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Gyumri Tech Park to Open in September

23.07.2014   17:19

A technology business park in Gyumri, Armenia’s second largest city in the northwestern province of Shirak, is set to officially open in September, Bagrat Yengibarian, head of Enterprise Incubator Foundation (EIF), said in an interview with Arka news agency. The business park will house several tech firms and some of their research centers.

Yengibarian said the center already houses several well-known companies, including Rostelecom, D-Link, E-works, Digital Pomegranate, Time Production, SkyLine, and Gyumri Information Technology Center (GITC).

He said the Gyumri tech center will conduct a grant competition for start-up companies, which may be provided with as much as $50,000.

The business park was created jointly by the government of Armenia, Enterprise Incubator Fund, and the World Bank.

On Jan. 9, the Armenian government passed a decision to award the Enterprise Incubator Fund the right to manage a government assistance plan designed for Gyumri Technology Center. Once the center is formally registered the Enterprises Incubator Fund will also get its property for 20 years free of charge.

The technology center will shelter enterprises dealing with advanced and information technologies, tourism, jewelry, and design. It is supposed to operate as an incubator of small and medium-sized businesses engaged in hi-end technologies to boost the country’s export potential.

The construction began in April 2012. Overall, some $13 million will be spent on construction of two buildings –$4.5 million was provided by the government and $8.5 million by D-Link International as part of its plan to establish a research and testing center in Gyumri.

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