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1st technological venture foundation to be established in Armenia

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  • 1st technological venture foundation to be established in Armenia

    ARKA News Agency, Armenia
    July 4 2005


    FIRST TECHNOLOGICAL VENTURE FOUNDATION TO BE ESTABLISHED IN ARMENIA


    YEREVAN, July 4. /ARKA/. The first technological venture foundation
    will be established in Armenia, Director of Enterprise Incubator
    Foundation Bagrat Yengibaryan informed about it during today's
    press-conference. According to him, the issue is being negotiated in
    the framework of World Bank Project for IT (Information Technologies)
    development, with participation of donors and private investors.
    "Negotiations are planned to be finished during upcoming months, and
    it is planned to concretize issues of foundation's establishment till
    autumn", Yengibaryan told. He mentioned that venture foundation will
    be able to perform some management, and it will allow local investors
    to direct their funds in profitable fields, including information
    technologies. A.A. -0--
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