The Government of Armenia has approved a proposal from the Ministry of High-Tech Industry to formalize a long-term cooperation agreement with the internationally renowned startup accelerator Plug and Play. The decision was made during the government’s session held on July 3, 2025.
Presenting the initiative, Minister of High-Tech Industry Mkhitar Hayrapetyan emphasized that continued collaboration with Plug and Play is essential for the sustained development of Armenia’s startup ecosystem. He noted that the accelerator is already familiar with the local market and has successfully implemented programs in Armenia.
Based on this successful track record, the ministry proposed a long-term agreement, allowing for the expansion of the results achieved so far over the next three years. Under this extended partnership, Plug and Play will establish a local branch in Armenia and run incubation, pre-acceleration, and acceleration programs.
The government believes that the presence and long-term activity of Plug and Play in Armenia will significantly strengthen the country’s startup ecosystem and improve its global competitiveness.
In 2023–2024, the Ministry of High-Tech Industry committed to bringing one of the world’s top 5 startup accelerators to Armenia. As a result of a 2024 grant competition, Plug & Play Germany GmbH was selected to operate a 26-week acceleration program in Armenia. The program provided mentoring, innovation support, business development services, and helped startups build international business connections.
Over the course of the program, 46 high-level experts from around the world visited Armenia, offering personalized mentorship to local startups and engaging with representatives of local venture funds, business associations, and universities. Sessions were also held for public sector employees and university students.
Thanks to the program, Armenian startups achieved notable success, attracting investments and accessing Plug and Play’s vast international network, which opened doors to partnerships with global corporations.
During its six-month activity in Armenia, Plug and Play conducted an in-depth analysis of the local startup ecosystem, identified challenges, and built strong connections with key players including local startups, angel investors, universities, and associations. The organization has proposed long-term collaboration models to ensure continued growth and development.
The accelerator’s influence is already reflected in Armenia’s improved global startup ranking. According to the StartupBlink Global Startup Ecosystem Report 2025, Armenia advanced three spots to rank 54th globally, with Plug and Play’s program listed among the year’s major achievements.
According to PitchBook, Plug and Play was the leading U.S.-backed investor in Europe in 2024, surpassing other major accelerators like Y Combinator and Techstars. Data from Sifted also ranked Plug and Play as the third most active venture investor in Europe in the first quarter of 2025.
