Sectorial Brochure IT Sector of Armenia/ BA - Page 9

Innovative Technologies Ecosystem £ Access to finance: venture capital funds, support of donor organizations (USAID, EBRD, EU), loan guarantees provision for small and medium size companies £ The government will support 427 companies in the IT sector until 2020-2022, freeing them from corporate tax and collecting only 10% income tax There are 3 Free Economic Zones (FEZ) in Armenia: Alliance (specialized in ICT, engineering and pharmaceuticals), Meghri (on the Armenian-Iranian border with no sector limitations), and Meridian (specialized in jewelry making). Residents of FEZ are exempt from all taxes except payroll taxes. There are also on site “one stop” services and custom registrations. £ The World Congress on Information Technology (WCIT) 2019 will be held in Armenia £ TUMO Center for Creative Technologies received an award for “Fulfilling the Promise of the Digital Age” from Chairman of the Commission Yvonne Chiu at the World Congress on IT (WCIT) in Hyderabad, India in 2018 th £ TUMO Paris center opened its doors on the 25 of September in 2018. Paris is the first international location of the TUMO Center for Creative Technologies. It will provide free education to around 1500 Parisian teenagers. They will be able to study filmmaking, computer programming, animation, graphic design, game development, 3D modeling, drawing and music £ Armath Engineering Laboratories won the "Sustainable Growth" nomination at WITSA Global Excellence Award and "The best provider of IT education" award in GITI-2016 regional event in Tbilisi £ In 2018, UITE (Union of Information Technology Enterprises) and Lexicon PR Management Service of India signed a memorandum of cooperation, according to which the initial project of the Armenian “Armath” engineering laboratories will be implemented in Indian schools 6 IT companies founded by Armenians attracted $1 million or more investments in 2017 USD 297.9 million 8