resources and grow their businesses. I look forward to the exciting innovations this accelerator will bring.”
The program will select the top 20 startups from Armenia's vibrant ecosystem, providing them with exclusive access to international investors, world-class mentors, state-of-the-art office space, and introductions to Plug and Play's extensive network of corporate partners.
The Ministry of High-Tech Industry of Armenia has played a pivotal role in driving innovation in the region. This collaboration with Plug and Play further amplifies their efforts to foster a thriving entrepreneurial environment. By integrating Plug and Play’s global expertise, the collaboration aims to accelerate Armenia’s innovation ecosystem, fostering collaboration among local VCs, universities, corporations, government agencies, and SMEs.
“We are confident that this collaboration will be effective and will introduce new approaches to developing Armenia’s startup ecosystem,” said Ruben Simonyan, Deputy Minister of the High-Tech Industry of the RA. “Our state policies include strategic directions and support programs for the sector, and we recognize the role of international and multinational companies in advancing this effort.”
“This accelerator program is a testament to the growing recognition of Armenia's potential as a center for technological innovation. "Armenia has a wealth of talented entrepreneurs and we are excited to help them reach their full potential. This program will provide them with the resources and support they need to scale their businesses and make a global impact," said Alfredo Gomez Soria, Sr. Partnerships Manager at Plug and Play.
By combining Plug and Play's global expertise with the Ministry's local insights, this partnership is set to create a lasting impact on Armenia's startup landscape, paving the way for a new generation of successful Armenian tech companies.
About The Ministry of High-Tech Industry Armenia
The Ministry of High-Tech Industry of the RA started its activity on May 8, 2019. The goal of the Ministry is to create and strengthen conditions for balanced and sustainable development of high technologies, digitalization, cyber security, innovative technologies, communication, post, Internet, air and space sectors, as well as to ensure the economic growth of the state.
About Plug and Play
Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 50+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/.
Contact
Alfredo Gomez
alfredo@pnptc.com
Heghine Muradyan
heghine.muradyan@hti.am