StartupBlink, the world’s most comprehensive startup ecosystem map and research center, provides public sector ecosystem developers, innovative organizations, and researchers with the knowledge and tools to map, brand, and grow their startup ecosystems. Some of their global data partners are UNAIDS, Statista, Meetup, Semrush, and others. The latter is a leading competitor-analysis platform that has opened an office in Yerevan recently. 

StartupBlink has published its Global Startup Ecosystem Index, where Armenia Startup Ecosystem was recognized as a regional leader in innovation, ranked at number 60 globally, and shows a positive momentum 5 spots since 2021. Armenia also ranks 16th for startups in Eastern Europe. Besides, Yerevan was also included in the global top 1,000 cities with a developed startup ecosystem, ranking 244th. Armenia is also mentioned as a perfect place to locate for Social & Leisure, SoftDev and Data Analysis, and Marketing & Sales startups. The platform also mentioned several notable Armenian startups, including Renderforest, SoloLearn and Krisp.

Renderforest is one of the leading Armenian IT companies, thanks to which high-quality animation videos can be created in a few minutes, designed for both professionals and users without basic knowledge of video editing with over 3,000 subscribers. Renderforest has registered 6,500 users daily in recent months. The number of active users reaches 40,000 daily and about 500,000 per month. To date, 5,000 videos have been produced on the platform. 

SoloLearn is the largest mobile social platform for coders around the globe to learn, create, and share programming content. They build the most fun, accessible, and effective technical learning experience worldwide to help anyone, anywhere bridge the technical skills gap to future and life-changing careers. SoloLearn’s global community of learners amounts to about 55M, the app was recognized as “App of The Tear” by FB Start, “Editors’ Choice” by Google Play, and “Best Computer Coding Education Solution” by EdTech Breakthrough Award 2021.

Krisp is an AI-powered application that bi-directionally removes background noise in real-time calls, becoming a virtual microphone and speaker within Windows and Mac OS. They define the future for remote employees' voice and video communication. Krisp is an award-winning product, which received 6 prestigious awards in the last 3 years, including Webby Awards in Productivity and Collaboration 2021, TIME 100 Best Inventions 2020, Forbes AI 50 most promising AI startup 2020, and others.

The IT sector in Armenia has shown unprecedented growth over the past 10 years, recording an average annual growth of 23%. Over the past two years, more than 20 start-up companies in Armenia have together received 700 million dollars of investment. Armenian start-ups are exempt from taxes on business, and the income tax for employees is 10%. According to 2021 data, the total turnover of IT companies operating in Armenia exceeded 1 billion dollars. As of 2021, the industry employs 29,000 professionals.