International collaboration and support by the EU4Business initiative has helped businesses in Armenia’s high-tech sector enter international markets and do successful business. IT Solution is an example of successful cooperation between Armenian and EU companies facilitated by EU aid.
In 2016, Nelly Davtyan, a 32-year-old finance graduate, assembled a team of experienced IT developers to launch a mobile and web-based application company called IT Solution. The venture actively engages in international programmes focused on eLearning, entrepreneurship, and aligning business models with the emerging Digital Single Market in the EU – one of the European Commission’s 10 political priorities.
The first product of IT Solution, called Busticks, is a travel app designed to enhance tourism in Armenia by providing foreign travellers with reliable information about local attractions, and enabling them to book tours online safely and swiftly.
After she went on an exchange to Malta in 2018, Davtyan, the CEO of the company, managed to turn her small start-up into a sustainable and growing IT business with the aid of the Entrepreneurship and Youth in Europe (EYE) programme. Since 2019, IT Solutions has been involved in collaborative partnerships under the Erasmus+ programme, contributing to the Chess Platform for Deaf People, or CHED, by creating content, software and 2D animations incorporating sign language and subtitles in multiple languages.
Davtyan, the winner of the EYE New Entrepreneur of the Decade (2009-2019) award, received a EUR 1,500 grant in April 2023, through the Connecting Companies (EU4BCC) project, which is managed by Eurochambres and financed by the EU under the EU4Business initiative. This initiative, dedicated to supporting SMEs through training, coaching, and matchmaking opportunities with EU businesses, facilitated Davtyan’s collaboration with Asset Technology – a Greek high-tech company specialised in software development, IT, training and consulting.
“The month-long visit to Greece involved knowledge exchanges on innovative methods in IT, the development of the Busticks business plan, insights into the Greek IT and tourism market, and potential business opportunities through an expanded network of contacts,” says Davtyan.
While in Greece, Davtyan introduced the Busticks travel app to the Vice President of the EU Commission Margaritis Schinas during an event marking Europe Day, and received positive feedback.
The EU grant provided financial support for travel, accommodation, meals, and other incidental costs related to the exchange. Notable achievements resulting from the EU support included a co-production contract with Asset Tec related to the Busticks application, and three contracts with Greek travel agencies represented by Asset Tec.
“I’m grateful to Georgios Kouklakis (the CEO of Asset Tec) and Manos Andreadis (the company’s project manager) for their significant contribution to organising the exchange, mentoring and facilitating connections with potential partners, supporting the development of the business plan for Busticks, which was crucial at that stage,” says Davtyan.
Nelly later showcased the exchange results at the EU4BCC event in Brussels fostering new business connections.
“Without this financial assistance, I might not have been able to stay for a month in Athens, concentrating on the development of my project’s business plan, and getting essential information about the Greek market on-site,” Davtyan says.