Regional Open Innovation Campus (ROIC) ROIC_e-book | Page 29

Total value generated
$ 336,600,000
By 2027
$ 106,700,000
By 2025
$ 1,785,000,000
By 2032
ROIC IN THE CONTEXT OF FAST STRATEGY
The demand for ROIC mega-project is deduced from the logic of FAST Strategy and its
ultimate goal of transforming Armenia into a top-10 innovator country. Placing ROIC in the
context of the long-term planning and Armenia’s advancement in STI over a 20-year
horizon. The necessity to establish ROIC is also stipulated by the fact that Armenia’s growth
in R&D and absorption capacity for R&D expenditure will saturate in 5 years (by 2023) after
doubling the current expenditure level. The way to sustain the R&D growth towards reaching
the goals of 2041 is possible through attracting large numbers of international scientists,
engineers, startups, and companies, as well as catalyzing resources within the country and
applying a multiplicative clustering effect to them. ROIC is a measure to do that.
The plateau in R&D growth will break and experience linear growth in 2-3 years from ROIC’s
establishment. Starting from the 3rd year the incubated/accelerated companies will start to
generate revenue and expand creating more high-tech jobs, revenue and R&D, as estimated
in the ROIC impact assessment. ROIC will also result in diversifying the high-tech industry in
Armenia which is currently focused mostly on the ICT sector.