We discussed the development prospects of the It Park business center with the Founder and Director Gagik Karapetyan

We present a part of the interview, which is dedicated to the development prospects, values and new opportunities of the It Park business center. The answers of the director Gagik Karapetyan will help to get a deeper understanding of what path the center has taken, where it is moving now and what goals it has for the future.

1. What was the main driving force for creating the business center?

The history of the business center began back in 1976, when the “ALGORITHM” scientific research center was founded in Moscow, which was engaged in computer programming. After the collapse of the Soviet Union, we continued our activities in the same direction, transforming the center into a business environment. The building was originally intended for the work of programmers, and today the center is still dominated by IT specialists and organizations.

2. How long has the center been operating, and what kind of growth has it had during that time?

Our center has a history of over 45 years. In 2003, by decision of the center’s management, radical, systemic changes were implemented, as a result of which the organization entered a new stage of development. It became a closed joint-stock company (CJSC), and the company’s employees bought all the shares of the organization from the RA government. This step allowed us to form an independent management system and develop the center in new strategic directions.

3. How do you see the development of the It Park business center in the coming years? What are the main goals at this stage?

Personally, I deeply believe that a person cannot achieve great results alone. The environment is the factor that supports, inspires and guides.

Today, the world is entering the era of artificial intelligence, where huge funds are being invested. This is the direction where especially the younger generation not only learns programming, but also masters its latest approaches and tools. In IT Park, after various changes, we clearly saw how important the role of programming is. I can say with confidence that we were one of the first organizations to place orders with America, and today we continue to develop in that direction.

4. Do you plan to expand the territory or open new branches in Yerevan, in other regions of Armenia, or even abroad?

-I am inclined to invest in Armenia, although I have extensive experience in conducting business in different countries.

We are currently working on a project to build a new business center that meets all modern international standards. It will have a total area of about 20,000 square meters, will be equipped with green technologies and artificial intelligence solutions. The new business center will be a unique structure not only in our republic, but also in the entire region, hosting leading companies in high technologies, artificial intelligence, and information technologies.

5. What are the main challenges you have faced, and how did you overcome them?

One of our biggest challenges has been the inefficiency of administrative systems. Unfortunately, state and administrative structures do not always operate in a way that supports the private sector or promotes business development. In these conditions, a number of difficulties arose, but over time we were able to overcome these problems, thanks to perseverance, patience and consistent work.

6. Do you plan to develop new services in the near future?

Yes, in the near future we plan to introduce new services, the first of which will be the sports medicine service. Considering that the majority of our employees lead a sedentary lifestyle, the goal of this service is to prevent health problems and improve the general condition of employees. Another important direction that we focus on is related to improving the shelter. I believe that a safe and comfortable shelter should be a priority, and we are already working in this direction to ensure safety for all our tenants.

Thank you for your honest answers and interesting observations. We are confident that the It Park business center will continue to maintain its leading position and create the most favorable conditions for the development and establishment of businesses.