STAN Foundation: Empowering Innovation in Armenia!

Since its inception in 2018, STAN has been at the forefront of fostering angel investments and nurturing startups in Armenia. Today, as we mark our 5th anniversary, we reflect on the remarkable journey that has led us to this significant milestone.

From humble beginnings, STAN has grown into a thriving ecosystem, with investments exceeding $590K in 13 innovative startups. We owe this success to the unwavering support and dedication of our 43 angels, whose commitment has been instrumental in propelling Armenia's angel investment culture forward.

We take immense pride in the catalytic role STAN has played in establishing not just its own network but also contributing to the emergence of four active business angel networks across the country. This collaborative effort has fostered an environment where startups can thrive and where entrepreneurs can access the vital resources and guidance they need to flourish.

We are grateful to everyone who supported us throughout STAN’s journey. The belief in the power of innovation, your financial support, and your commitment to transforming Armenia into a global innovation hub have been the driving force behind our accomplishments.

As we embark on the next phase of our evolution, we are thrilled to announce the spin-out of STAN as a not-for-profit Armenian Foundation, named the STAN Foundation. This strategic move will enable us to further expand our reach, strengthen our impact, and continue championing the growth of the Armenian startup ecosystem.

The STAN Foundation has been founded by Ruben Arutyunyan and Igor Khalatian, esteemed co-chairs of STAN, who bring their wealth of experience and passion to this new endeavor.
The STAN Foundation represents our next step in empowering and developing the Armenian startup ecosystem. We firmly believe that by establishing this not-for-profit entity, we can amplify our impact and provide even greater support to the vibrant community of entrepreneurs in Armenia.

“One of our primary goals is to encourage and inspire first-time entrepreneurs to take those crucial initial steps in building science and technology-empowered startups. We recognize the immense potential that lies within our nation's innovative minds, and we want to create an environment where their ideas can flourish and transform into successful ventures. Through the STAN Foundation, we will continue to provide comprehensive resources, mentorship programs, and networking opportunities to aspiring entrepreneurs. We will foster a culture of collaboration and knowledge-sharing where experienced individuals can guide and mentor the next generation of innovators. We aim to strengthen the ties between academia, research institutions, and the startup ecosystem. By promoting the integration of science and technology into entrepreneurial endeavors, we can unlock new avenues of growth and development. We envision a future where groundbreaking research and cutting-edge innovations fuel the success of startups, creating a positive cycle of advancement and economic prosperity.”


Ruben Harutyunyan, Founder & CEO of HENDERSON Group


"As the STAN Foundation, our outreach and impact will expand exponentially. Our goal is to support and nurture startups and attract a diverse community of angel investors who share our passion for driving change through science and technology. We firmly believe that by bringing together visionary entrepreneurs and experienced investors, we can create a dynamic ecosystem that fuels sustainable growth and transforms the entrepreneurial landscape of Armenia. Our foundation will catalyze change, offering a platform where startups can access invaluable resources, mentorship, and funding opportunities. We will foster an environment where ideas are nurtured, innovation is celebrated, and bold visions can become reality. Through strategic partnerships and collaborations, we will provide startups with the necessary tools and guidance to navigate the challenges of building successful ventures.

With the STAN Foundation at the forefront, we are determined to position Armenia as a global leader in science and technology startups. We believe that our nation has an abundance of untapped potential, and by harnessing the power of innovation, we can drive economic growth, create employment opportunities, and shape a brighter future for generations to come."


Igor Khalatian, Founder & CEO of Iris Dating

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