Armenia’s government has approved a decision to deepen cooperation with the U.S.-based company Plug and Play to ensure sustained development of the country’s startup ecosystem. The decision was made during today’s Cabinet session.

Minister of High-Tech Industry Mkhitar Hayrapetyan, presenting the background, recalled that the ministry had launched a grant competition in 2024 with the aim of attracting one of the world’s top five accelerator companies to Armenia, according to Sputnik Armenia.

The competition was won by Plug and Play, which implemented a 26-week program in 2024–2025 for 20 Armenian startups.

“The program aimed to bring together early-stage startup teams with visible potential, offer consulting support, and guide them from idea to product, while also securing investment opportunities within the program framework,” the minister explained.

Hayrapetyan noted that some successes have already been recorded through this partnership: Armenian startups have begun collaborating with companies in Silicon Valley and have even signed deals.

“The development of startups is vital for our ministry, as they are much more flexible and open to innovation than large corporations,” said Hayrapetyan.

He added that in 2024, through Plug and Play, 46 highly qualified experts visited Armenia at different stages, helping startups from idea generation to final product development and international market entry, sharing relevant knowledge, experience, and skills.

Based on this success, the Ministry of High-Tech Industry aims to establish a long-term cooperation with the U.S. company by signing an agreement valid until 2028. Under this contract, Plug and Play would be able to set up a permanent office in Yerevan.