FAST foundation takes aim at science, tech development in Armenia

PanARMENIAN.Net - Co-Founder of IDeA Foundation Ruben Vardanyan on Thursday, September 22 announced the launch of FAST foundation aimed at promoting the development of science and technologies in Armenia, Panorama.am reports.

“We should develop the branches of science with experts not only from the Diaspora but also from other states,” Vardanyan said at the PanArmenian Scientific Forum currently underway in Yerevan.

Highlighting the relevance of the forum, Vardanyan stressed the importance of “capitalizing on the Armenians scattered throughout the world.”

“We announced the launch of FAST foundation aimed at supporting the development of science and technologies,” he said.

“The foundation has a primary goal of establishing an environment to promote technological innovations in Armenia, as well as mobilizing the technological and financial resources of the international scientific communities. Our family will invest the first $10 million in the foundation. I hope this will encourage the further growth of the funds to up to $200 million.”

Vardanyan next informed that funds will be used in four directions.

“Some funds will be directed to education, a second part will go to generating interesting ideas in the form of grants, the third part will be aimed for startups, and the remaining means will be used for introducing certain industrial branches in Armenia,” Vardanyan said.

A number of scientists from all over the world are attending the PanArmenian Scientific Forum, which is dedicated to the 25th anniversary of Armenia’s independence.