Armenia: EU4Business project on innovative tourism and technology development presents its results

A total of 150 ventures and companies received technical and financial assistance, 126 partners received grants, and over 350 participants took part in various programmes. 

These are results of the EU4Business Innovative Tourism and Technology Development for Armenia (ITTD) project, summed up at the project’s closing event in Yerevan on 26 February.

Thanks to the €14.95 million project, 1,415 jobs were created and sustained. Over half of employees from supported enterprises are women and over 78% of enterprises have women in ownership or managerial positions. 

“Through ITTD, we’ve witnessed remarkable initiatives flourishing in northern Armenia, revitalising local economies and communities with innovative tourism ventures,” said Erik Tintrup, Chargé d’Affaires of the German Embassy in Armenia. “These businesses not only highlight Armenia’s cultural heritage and natural beauty but also foster sustainable livelihoods. And support to the technology industry is unlocking Armenia’s potential as a tech innovation hub in the region.”

The goal of the EU4Business Innovative Tourism and Technology Development for Armenia (ITTD) project was to create innovative and diversified tourism enterprises in the northern regions of Armenia, as well as to promote and further develop the technology and innovation ecosystem of Armenia. Since 2019, the project has worked in close cooperation with the Ministry of Economy of the Republic of Armenia and the Ministry of High-Tech Industry of the Republic of Armenia.

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Press release