Linkedin X-twitter Youtube
Apply Now
Application Guide

Welcome to

ACE Armenia

Join us in Armenia and become part of the ACE network of decision-makers driving economic transformation

Building bridges, connecting people

EXPLORE PARTNERSHIPS IN KEY SECTORS

ICT and
Engineering

Talent Development and STEM Education

Agriculture and Agribusiness

Sustainability and Renewable Energy

Viticulture and Winemaking

Tourism and the
Cultural Economy

What sets Armenia Apart

Skilled Workforce

Armenia is known for its talented workforce, particularly in industries such as technology and engineering. The country places a strong emphasis on education, with a well-developed system that includes universities and vocational schools.

Technological Advancement

Armenia is emerging as a technology hub, with a vibrant startup ecosystem and a rapidly growing ICT sector. The country’s focus on information technology, software development, and innovation has attracted global attention and investment. 

Geographical Advantage

Positioned at the crossroads of Europe and Asia, Armenia serves as a gateway to multiple markets. Its proximity to the European Union, the Middle East, and the Commonwealth of Independent States (CIS) offers opportunities for trade and access to a diverse customer base.

Supportive Business Environment

The Armenian government has implemented various reforms to enhance the ease of doing business, streamline regulations, and attract foreign investment. Initiatives such as tax incentives, simplified procedures, and business-friendly policies have contributed to a favorable business climate.

Access to Funding and Support

Armenia offers access to various funding sources and support mechanisms for startups and businesses. Business incubators, accelerators, and venture capital funds provide resources, mentorship, and financial backing to foster entrepreneurial growth.

Tourism Potential

Armenia’s rich cultural heritage, historical sites, and natural beauty make it an attractive destination for tourism. The country’s efforts to promote its tourism industry offer opportunities for businesses in hospitality, travel, and related sectors.

Partner Do Business Network Learn Connect WITH ACE

About ACE

Explore ACE and its impact in the Americas

ACE Home Page

ICT and Engineering

Armenia’s Thriving IT Sector: Growth, Innovation, and Opportunity: 
Armenia’s IT industry has surged with remarkable growth and development in recent years, establishing itself as one of the fastest-growing sectors in the country, boasting a steady annual growth rate of 20%. Its rise as a coveted destination for technology companies and startups is attributed to a conducive business environment, a proficient workforce, and proactive government support. The nation has cultivated numerous technology hubs and innovation centers, and has even nurtured several IT Unicorns. Armenia is distinguished by its robust community of highly skilled IT professionals, bolstered by a longstanding tradition of technical education upheld by prestigious universities and specialized programs.

Talent Development and STEM Education

Empowering Tomorrow’s Innovators: STEM Education in Armenia:
Armenia’s commitment to STEM education is exemplified through its collaborative partnerships with educational institutions, ensuring a continuous supply of highly skilled IT professionals to bolster the growth of the ICT cluster. Alongside leading universities offering comprehensive IT programs, Armenia hosts a range of specialized IT educational organizations. These institutions share a unified goal: to equip the nation’s youth with cutting-edge knowledge and practical experience in the dynamic field of information and communication technology. This focused educational approach not only prepares the next generation for thriving careers in technology but also solidifies Armenia’s stature as a global hub for IT innovation and excellence.

Agriculture and Agribusiness

Sustainable Agriculture in Armenia: Vitality, Innovation, and Environmental Harmony
Agriculture stands as a vital cornerstone of Armenia’s economy, contributing significantly to the national GDP and employing over a third of the country’s workforce. The sector is characterized by a nearly equal distribution between horticulture, accounting for 51%, and animal husbandry comprising 49% of Armenia’s agricultural activities. Armenia’s fertile landscapes and favorable climate provide ideal conditions for agricultural development, fostering the cultivation of diverse crops and the raising of livestock. The government’s vision includes promoting sustainable, innovative, and high value-added agriculture that harmonizes with the environment. This approach prioritizes the conservation of natural resources, the production of organic products, and the enhancement of the well-being of rural communities.

Sustainability and Renewable Energy

Advancing Renewable Energy in Armenia:
Armenia is making significant strides in the development of its renewable energy sector, with a focus on solar, wind, and hydroelectric power. Solar power plants, wind farms, and hydroelectric projects have been established to diversify the energy mix and promote sustainability. In 2022, hydropower constituted 21.8% of the energy output, while solar contributed 2.7%, and wind power made up a modest 0.02%. In total, renewable sources, including hydro, solar, and wind, collectively generated 2,183 GWh, accounting for 24.5% of the overall energy production21. In the first 3 quarters of 2023, the picture is more exciting. Electricity generated through renewables mounted 9%. By 2030 it is expected that the renewable energy generation will cover 50% of the country’s demand.

Viticulture and Winemaking

Armenia – The Sacred Land of Wine:
Armenia proudly upholds its ancient tradition, which spans over 6000 years, blending it seamlessly with modern technologies and scientific advancements. In recent years, Armenia has experienced a winemaking revival that has reinstated its viticulture heritage and re-established its prominence on the global wine stage. Winemaking has progressively evolved into a cornerstone of Armenia’s economy, marked by the annual establishment of new vineyards and the opening of modern wineries. Today, Armenia boasts a total vineyard area of 15,200 hectares and is home to 161 wine producers. The country is rich with over 400 indigenous grape varieties, with 55 specifically cultivated for winemaking purposes.

Tourism and the
Cultural Economy

Armenia – The Hidden Track:
Nestled in the South Caucasus region, Armenia is a captivating small country renowned for its remarkable cultural heritage and millennia-old history. From ancient monasteries perched atop rugged mountains to sweeping natural landscapes, Armenia beckons with its vibrant cultural scene and warm hospitality. Over the years, Armenia’s tourism industry has flourished, drawing a growing number of visitors eager to explore its distinctive culture and delve into its rich historical tapestry.