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Time in Yerevan: 11:07,   29 March 2024

Commercialization of science, funding from businesses – Economy Minister on ambitious projects

Commercialization of science, funding from businesses – Economy Minister on ambitious 
projects

YEREVAN, FEBRUARY 10, ARMENPRESS. The Ministry of Economy is bringing “significant change” to the functions of its two agencies in order to get funding for science not only from the government budget but also from businesses, Minister of Economy Vahan Kerobyan said in an interview.

In his words, science was treated badly during the last 30 years in Armenia. “But to some extent this is already under my responsibility,” he said. “The Ministry of Economy has two agencies – the Intellectual Property Agency and the National Center of Innovation and Entrepreneurship. And through these two agencies science should be commercialized. That is, the product created by science will first of all be registered, and then through the National Center of Innovation and Entrepreneurship it must find the businesses where the given scientific invention or research can become a source of making money for the business,” Kerobyan said.

He said they are making significant changes in the work of these agencies in order to be able to finance science not only from the budget but also from businesses.

Kerobyan said it is highly important for businesses to have the opportunities for being able to fund science. “This can be in the form of some tax privileges or in the form of some other incentives, but we must bring business and science closer to each other,” he said.

Speaking about an earlier idea of his, the project of making Yerevan a regional high-tech hub, Kerobyan said now is the time for such ambitious programs. “During the 30 years of independence, one can say that we can’t boast about any serious thing. And this has both objective and subjective reasons, however, generations will look at our results, and not at the reasons which existed at the given time. Thus, I believe that it is time for ambitious projects. And we must find the minds, the skills, the resources which will help us to create great things in Armenia. And I wouldn’t say that making [Yerevan] a tech center is the most ambitious one, but we do have good opportunities for this,” Kerobyan said.

The economy minister says Armenia is the best place for talented startups to come to with their teams, to create their products here, use the Armenian human capital, and in turn Armenia must ensure the entire ecosystem which must serve these companies, such as expos, symposiums, scientific forums.

“Armenia is a very good place for them, because it is safe in Armenia,” he said, citing the very low violent-crime rates in Yerevan.

 “The food and climate is great here. We have a great atmosphere so that people from neighboring countries can move here, and for companies to emerge which could create products for the world.”

Editing and Translating by Stepan Kocharyan

 








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