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VENTURE FUND TO FUNCTION IN ARMENIA - EXPERT
news.am
April 16, 2012 | 13:06
YEREVAN. - A venture fund will be established in Armenia this year,
and it will provide its first funding by the year's end, Enterprise
Incubator Foundation Executive Director Bagrat Yengibaryan told
Armenian News-NEWS.am.
In his words, Armenia's banks generally do not enter the high
technology sector, whereas the technology companies do not have
collateral for a loan. And in this case the Venture Fund is an
alternative to financing by the banks.
The new fund will initially have a US$ 6-million capital, which will
be equally allocated by the World Bank and Armenia's state budget. The
Fund is open for private investors, too.
In the preliminary phase, the Venture Fund will finance projects
worth $200-500 thousand.
According to Bagrat Yengibaryan, the Fund will not finance extremely
risky projects. That is, "ideas will not be funded."
The Venture Fund will have an independent, professional administrator.
"The [Armenian] Government will not manage the Fund, but rather it will
create a stimulus. At Venture, what's important is professionalism,"
Yengibaryan noted.
news.am
April 16, 2012 | 13:06
YEREVAN. - A venture fund will be established in Armenia this year,
and it will provide its first funding by the year's end, Enterprise
Incubator Foundation Executive Director Bagrat Yengibaryan told
Armenian News-NEWS.am.
In his words, Armenia's banks generally do not enter the high
technology sector, whereas the technology companies do not have
collateral for a loan. And in this case the Venture Fund is an
alternative to financing by the banks.
The new fund will initially have a US$ 6-million capital, which will
be equally allocated by the World Bank and Armenia's state budget. The
Fund is open for private investors, too.
In the preliminary phase, the Venture Fund will finance projects
worth $200-500 thousand.
According to Bagrat Yengibaryan, the Fund will not finance extremely
risky projects. That is, "ideas will not be funded."
The Venture Fund will have an independent, professional administrator.
"The [Armenian] Government will not manage the Fund, but rather it will
create a stimulus. At Venture, what's important is professionalism,"
Yengibaryan noted.