CBE Hosts Inaugural Event to Present GEM Armenia National Report

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YEREVAN, Armenia — On October 7, 2021, the American University of Armenia (AUA) Manoogian Simone College of Business and Economics (CBE) organized an event to introduce the inaugural Armenia National Report by Global Entrepreneurship Monitor (GEM).

The report was presented by Dr. Tigran Jrbashyan, the leader of the GEM Armenia national team. He highlighted the main findings of the 2019-2020 report particularly underscoring that Armenia has demonstrated a high level of entrepreneurship in the past year. According to the GEM Armenia National Report 2019/2020, one out of five adults in Armenia were involved in early-stage entrepreneurship, which was the seventh highest indicator among the 50 countries GEM covers. 

Other findings of the GEM Armenia National Report 2019/2020 on entrepreneurship in Armenia reveal that the main motivation to engage in entrepreneurship is necessity-driven, “to earn a living because jobs are scarce” as stated in the report. Moreover, when starting a business, there is a high level of fear of failure. Entrepreneurship in Armenia is largely focused on low productive sectors. 

Overall the main findings of the GEM Armenia National Report 2019/2020 are explained by the adoption of more favorable social and cultural values for the development of entrepreneurship, changes realized in 2018, and the lack of employment opportunities in the regions. 

GEM carries out survey-based research on entrepreneurship and entrepreneurship ecosystems around the world. GEM is a networked consortium of national country teams primarily associated with top academic institutions. GEM is the only global research source that collects data on entrepreneurship directly from individual entrepreneurs. GEM tools and data are therefore unique and benefit numerous stakeholder groups.

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia, affiliated with the University of California, and accredited by the WASC Senior College and University Commission in the United States. AUA provides local and international students with Western-style education through top-quality undergraduate, graduate, and certificate programs, promotes research and innovation, encourages civic engagement and community service, and fosters democratic values.