16:36 | 05.09.23 | News | 5432

STAN Angel Network shifts from FAST program to independent legal entity

STAN, FAST’s Angel Network has transformed and appears with new organizational structure and model, becoming an independent legal entity.

“STAN, one of Armenia’s pioneering angel networks, took its first steps five years ago. Since then, it has experienced remarkable growth, expanding from its original 18 founding angels to now encompassing approximately 40 angels,” Armen Orujyan, FAST’s Founding CEO said.

He noted that in Armenia, as exemplified by STAN’s transformation, angel investment acts as a catalyst for startup growth.

“It nurtures startups, creating jobs and attracting further investment. By evolving into an independent entity, STAN demonstrates its dedication to Armenia’s innovation journey. This form of investment has the potential to leave a lasting impact on Armenia’s progress, propelling it toward becoming a global innovation hub,” Armen Orujyan noted.