Armenia stakes its future on innovation amidst threats

Armenia, a small nation located in a precarious region, has embarked on a mission to secure its future by fostering a vibrant technology and innovation sector, aiming to become a significant player like other successful global tech hubs. Events in the last year highlighted this initiative, particularly following the conflict with Azerbaijan, which resulted in over 100,000 ethnic Armenians fleeing the Nagorno-Karabakh region. The urgency for Armenia to capitalize on its strategic assets in semiconductors and electronic chips has been underscored by leaders, including Valery Safarian of the Belgian-Armenian Chamber of Commerce, who emphasize the importance of economic trust and creativity over military might. With an influx of foreign tech companies setting up research centers in Armenia, the country is positioning itself to harness the inherent creativity of its people as a defense mechanism against existential threats it faces from neighboring countries. Armenian entrepreneurs are encouraged to innovate, amid concerns about national survival, emphasizing the need to overcome fears of inadequacy in their startup endeavors. Tigran Petrosyan, co-founder of the Startup Armenia Foundation, emphasizes the importance of resilience and progress in the face of adversity, urging leaders and innovators to keep moving forward regardless of the challenges ahead. The collaboration between technology and creativity could potentially redefine Armenia's role on the global stage as it seeks to stabilize its economy and ensure its survival against existential threats.