Products, Companies & Markets

 

Canadian firm to launch production of food additives in Armenia
/Oct 9/PanArmenian/

With the support of Business Armenia, Canada’s Atlas Pharmaceuticals will invest $1.2 million to found a factory for the production of food additives in Armenia.

A corresponding Memorandum of Understanding was signed by the President of Atlas Pharmaceuticals Giro Jebenyan and the International Commerce team leader of Business Armenia Narek Aleksanyan.

Under the document, Atlas Pharmaceuticals will establish nutritional supplements production and a clinical research center in Armenia.

The investment program is expected to start in the first half of 2019, with 30 people set to be employed. The company representatives consider several production locations, including in the provinces.

“This investment comes after a Canadian outreach business mission led by Deputy Prime Minister and the Chairman of the Board of Trustees of Business Armenia Tigran Avinyan,” Business Armenia CEO Armen Avak Avakian said.

“The products made after the clinical research will be supplied to the local and EAEU markets,” said Jebenian.

“Last year Atlas Pharmaceutical purchased the QPharm and expanded the research division. Currently, it produces food supplements, herbal medicines and probiotics that are used to prevent or treat illnesses,” said Aleksanyan.


US tech start-up to set up shop in Yerevan
/Oct 9/Emerging Europe/Tamara Karelidze/

DISQO, a fast-growing tech company from the US has announced that it is to set up operations in Armenia. The founders of the company – American-Armenian entrepreneurs – have confirmed that they are ready to invest 13.5 million US dollars in the business. DISQO provides high quality first-hand consumer data to the world’s most extensive market research and analytics companies. The founders intend to recruit senior Armenian specialist, creating 30 ne jobs.

 “We are excited about tapping into a talented pool of people to help us build the product and scale our company. Armenia has a flourishing tech community which we want to connect with at this early stage,” said DISQO’s CEO, Armen Adjemian.

The Armenian office of DISQO’s will operate as an official branch of the company and not as an outsourcing team. In doing so, the company believes that it will double its potential and disrupt the industry with new initiatives and projects. The Armenian team will continue working for current customers, which include the world’s largest market researchers and a number of organisations listed in the Fortune 500.

The Armenian team will start work within the next month at the Tumo Centre for Creative Technologies in the country’s capital, Yerevan. DISQO promises new perspectives for developing the local IT industry and believes that it will strengthen the country’s economic relations with the international market.

DISQO was founded in 2015 by Armenian entrepreneurs, Armen Adjemian, Drew Kutcharian and Armen Petrosian in Los Angeles. It boasts the largest consumer research panel in the US.


Armenia seeking to build science park with Taiwan experience, says IT minister
/Oct 9/DigiTimes/

Deeply aware of Taiwan’s robust tech prowess, Armenia hopes that industries in both countries can build closer partnerships and that more young tech talent can complement each other through bilateral industrial exchanges, according to Hakob Arshakyan, Armenia’s minister of transport, communications and IT.

Arshakyan expressed the hopes in a recent interview conducted by Digitimes after he opened the three-day DigiTec Expo 2018 on October 5 at Yerevan Expo Center.

The 33-year-old Arshakysan said Armenia’s prime minister is only 42 years old and its deputy prime minister Tigran Avinyan was born in 1989 – all young leaders who grew up surrounded by digital technologies and are eager to gain industry experiences. He stressed that Armenia is eager to build a new-generation science park modeled after the Hsinchu Science Park (HSP) in northern Taiwan.

He continued that Armenia boasts special expertise in the military engineering sector – which was showcased in many related exhibits at DigiTec Expo 2018, including solar energy-controlled autocannons, large-size drones and the nation’s first autonomous vehicle.

Arshakysan also disclosed that Armenia will launch some foundations capitalized at over US$100 million each to support investment projects by tech startups, so as to more effectively encourage the development of startups.

Accompanying Arshakysan at the interview, Yvonne Chiu, chairperson of the World Information Technology and Services Alliance (WITSA), said that though a young country, Armenia has developed its own characteristics in many tech fields.

Chiu revealed that the 2019 World Congress on Information Technology (WCIT) will be held in October in the Armenia capital city of Yerevan, and that Taiwan will organize a large delegation to render the largest support to the event.

Chiu led WITSA member representatives from Malaysia, Belarus, Egypt, Greece and Taiwan to attend the DigiTech Expo 2018.

(Editor’s note: This is part of a series of reports about Armenia’s IT industry development.)
 

Canadian Atlas Pharmaceuticals to invest $1.2 million in construction of food additives factory in Armenia
/Oct 9/ARKA/

YEREVAN – With the support of Business Armenia, Canadian Atlas Pharmaceuticals Company will invest $1.2 million and found a food additive producing factory in Armenia, Business Armenia said today.  
It said the MOU was signed by the President of Atlas Pharmaceuticals Giro Jebenyan and the International Commerce team leader of Business Armenia  Narek Aleksanyan.
According to the signed document, Atlas Pharmaceuticals Company will establish a nutritional supplements production and clinical research center in Armenia. The investment program is expected to start in the first half of 2019 and employ around 30 people. The company representatives consider several production locations, including those in the regions.
“Our team promotes this with our daily work and we are happy that business arrangements gradually turn into signed documents and investments. This investment is a result of a Canadian outreach business mission led by Deputy Prime Minister and the Chairman of the Board of Trustees of Business Armenia Tigran Avinyan,” stated the CEO of Business Armenia  Armen Avak Avakian.
“After the clinical research, the herbal medicine and natural products will be supplied to the local and EAEU markets,” said the President of Atlas Pharmacy Company  Giro Jebenian.
“Last year Atlas Pharmaceutical purchased the QPharm and expanded the research division. Currently, it produces food supplements, herbal medicine and probiotics that are used to prevent or treat illnesses,” said the team leader of Business Armenia Narek Aleksanyan.
 

RINArmenia: The future of Internet launched in Armenia by Louis Pouzin
/Oct 10/Panorama/

TUMO center in Yerevan hosted today the La Francophonie Economic Forum where Famous French scientist, one of the forefathers of the internet, Executive Director of Open-Root organization Louis Pouzin announced the launch of RINArmenia project. 
“The history of internet started 50 years ago, and today we have reached a point when internet is no more comfortable. What did we do then? There are young people who pondered on this” Pouzin said, introducing his colleague John Day who has been the author of the principles behind RINA and Hayk to present the latest technological revolution in the sphere of internet.
“This is an unprecedented opportunity that will allow us to move forward and record another revolution,” Hayk announced the launch of RINArmenia. “We should turn Armenia into a center of future internet,” added he.
The Recursive Internetwork Architecture (RINA) which is also referred as the future of internet is a new computer network architecture proposed as an alternative to the currently mainstream TCP/IP model. RINA’s fundamental principles are that computer networking is just Inter-Process Communication or IPC, and that layering should be done based on scope/scale, with a single recurring set of protocols, rather than function, with specialized protocols.
Over the past 5 years the project envisaged establishing of expert centers to promote knowledge, develop numerous applications and apply them in the national contexts. Over the coming 18 months a group of scientists and researchers will be formed in Armenia to operate the new computer network architecture and launch it throughout the country. 
 

French company interested in constructing a new ski repost in Armenia
/Oct 15/Panorama/

A French is interested in constructing a ski resort in Armenia following the economic forum of the Francophonie summit held in Yerevan. 

As Deputy Minister of Economic Development and Investments Mane Adamyan wrote on her Facebook, the French company Poma, which is also known as Pomagalski S.A. has installed about 7800 gondola lifts, funiculars, aerial tramways, people movers, and surface lifts for 750 customers worldwide.

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