The Global Startup Ecosystem Index 2025 report has been published, with Armenia climbing 3 positions to rank 54th globally.

Armenia has recorded a 22.8% year-on-year growth in its startup ecosystem. It ranks 1st in Central Asia and is among the world’s top 40 countries in the Software & Data sector.

Key highlights:

• Yerevan has jumped 19 spots, now ranking 181st globally, becoming the fastest-growing city in the region.
• The ecosystem is powered by strong public-private sector collaboration.
• Armenia is home to two official unicorns – Picsart and ServiceTitan.
• Global tech giants like NVIDIA, Synopsys, and AMD operate major R&D centers in Armenia.
• A mature ecosystem is in place, including 4 active angel investor networks and 5 early-stage venture capital funds.
• Multiple government support programs have been introduced, offering incentives to research-based companies.

The top three countries this year remain the United States, United Kingdom, and Israel. Among neighboring countries, Georgia ranks 71st, Turkey 39th, and Azerbaijan 74th.

The Armenia section of the report was developed in collaboration with the STAN platform.
You can access the full report here.