Fab Lab Armenia Education Foundation

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Fab Lab Armenia and Evocabank Partner to Drive Tech Innovation and Educational Growth

Fab Lab Armenia proudly announces its partnership with Evocabank, whose sponsorship is set to expand the reach of educational and technological programs beyond local communities, making an impact across Armenia. Renowned for its digital innovation in banking, Evocabank formalized this transformative collaboration at the NEXT IS NOW conference on November 17, 2023. The agreement was signed by Tatevik Khachatryan, Deputy Chairman of the Evocabank Management Board, and Babken Chugaszyan, CEO of Fab Lab Armenia Education Foundation.

Evocabank generously donated over AMD 121 million to Fab Lab Armenia, demonstrating its commitment to transforming education and technology in Armenia. This significant investment will support the establishment of virtual science labs in high schools and universities nationwide, along with training programs for educators in digital fabrication. The partnership marks a major step toward advancing technology education and fostering a startup-driven mindset across the country.

Fab Lab Armenia and Evocabank Join Forces to Advance Digital Fabrication, Foster Educational Excellence, and Cultivate a Vibrant Start-Up Culture in Armenia.

Babken Chugaszyan, CEO of Fab Lab Armenia, alongside Tatevik Khatchatryan, at the NEXT IS NOW conference, a platform for advancing technological collaboration.

A Partnership for Educational Excellence and Technological Growth

Evocabank’s sponsorship of Fab Lab Armenia drives sustainable and distributed technological training through advanced digital manufacturing.

As a regional hub for technology education, Fab Lab Armenia goes beyond community outreach by:

  • Developing a skilled workforce to establish and operate Fab Labs across Armenia.
  • Providing expertise in Digital Fabrication for applications in both public and private sectors.
  • Strengthening Digital Manufacturing Networks to promote collaborative learning and share best practices.

Unlocking Armenia’s Potential: Private-sector investment fuels the growth of the digital economy while enhancing educational opportunities nationwide.

Bringing Advanced Digital Lab Technologies to Support STEAM Education

Fab Lab Armenia and Evocabank are introducing the best digital lab technologies to enhance the Ministry of Education’s STEAM curriculum. Their collaboration has enabled the integration of Labster virtual science labs, helping upgrade STEAM education and reskill educators in Armenia’s high schools and universities by creating, developing, and implementing new curriculum and content.

Expanding the Network of Fab Labs in Armenia and Beyond

  • Creating, managing, staffing, and connecting Fab Labs within high schools, universities, and both public and private learning organizations across Armenia and globally.
  • Extending the Fab Lab network among public and non-public organizations to cover diverse knowledge domains.
  1. Teach and Train for the Digital Economy: Create Fab Academy programs designed for educators, artisans, entrepreneurs, and experts in the Creative Industries to equip them with essential skills for the digital economy.
  2. Engage in Global Networks: Actively contribute to global conversations by sharing knowledge and co-creating solutions, while fostering local community development.
  3. Bridge Local and Global: Promote a digital manufacturing culture that connects local communities with cutting-edge technologies and a global learning ecosystem.
  4. Empower Startups and Entrepreneurs: Provide support for startups through mini-workshops, prototyping services, and entrepreneurial programs that help turn ideas into viable businesses.
  5. Revitalize Traditional Crafts: Integrate digital fabrication with traditional artisanal practices, supporting artisans through mentorship and entrepreneurial initiatives to rediscover and grow their craft.
  6. Showcase and Promote Artisans: Offer online and offline platforms for artisans to display their work through exhibitions, showcases, and events, expanding their market reach.
  7. Facilitate Impactful Investments: Assist investors and business leaders by connecting them with meaningful projects, offering physical prototyping, validation, networking opportunities, and early-stage investment prospects focused on sustainability and social impact.
At the NEXT IS NOW conference on November 17, 2023, held at the Central Bank of Armenia Training and Research Center in Dilijan. Evocabank joins the Central Bank of Armenia as a sponsor, reinforcing their shared commitment to advancing Armenia’s digital innovation ecosystem through the Fab Lab Armenia Education Foundation.

Empowering Startups and Investors

For investors and business leaders, Fab Lab Armenia offers a wealth of opportunities to connect with impactful projects.

Access to a diverse project pool

Fab Labs attract a vibrant community of makers, innovators, and entrepreneurs, providing investors and business leaders with access to projects spanning various industries. This enables them to identify opportunities that align with their strategic interests or investment goals.

Physical prototyping and validation

Fab Labs empower creators to turn ideas into tangible prototypes, allowing investors and business leaders to evaluate a project’s feasibility and potential before committing resources or capital.

Networking opportunities in collaborative hubs

Fab Labs foster dynamic environments where individuals with varied expertise converge. Investors and business leaders can leverage these spaces to network with innovators, experts, and potential collaborators, paving the way for partnerships with promising projects.

Early-stage investment prospects

Many initiatives within Fab Labs are in their nascent stages, offering investors and business leaders the chance to support high-growth potential projects early. By doing so, they can provide mentorship, resources, and strategic guidance to help these ventures thrive.

Boldly pioneering transformative technologies for the greater good, we are united in creating a limitless legacy of progress and prosperity.

Social Impact and Sustainability Focus

Fab Labs are committed to projects with strong social impact and sustainability, aligning with the growing trend of impact investing and corporate social responsibility. Investors and business leaders looking to support meaningful initiatives that drive positive social or environmental change will find numerous opportunities within the Fab Lab ecosystem.

Together, we are poised to make a lasting impact on technological advancement, inspiring the next generation of inventors, thinkers, and leaders.

Fab Lab Armenia extends its heartfelt thanks to Evocabank for their visionary partnership, and we look forward to the positive changes and opportunities that will emerge from the alignment of our shared vision for a thriving collaboration.

Private Sector Partnerships for STEAM Innovation

Private-sector funding is crucial in Armenia for fostering technological progress and enhancing educational opportunities. By investing in STEAM education and supporting innovation, private entities can serve as catalysts for the country’s growth. Let’s unite to bridge the gap between government funding and private investment, unlocking Armenia’s full potential for progress and prosperity. While government support is essential, depending solely on it can hinder innovation and growth.

Encouraging private sector involvement in technology, education, and STEAM fields allows for a richer diversity of perspectives and resources. A collaborative approach, where stakeholders actively contribute, will drive impactful developments that benefit society. Private sector funding is key to advancing technology, enhancing education, and fostering innovation, requiring collaborative efforts between government and private entities to propel Armenia towards a prosperous and progressive future.


Evocabank is a leading financial institution known for its commitment to customer satisfaction and innovation. With a strong foundation built on trust, transparency, and a dedication to service excellence, the bank aims to provide reliable and accessible banking solutions that help individuals and businesses achieve their financial goals. Evocabank strives to be the top choice for customers seeking tailored, innovative banking services. Positioned as a modern, customer-focused bank, it is dedicated to meeting the evolving needs of its clients while maintaining the highest standards of integrity and professionalism. Headquartered in Yerevan, Armenia, Evocabank primarily serves the Armenian market.


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