Statement:
In Bulgaria, startup ecosystem seems to be more developed than in Armenia

In the Startup Ecosystem Index rating Bulgaria holds position #36 ²⁰²² out of 99 and Armenia is #60 out of 99 ²⁰²².
Position of Bulgaria is better than position of Armenia.

Referencies:

1. Startup Ecosystem Index ²⁰²² by StartupBlink

   The countries in the rating sorted by 'Total Score' in descending order.

   Armenia	'Total Score' value is	2.151
   Bulgaria	'Total Score' value is	5.961