Summary (10/2024):

Propulsion Lab was created as a project by Allen to support Armenia’s technology, industry, & education development.

The Lab is developed under legal entity «ԴՐՈՆ ՕԴԱՆԱՎ ՀՐԹԻՌ» ՍՊԸ (AIUAS LLC) which was created by Allen in 2022.

Financial support to start the project is provided by the Armenian government through a grant from the HTI ministry. The Armenian government has signed a contract with AIUAS LLC to complete specific objectives with the provided funds.

VTB bank provides financial services & acts as intermediary for the contract between AIUAS LLC & Armenian government.

Initial development is focused on developing technology prototypes & products. The lab does not yet exist as a facility & therefore does not have a physical address.

Additional funds are required to create a facility with technical equipment & employ a team of both diaspora & local Armenians.

Allen plans to develop the education & research part of the lab through a non-profit development foundation.