Armenia and Yerevan have improved their positions in the StartupBlink Global Startup Ecosystem Ranking 2023.

“Being a landlocked country with limited access to land due to tensions with some neighbors, the Armenian ecosystem has been able to demonstrate true resilience. ...Over the past few years, Armenia has made significant progress in reducing bureaucracy and corruption. While Armenian startup ecosystems are still in their early stages of development and the country has a lot of work to do to recover from its turbulent past, there is significant untapped potential waiting to be brought to the surface,” the report notes .