Armenia to Update Scientific Sector

This entry goes hand-in-hand with the previous one.

In May 2006, the Armenian parliament adopted a law for the state support of so-called "innovative activities." Four months later, the government adopted a five-year program outlining specific measures to encourage scientific innovation.

Under the program, an analytical center, housed in an existing scientific institute, will evaluate promising scientific projects and developments and then promote the findings with outside investors. In a complementary move, the government intends in 2007 to adopt legislation to establish venture capital funds that would use both state and private monies to encourage development of privately run scientific projects.

As an initial step, the monthly salary of scientific workers in state-run institutes, which averages about 22,000 drams, or $60 (the national average is 60,000 drams or $140), will be doubled in 2007.

The program has already had one success. Plans are now underway for a joint venture between an Armenian researchers’ group and an American firm interested in a vibration detector developed at Yerevan State University that can be used in seismic devices.

I'm happy to see Armenia diversifying its economy, as no single sector will maintain a healthy environment for business. Our country is yet to have a golden age in this new global economy!

My only fear is that we will start seeing the thievery of ideas, which themselves could be worth entire fortunes.

Source: EurasiaNet