Armenia has a highly motivated and educated population, talents, good geography, due to which it is one of the best places for IT sector development, investment and that's why Bitvore Inc. wants to have a representative office in Armenia, the company’s executive officer Oz Eleonora said in an interview with NEWS.am Tech within the framework of the Orion Summit 2023 held in New York.

"I think Armenia has amazing opportunities. I liked the country when I visited Armenia. I saw a fairly educated population, very motivated, eager to do more. I think ambition is of prime importance, because if people, if professionals don't have ambition, then no one can become the driving force, right?” he said.

Oz Eleonora has also visited several Armenian universities and notes that they have excellent academic programs and produce excellent STEM graduates. "This is a wonderful environment. Along with that, your academic education is very strong, it gives you all the ingredients to be a player in the global market.

Our company wants to make a deal so that we can have a presence in Armenia. We want to do this because we see Armenia becoming a regional hub, and the region is Europe, the Middle East, Africa and Asia. We see that Armenia is the best place because it is the most accessible place, it is centrally located, the country is very open due to religion, it is very flexible, it has young talent, it is safe and it has quality academic education. So, I think Armenia has excellent qualities," he says.

Bitvore Inc. is a successful startup with Bitvore Cellenus, a product that uses artificial intelligence and provides data and analytics to financial institutions, facilitating the decision-making process.

When asked what makes a good startup, that can attract good investments, he says that it is very important to stick to your vision even if not all investors understand it at the beginning, even if sometimes even the market does not understand it.

"But if you really believe in it, if you really talk to the whole team and explain that it's not one person's problem, if your team really believes in the vision, stays true to it, then you see how the market and the investors themselves come because that's been our experience. We stayed true to our vision, we stayed disciplined, we went through very difficult times, and now the market and investors accept us,” he says.

The Bitvore Inc. director says that he really likes the local fruits and vegetables and thinks that they have a special taste and appearance due to the water. "I think water is one of the most important things. During one of our panel discussions, someone said: we don't have oil, we don't have gas. I wanted to say yes, but you have water. It is more expensive than oil and gas. I think that is the first and most important thing," he says.

Oz Eleanor, who was born and raised on an island in the Caribbean called Curacao, says that Armenia has billionaires who have created big technology companies, big architecture companies, which makes the country's opportunities very unique.

"You probably have at least two, maybe three dozen billionaires around the world who have Armenian roots. So you also have an element of capital that you can bring back into the country and help your entrepreneurial class to grow. I think it's great,” he notes.

Oz Eleonora notes that many foreigners have the wrong impression that Armenia is a place where there is constant violence and war. "For some reason, people think that Armenia is in the middle of a war zone, but it is not so. It's not like that at all, it's a very quiet, very safe, very beautiful and very welcoming place. So, I don't know why people don't know where Armenia is, they don't understand what Armenia is," he says.

NEWS.am Tech is the information sponsor of Orion Summit 2023.