The article introduces the steps carried out for the reinforcement of entrepreneurship at Armenian universities and the main mechanisms for the enhancement and development of entrepreneurial skills of students and staff. The research has been done according to oral and written inquiry, information placed on the websites and social media pages of Armenian universities, as well as surveys. To this end, much funding has been and is still being invested by European and British organizations for fostering entrepreneurial education at Armenian HEIs and establishing co-creative hubs, the main aim of which is to create a favorable environment for young entrepreneurs and to give birth to innovative ideas through entrepreneurship or open innovation. To lay ground and build capacities for the digital and entrepreneurial education, special centres have been established in major Armenian cities where the competences of younger generation could be improved. Still there is an urgent need for the embedment of entrepreneurial component in the curricula and for the creation of a favourable ecosystem for research and innovation at Armenian universities.