Only 1/3 companies survive in IT, says Vardanian

Despite the fact that in 2009 the spheres of information and telecommunications showed a 17% growth, however, due to challenges, this growth isn’t enough, said Executive Director of the Union of Information Technologies Enterprises Karen Vardanian at the press conference Wednesday.

He said that in line with the concept of the IT sphere, adopted by Armenia’s government in 2008, some 1,000 technology companies are to operate in the country by 2018. Given the risks and the fact that only 1/3 or 1/5 of companies survive, it is necessary to create 3,000 companies, according to Vardanian.

“Some 30 companies are being established in Armenia without any interference, including government’s interference that is 10 times less than we were planning. This is a serious challenge which makes start up process of creation of a special infrastructure for new companies,” he said.

Vardanian told that in certain times Singapore faced the similar problem when young specialists preferred to work at multinational corporations instead of making business.

“This was 90/10 ratio; however, after efforts it changed and became 40 against 60; and now 60 are seeking for own company. I hope that we will move towards this direction,” said Vardanian.