The Government of the Republic of Armenia approved the draft decision “On Making Amendments and Additions to Government Decision No. 2060-N of December 27, 2024” presented by the Ministry of High-Tech Industry of the Republic of Armenia, which envisages regulating the process of signing a long-term contract with the internationally renowned accelerator Plug and Play.

The draft was presented at the July 3 Government session by the Minister of High-Tech Industry, Mkhitar Hayrapetyan, emphasizing that maintaining continuous cooperation is an essential precondition for the consistent development of Armenia’s startup ecosystem.

Based on the fact that there is already a successful program implemented in cooperation with Plug and Play and that the organization is thoroughly familiar with the Armenian market and startup environment, it is proposed to make the cooperation continuous, enabling further development of the results achieved over the next three years.

Plug and Play will establish a branch in Armenia and, during the period of cooperation, will implement incubation, pre-acceleration, and acceleration programs. The entry and long-term presence of such a prominent international accelerator in the country is expected to have a substantial impact on the development and competitiveness of Armenia’s startup ecosystem.

It is noteworthy that back in 2023–2024, the Ministry committed to inviting one of the world’s top five accelerator organizations to Armenia. As a result of a grant competition announced in 2024, Plug & Play Germany GmbH was declared the winner. The organization implemented a 26-week acceleration program in Armenia, providing consulting services, support for business development and networking, promotion of innovation, and individual mentoring.

During the program, 46 highly qualified experts from different countries visited Armenia. They conducted one-on-one mentoring with participating startups and held meetings with representatives of local venture funds and associations. As part of the program, international mentors also delivered lectures for public sector employees and students of Armenian universities.

As a result of the program launched in 2024, participating startups recorded a number of successes and attracted investments. Thanks to Plug and Play’s extensive global partner network, participating startups had the opportunity to establish connections with major international corporations.

During its six months of activity in Armenia, Plug and Play carried out a comprehensive assessment of the local ecosystem, identified existing challenges and gaps, established relationships with local companies, venture funds, angel investors, associations, unions, and universities, and presented proposals for long-term cooperation within the program. Plug and Play’s activities and presence in Armenia have had a positive impact not only on the startup ecosystem but also on Armenia’s technological reputation. This is evidenced by the Global Startup Ecosystem Report 2025, published by the research center StartupBlink, according to which Armenia improved its position by three places, ranking 54th. In the report, the acceleration program implemented by Plug and Play in Armenia was included among the ecosystem’s most significant annual achievements.

According to data from Pitchbook, an international information and analytics platform, in 2024, Plug and Play was recognized as the organization with the largest volume of investments in Europe funded by American capital, surpassing other prominent accelerators such as Y Combinator and Techstars. According to data published by Sifted, which provides statistical information on the European startup ecosystem, in the first quarter of 2025, Plug and Play became the third most active venture investor in Europe.