Gyumri Technopark To Be Launched by Late 2008

GYUMRI TECHNOPARK TO BE LAUNCHED BY LATE 2008

YEREVAN, MARCH 29, NOYAN TAPAN. It is envisaged that development of the
Gyumri technopark’s project will be completed and its implementation
will begin by late 2008, the RA minister of trade and economic
development Nerses Yeritsian stated, adding that the technopark will be
specialized in IT, tourism and fashion sectors.

According to the minister, the vision of creation of Gyumri technopark
should be described promptly based on the results of his March 28 visit
to Gyumri, which will facilitate cooperation of the RA ministry of
trade and economic development, which coordinates this work, and the
other sides interested in the technopark’s creation.

In his words, one purpose of establishing Gyumri technopark is to link
the university system to business so local higher educational
institutions also have to participate in the creation of the
technopark. The minister said that there are enterprises in the city of
Gyumri which are prepared to take part in the technopark’s program
(also by allocating their areas), such as Gyumri branch of the Armenian
Center of Scientific Information, the Gyumri IT Center. The latter,
according to N. Yeritsian, is already a business incubator by its
nature. It has a successful history of work, which shows that its
experience may be used by Gyumri technopark.

Representatives of leading companies of IT industry (Microsoft,
Synopsys, National Instruments), as well as tourism and fashion sectors
have been involved in foundation of the technopark. Some international
structures (the World Bank, the USAID, the European Bank for
Reconstruction and Development) have agreed to participate in the work
on creation of Gyumri technopark.

N. Yeritsian said that in 3-5 years after its being launched, the
technopark may be able to assist with creation of over 100 small and
medium enterprises. There is a goal to turn one or two of them into big
enterprises to enter international market within this period. The
minister expressed an opinion that Gyumri may become a business center,
taking into account its cheap labor and infrastructures (as compared
with Yerevan), development of the capacities of Gyumri airport and the
business skill of local residents.

The minister announced that the state is ready to provide small grants
to Gyumri technopark’s researchers for the development and
implementation of ideas, as well as to set up an advisory structure
with the aim of "transforimg these ideas into business", which in its
turn will help find financing sources for the technopark’s enterprises
and attract capital of the Diaspora. It is envisaged to allocate 80 mln
drams (about 260 thousand USD) from the state budget for Gymri
technopark-related work.

N. Yeritsian said that the experience of implementing the Gyumri
technopark program will be used for developing a larger technopark
project near Yerevan.