The building of the ancient commercial college was selected to be renovated and given to Technology center as its main headquarter. In 2013 the reconstruction was finished and the technology center started its activities locating tech companies, startups and teams, and functioning as a technological incubator. This is the largest in the region and is a catalyst for Gyumri city to become a technology and creative hub for the whole country. Gyumri Technology Center has been established by the Enterprise Incubator Foundation, the RA Government and the World Bank.
In 1988, the building collapsed because of the destructive earthquake. In 2011 the Government of Armenia along with the World Bank launched the Gyumri Technology Center project.
In autumn, 1934 the Gyumri State Pedagogical University was established as a four year evening pedagogical university, and as a branch of the Armenian Pedagogical University since 1935. From 1947 the Pedagogical University of Gyumri was named after Michael Nalbandyan. In 1960, it became again a branch of Yerevan State Pedagogical Institute after Khachatur Abovyan, and from 1966 served as an independent university.
From 1920 the commercial college building in Alexrandrapol served as the first Armenian university. The university was finally opened in Alexandrapol on January 31, 1920. Government leaders of Armenia took part in that official ceremony. Prime Minister Alexandr Khatisyan, minister of Education Nikol Axbalyan, Justice Minister Ruben Darbinyan, the US ambassdaor at the time colonel William Haskel and his wife were among the honored guests of the opening ceremony. The classes at the university started with a lecture delivered by the well‑known armeniaologist Stepan Malkhasyants on February 1, 1920. During the first academic year the university had only one department: faculty of history and linguistics (262 students and 32 lecturers), and the first rector of the university was professor Yuri Ghambaryan.
On May 16, 1919 the government of the first Republic of Armenia decided on establishing a university in Yerevan, the capital of Armenia. In spite of all difficult conditions the primary problem for the newly independent country was to educate the new generation. Due to the lack of construction resources in Yerevan, a decision was made ‑ to open the first university in Alexandrapol (Gyumri).
From 1903 to 1905 a commercial college was constructed in Alexandrapol. In 1912, Committee of Trustees was formed in Tbilisi. The committee was led by Grigor Bayandurov and aimed to establish a commercial college in Alexandrapol.