The Investor Tour, held for the first time in Armenia as part of WCIT2024/DigiTec, achieved great success
14-10-2024 14:15:37 | Armenia | Press release
Yerevan, Armenia - October 14, 2024. For the first time in Armenia, the Investor Tour was held as part of the World Congress on Innovation and Technology (WCIT2024/DigiTec). 35 investors from 12 countries arrived in Armenia to participate in an event aimed at exploring Armenian startups, companies, and investment opportunities.
Organized in collaboration with BANA Angels, this large-scale event achieved great success, providing Armenian startups with a unique opportunity to discover new financial opportunities and markets. The visiting international investors had the chance to attend WCIT2024/DigiTec, explore the conference grounds, and explore Armenia's vibrant startup ecosystem.
“WCIT2024/DigiTec, DigiTec Expo, and similar events create opportunities to showcase the local technological and innovative potential to international investors. By collaborating with BANA Angels, we were able to bring investors and startups closer, present the Armenian startup ecosystem and its developments, establish promising connections, and design new projects. I am convinced that such tours should be organized frequently and with the same high level of quality for the further development of the ecosystem,” said Sargis Karapetyan, CEO of the Union of Advanced Technology Enterprises (UATE).
The investors had the opportunity to visit some of Armenia's unicorn startups, collaborate with entrepreneurs, and explore the innovative projects driving the region's growth.
“We are delighted that in such a short period, we received significant interest from our international partners, who were eager to visit Armenia, explore the local startup ecosystem, and establish new connections. The Investor Tour was highly successful and took place in a very productive atmosphere. We already have concrete interest in deepening cooperation in several directions, and we are actively working towards that,” said Sona Veziryan, director of BANA Angels.
The cooperation with international investors can significantly enhance the global visibility of Armenian startups, fostering innovation and partnerships. This will not only help startups expand their geography but also ensure their competitiveness in the international market, contributing to economic development in the IT sector and helping them to scale.
As part of the Investor Tour, an LP/GP investment event was also held for international investors and fund managers. This event provided a platform for partners to meet, discuss fund operations, investment opportunities, and strategies, as well as foster collaboration and build long-term relationships.
At the event, Armenian venture capital (VC) companies were presented, and a panel discussion on international investments in Armenia took place, along with a presentation on Armenian startups and the local ecosystem. The LP/GP event was initiated by Armenian venture capital firms Formula VC, Granatus Ventures, and Big Story VC.
Specifically, Formula VC, Granatus Ventures, and Big Story VC shared insights about their investment strategies, key portfolio participants, and future visions. The presentations were followed by a panel discussion on international investments in Armenia, where international investors shared their views on the potential and challenges of investing in Armenia’s tech ecosystem. Ten Armenian startups conducted pitching sessions and held one-on-one meetings with investors.
"Armenia is rapidly becoming a hub for technology and innovation, and this event is a testament to the progress we are making. Through this event, we showcased the potential of Armenian startups and built connections between Armenian innovators and international investors. I am confident that this event will yield excellent results in the future," said Karen Vardanyan, General Partner of Formula VC.
From October 4-7, the most awaited technological event, of the year, WCIT2024/DigiTec, took place in Armenia at the Sport and Concert Complex after Karen Demirtchian, with the DigiTec Expo in the Meridian Expo Center. Under the headline “THE POWER OF MIND: AI Beyond Limits, Within Ethics,” WCIT 2024/DigiTec served as a global platform to amplify the impact of information technologies, emphasizing the importance of applied sciences, investments, and presence across diverse regions and economies.
About BANA Angels: BANA Angels: Founded in 2017, BANA Angels is the first and most active angel network in Armenia, pivotal to the Armenian startup ecosystem with a portfolio of over 31 dynamic startups. Our standout performers include Podcastle (Series A led by Mosaic Ventures), 10Web (backed by Sierra Ventures and AI Fund), and EasyDMARC (Series A led by Radian Capital ). At BANA Angels, we co-invest with esteemed partners such as Sierra Ventures, Point Nine, Berkeley SkyDeck, RTP Global, and Mosaic Ventures, ensuring our startups have access to a powerful and expansive network.
About WCIT: The World Congress on Innovation and Technology (WCIT) is a global catalytic platform of the World Information Technology and Services Alliance (WITSA) - a consortium of over 80 information technology (IT) industry associations from economies around the world. For 40 years, technology leaders—CEOs and investors, policymakers and government officials, academics and technologists—have joined in this annual event to discuss the state of the industry, where it is headed, and what it means for our future. Past speakers include Bill Clinton, Vint Cerf, Bill Gates, Ginni Rometty, Larry Ellison, Anne Mulcahey, Faqir Chand Kohli, and Michael Dell. .
About UATE: The Union of Advanced Technology Enterprises (UATE) represents over 160+ high-tech companies in Armenia, including both local and international firms. UATE is dedicated to driving industry growth through key initiatives: establishing comprehensive technology education across Armenia (Armath Engineering Makerspaces), facilitating global market access, and exchanging expertise through organized delegations. Additionally, UATE significantly influences the legal field through policy-making and government cooperation, fostering a competitive yet collaborative business environment.
UATE is renowned for organizing major events that highlight Armenian technological advancements. Notably, it hosted WCIT in 2019 and is set to host it again in 2024, while also annually organizing the DigiTec Expo for nearly 20 consecutive years showcasing innovations to both local and global audiences. Through these efforts, UATE continues to elevate Armenia’s presence in the global tech landscape.
About DIGITEC: The DigiTec exhibition is an annual event organized by the Union of Advanced Technology Enterprises (UATE) since 2005, showcasing Armenia's tech potential, innovation, and prospects. With up to 80,000 attendees each year, the exhibition serves as a platform to explore global technological trends. DigiTec continues to evolve. In 2023, UATE organized two simultaneous exhibitions, each featuring 120 companies and hosting over 100 speakers. By the end of 2023, participating companies facilitated over 100 million AMD in transactions during DigiTec2023.
DigiTec 2024 is scheduled to take place this year from October 4th to 6th at the "Meridian" Expo Center (Voskerichinen 1, Yerevan).
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