The phenomenon of hidden champions deserves special observation in economies like Armenia, as such companies may play a crucial role in the development and even survival of countries with a number of economic disadvantages. This chapter of the study explores the social, economic, historical, political, and cultural background of the local business environment, which makes the formation of future hidden champions realistic and specific. Two typical cases are studied in detail: The Crowdfunding Formula, a very specific niche service provider with huge market expansion opportunities, and Krisp, one of the most prospective companies in Armenia with lots of new market possibilities. It is worth mentioning that the scale of the Armenian economy limits the potential number of hidden champions, as do the limitations of economic activities in many industries. Hence, given the contemporary difficulties, competition, and scaling possibilities, companies that may to some extent be described as “blue ocean” strategy followers or pioneers have better chances of success.