Ex-Soviet state Armenia’s tech startup scene is showing impressive growth despite geopolitical tensions.

In 2023, the number of IT companies more than doubled, according to the Armenian government, with a 30% rise in sector employment.

Companies like Picsart, known for its photo-editing app, have gained international recognition. It became Armenia’s first unicorn in 2021, valued over US$1 billion.

Meanwhile, tech giants Nvidia and Adobe plan to establish operations in Armenia, further boosting its tech industry.