On July 1, the German Federal Minister for Economic Cooperation and Development Ms. Svenja Schulze and her delegation from Germany visited the SAP Startup Factory by BANA as part of her two-day visit to Armenia.

The place of visit was not chosen randomly. SAP Startup Factory was founded in cooperation with the German software giant SAP and the Business Angel Network of Armenia (BANA) with the support of the EU4Business “Innovative Tourism and Technology Development for Armenia (ITTD)” project. The project is implemented by GIZ Armenia and co-financed by the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ).

During the visit, Ms. Madeleine Rauschenberger, Country Director of GIZ Armenia, and Mr. Wilhelm Hugo, the EU4Business ITTD Team Leader, presented to the minister and the guests the importance and features of the support provided to the Startup Factory.

The SAP Startup Factory by BANA is extremely important for Armenia's technology ecosystem. The programme provides unprecedented opportunities for Armenian startups to enter the world arena and could become a regional centre for startups from the EU’s Eastern Partnership countries and Eastern Europe in general to integrate into the SAP platform.

During the visit, TACTUN, GOTCHA and Prelaunch.com, participants of the Factory’s acceleration and incubation programmes, pitched their startups and ideas. This was followed by an active discussion about their products and opportunities to enter the European market.

The delegation’s visit was warmly welcomed and the minister was thankful for a pleasant reception, wishing everyone new achievements in the future.