The Armenian IT/High-Tech Representative Office of Silicon Valley assists Armenian IT companies looking to transact business in the US. The office acts as hub for the development of sales opportunities to ensure Armenian IT visibility and presence at the US marketplace. The primary focus is on the introduction and marketing of Armenian IT capabilities and products into the United States. However, the office also looks to establish business linkages between Armenia-based companies and US firms aiming to promote investment opportunities for Armenian IT companies in the US. This project is sponsored by the World Bank, EIF and the Government of the Republic of Armenia.
The objectives of the Armenian IT/High-Tech Representative Office include:
- Increased awareness of Armenian IT industry in the US marketplace
- Promotion of sales and foreign direct investment
- Facilitating the creation of linkages among Armenian and US companies and professionals
- Facilitating technology and knowledge transfer to and from Armenia
- Developing and deploying a mechanism for the effective operation of the Initiative while acting as a hub for advancing US companies’ interest to do business in Armenia.
In the scope of the Initiative Armenian IT companies will be provided with the following set of services:
- Information regarding US IT market trends
- Access to collaboration opportunities in the US market
- Assistance in identification of and matchmaking with potential partners in the US market, including US companies, investment promotion/business development institutions and agencies
- Consulting and assistance in development of marketing and communication strategy, industry and product research, customer research
- Assistance in the course of negotiations between local and US companies as well as legal and business consulting
- Presentation of investment projects and opportunities to potential investors
- Presentation of Armenian IT industry investment opportunities during investment forums and other events
- Office space for Armenian companies – a soft landing place within Silicon Valley and other locations in US and Canada.
To ensure the self-sustainability of the Representative Office, the Initiative operates based on a success fee model implying the following revenue generation sources:
- sales contracts -> a negotiated percentage is paid by Armenian and/or US company as a success fee
- investment deals -> a negotiated percentage is paid by Armenian and/or US company as a success fee
In order to further advance successful leads and elaborate on business contacts and prospective partnership, EIF and the Sales Representative may jointly consider an opportunity to organize management secondments to Silicon Valley for the Armenian IT companies’ owners/ representatives. The final decision regarding secondments is subject to approval by the EIC Board. Most efficient duration of stay will be defined by EIF and the Representative in each individual case. The relationship and responsibilities of EIF and the Secondment participants are defined and regulated by a separate contract, e.g. travel expenses will be covered by the Initiative, all other expenses related to secondments including accommodation, and per diem will be covered by participating companies.
EIF is pleased to invite Armenian IT companies having the capacity of and interested in promoting their products and/or services in US market to take part in Armenian-US IT /High-Tech Promotion Initiative.