Within the framework of the Orion Summit, over the course of three years, it became possible to raise $51.7 million in venture investments for Armenia’s startups. By the end of the summer, however, this amount will increase considerably, says Orion Summit Innovations founder Emma Arakelyan.

In an interview with NEWS.am Tech, Arakelyan said that in 2021, it became possible to raise $27 million, whereas in 2021/22—$48 million. In the near future, however, several more interesting transactions are planned, the details of which will become known in the near future and as a result, the amount of investments for Armenia’s startups within the framework of the aforesaid project will increase significantly.

How to make Armenia more appealing for global investments? This is one of the main topics being discussed on the margins of the Orion Summit 2023, which being is held in New York, from Monday to Friday. However, the purpose of this event, according to Emma Arakelyan, is not only to draw investments to Armenia, but also to show that there are developed and successful businesses in Armenia, and there is capital that can be invested in innovations.

"In this way, we will show that the country has potential, and we will increase the investment appeal of the country. It is about the exchange of capital. We not only want investments to come to Armenia, but also to present the country as innovative, developing, with great potential," said Arakelyan.

During the second day of the Orion Summit, an interesting panel discussion was held on the topic "What is happening in the cryptocurrency and blockchain market," as well as roundtable discussions with the participation of representatives of banks and venture capitalists, as well as several tours for the participants of the summit.

More than 100 guests from seven countries—including the US, Canada, United Kingdom, and the Netherlands—are participating in the Orion Summit 2023. This event is attended also by more than 60 guests from Armenia, including representatives of three banks, famous brands, businesses, and startups.

Among the guests of this summit are representatives of the New York City Hall, and economic development specialists who are interested in collaboration with Armenia.

NEWS.am Tech is the official information partner of the Orion Summit 2023.