The Ministry of High-Tech Industry of the Republic of Armenia has created the Armenian Virtual Bridge program to become a competitive and technologically advanced country in the region. We aim to connect Armenia with other international technological centers — using the power of the Armenian scientific mindset and tapping into the opportunities and potentials of the Diaspora. This program is derived from the policy adopted by the Government, aiming to turn Armenia into a high-tech industry country.
The program is designed by the Silicon Valley Chapter of Armenian General Benevolent Union (AGBU), based on the Memorandum signed during the official visit of the delegation headed by the Prime Minister of Armenia, Nikol Pashinyan. The implementation of the program is done by AGBU, as it is the largest Armenian non-profit organization and can thoroughly use the entire potential of the Diaspora connections they have developed and strengthened over decades.
The program consists of Incubation and Acceleration components designed to meet the needs of Armenian companies.
The Incubation component of the program is carried out with Draper University, which is a leading entrepreneurial training program in Silicon Valley. Fifteen entrepreneurs will be granted state scholarships to study there. Upon their return to Armenia, they will share their acquired knowledge, experience and culture with the startups in the regions’ technology parks.
The Acceleration component of the program includes direct participation of leading Silicon Valley experts in a variety of industries, the founders and directors of the internationally recognized companies, heads of investment firms, and educators from renowned universities. They will teach workshops and serve as mentors — providing the companies with professional consultation during the entire program.
With educational programs and mentors, the Virtual Bridge Accelerator is aimed at preparing entrepreneurs for the procedures and mechanisms of entering international markets and directly facilitating business development opportunities in Silicon Valley. The sessions of the program are formulated with the aim of providing entrepreneurs training on a vast array of technical and business topics. And the connections established by AGBU over the years, with representations from various countries of the world, the powerful Armenian Diaspora will contribute to the long-term results of the program.
Fifteen companies will be selected for the first cohort of the Virtual Bridge Accelerator. The goal is to select companies that have developed a prototype or have already launched a product or service. Given their stage, these companies will be looking to enter new international markets or working on scaling.
The companies that participate in the program will be able to develop connections in Silicon Valley, uncover avenues to attract new clients, and meet with investors for fundraising opportunities.