Success stories

The IT sphere has grown to be one of the most important industries in Armenia, with its startups, tech entrepreneurs and innovators who believe in a high tech future. One Armenian startup has created the Triple-E Augmented Reality Platform, and is expanding its business to Europe and beyond thanks to the assistance provided by the European Union. Armenia is looking to IT to grow the economy...
Armenia is well known for its unique cultural and creative heritage. In music, film, poetry and painting, Armenia has nurtured artists known the world over, and seen its creative potential flourish. Now, Armenian fashion designers have a chance to highlight their creative flair, thanks to the ‘ Support to SME Development in Armenia ’ (SMEDA) project, co-funded by the European Union in the...
With funding from the European Union under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped an Armenian IT company to introduce Information Security Management Systems in accordance with international standards, leading to a soaring growth in exports. Under its Advice for Small Businesses (ASB) programme, the EBRD supported VOLO LLC, an IT...
An Armenian fashion company has achieved a 25% increase in turnover and a 30% increase in customer base, thanks to business advice provided by the European Bank for Reconstruction and Development (EBRD), with funding from the European Union under the EU4Business initiative. As part of its Advice for Small Businesses programme, the EBRD supported LOOM LLC, a woman-led enterprise, specialised in...
With funding from the European Union under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped the Da Vinci clinic, a high-profile plastic surgery and aesthetic medical centre from Armenia, to re-brand and introduce a professional website, increasing turnover by 41%. Established in 2010, Da Vinci started as a clinic specialised in diagnostics of hair...
TEA HOUSE
Many small and medium-sized enterprises (SME) in Armenia feel that their main problems start at their own borders, with the taxes and customs regulations applied by the Armenian authorities. However, few of them raise these issues, as most entrepreneurs are concerned about confidentiality and the consequences of their actions – factors that create obstacles to business development. This is where...
GetTreated founders Shaghig Aguilian and Raffi Elliott
It all started with an operation: Raffi – a Canadian-born web developer who repatriated to Armenia in 2011 – checked in to hospital in Yerevan for treatment on a long-overdue health issue that doctors back in Canada had failed to handle. Not only was he delighted with the result, he was stunned by the price-quality ratio. “It was then that I decided to create an app to help other people around...
The Grovf team have developed a prototype that slashes data processing times
In a world of big data and artificial intelligence, processing power is the motor of a new industrial revolution. With ever more data being generated, the capacity of processors to store and analyse data is failing to keep up. This is where Grovf comes in, an Armenian start-up hoping to join the data revolution with the help of EU4Business . Grovf works on hardware acceleration of core database...
With funding from the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped Bargavachogh Tsantser Ltd., a regional telecoms company in Armenia, to develop a strong corporate identity and improve its management effectiveness. The EBRD supported Bargavachogh Tsantser Ltd., a regional telecom service provider, in improving its performance...
Female construction company
An Armenian woman who set up a construction firm in Armenia six years ago has seen the firm’s turnover more than double thanks to help from the European Bank for Reconstruction and Development. With funding from EU4Business and Sweden, the EBRD’s Women in Business programme helped Smart Construction Ltd. to computerise the operational and financial practices so the company could manage its...