On 8 June, a partnership for the establishment of an EU-supported Startup Factory for innovative tourism was announced in Armenia. The Factory will be created as part of the EU4Business initiative by SAP, a German multinational software corporation, and BANA (Business Angel Network of Armenia).
"The start-up ecosystem in Armenia is a driver for economic growth, good jobs and digital transformation. The launch of the SAP Startup Factory by BANA, supported under the EU4Business framework, reveals the potential of the Armenian ICT sector and is a stepping stone for the ambition of the country to be a global technology powerhouse," said Andrea Wiktorin, EU Ambassador to Armenia.
The EU4Business Innovative Tourism for Armenia project is co-funded by the European Union and the Federal Ministry for Economic Cooperation and Development (BMZ), and implemented by German Development Cooperation GIZ.
