Venture fund to sponsor 2010's innovational projects to be formed in Armenia

PanARMENIAN.Net - Venture fund to sponsor innovational projects will be formed in Armenia in 2010, RA Economy Minister Nerses Yeritsyan stated, summarizing results of Invention Competition, organized by ARPA organization at RA Engineering University. In this context, he added that in future, innovational projects' authors will be able to address commercial banks for project financing.



Invention Competition hosted 24 students, 14 applications were filed. Cash awards, to the amount of $ 2000, 1000, 600 and 400 (1st to 4th places accordingly) were presented by RA Economy Minister Nerses Yeritsyan and ARPA President Hakob Panosyan.



ARPA Institute (Analysis Research & Planning for Armenia) is a non profit organization, promoting international cooperation and understanding for RA through the provision of consulting analysis, research and planning services in various fields. ARPA experts have served as consultants to public organization and RA Government in matters pertaining to education, economy, energy, transportation system, industry and RA-Diaspora relations.