Minister Mkhitar Hayrapetyan Visits Armenia\'s First Unicorn Company- Picsart

RA Minister of High-Tech Industry Mkhitar Hayrapetyan, together with Deputy Minister Ruben Simonyan, visited Armenia’s first unicorn, Picsart, on January 8. Picsart is one of the world’s largest creative media editing platforms, with over 150 million monthly active users.

Accompanied by Picsart’s Founder and CEO, Hovhannes Avoyan, External Relations Director, Madlene Minassian, and Director of Organizational Effectiveness, Nazeli Petrosyan, the Minister toured the Picsart office to get acquainted with the company's working conditions, achievements, development programs, and goals for the coming years.

It was noted that more than 1 billion images are created, edited, and shared on Picsart every month. Picsart places particular importance on the development of artificial intelligence and machine learning.

Mkhitar Hayrapetyan was also introduced to the activities of Picsart Academy, a new-generation university. In this context, potential avenues for cooperation were discussed. Ideas were also exchanged on expanding Picsart Academy beyond Armenia's borders and into the regions.

The Minister noted that the technology sector is one of the Government's priority areas, the development of which largely depends on how the state collaborates with private companies. Various topics related to cooperation were discussed, including legislative reforms focusing on sector development.

Thoughts were exchanged on avenues for cooperation. The importance of organizing meetings in such a format was emphasized, as they significantly contribute to strengthening collaboration with sector companies.

The meeting was also attended by Armen Baldryan, Chairman of the UEICT.

Picsart has offices in several countries worldwide. More than 400 of the company's employees work in the Yerevan office. Every second, more than 800 photos are edited worldwide using the Picsart app, which is available in 185 countries and 30 languages.