Armenia: creating a new Silicon Valley

In today’s realities, Armenia can be considered a center of excellence in the development of products for the betting and iGaming industry. However, gambling is only one component of the country’s growing tech sector.

Armenia may not yet enjoy the prestige of a global IT powerhouse, but Armenia’s advances in technology are growing. The combination of a strong education system, workforce, and start-up environment will help drive this trend forward.

Simon Westbury (CBO of Digitain), Suren Khachatryan (Founder and CEO of Technamin) and Levon Nikoghosyan (CEO of EveryMatrix Armenia & PartnerMatrix and Member of the Board of AffPapa) talked about the technology sector and, in particular, the success of the gambling industry in Armenia, in an interview with the SBC team.

From an international point of view, Armenia is not one of the largest technology centers, but it has managed to establish itself as a center of excellence in the field of gaming technology. What makes Armenia an ideal place to start a gambling business?

Suren Khachatryan: Armenia is becoming a regional Silicon Valley and a hub for technology start-ups. Therefore, the statement that it cannot be chosen as a technology center is misleading.

Over the past few years, Armenian companies have emerged that have made great strides in the technology field. These are Silicon Valley companies such as Picsart, Service Titan, All.Me, 10Web, EPAM and Krisp. Google also has offices in Armenia. Technically, Armenia is thriving, and this is not strictly limited to the gaming industry.

The new generation is tech-savvy and open to learning, research, innovation and creativity. In the context of the gambling business, these are professionals who are interested in the industry not only to make a profit, but also to push the boundaries and give a new look to familiar products and solutions.

The traditional way of doing things no longer works. We are here to ask ourselves, «What’s next?» and answer this question. For our customers, this means a fresh look at products that can offer unique advantages in the market.

Establishing a gambling business in Armenia may turn out to be the most profitable in the long run. Starting a gambling business here is the ideal solution. Because there is a lot of interest in the industry and everyone is excited to discover the untapped potential in this sector.

Let’s not forget that Armenia is a historical connective tissue that connects East and West. If the peace continues, many positive things can happen. Games and communication through play activities are functions of the human condition that go back thousands of years. Why not take advantage of this and build a bright future for yourself and future generations?

Simon Westbury: To be honest, I thought the same thing until I joined Digitain, and of course I have some prejudices, but I deeply respect and love not only Digitain, but also Armenia as a country. My colleagues joke that they are my Armenian family.

Also, the people I work with are very open to learning and Armenians are some of the nicest, kindest and most open people I have met in my travels, both professionally and personally.

My colleagues have an insatiable desire to learn, grow and develop, combined with a commitment to excellence. Visit our offices and see that the standards that apply to everything from our work environment to the products we offer are based on one key premise: excellence.

This drive and commitment to excellence, based on our founder’s vision, is the main reason why Digitain has become a respected and trusted partner in the gaming industry.

Levon Nikoghosyan: Yes, the gambling business in Armenia is very developed, but we are not going to limit ourselves to this. Armenia is home to successful global companies such as Picsart with over 150 million monthly active users, technology companies Synopsis and DataArt, and the Armenian vocational school Tumo, which now has branches around the world. However, we understand that this may not be very noticeable compared to global IT events.

As for the gambling sector in Armenia, two factors influence its development. Firstly, the market of digital specialists has long been established in Armenia. Secondly, after gaining independence, Armenia has its own gambling laws.

With the elimination of shady businesses, many companies have begun to develop their own software and games. Today the Armenian gambling business is flourishing, encouraging more and more international companies to open new offices in Yerevan.

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