ROIC ROIC_e-book-2 | Page 9

This is where the next stage of the value chain process begins, supported by the Acceleration Area . The companies’ final products created in the Acceleration Area are then presented in the Customer Experience Area . Through showrooms, exhibition halls and other facilities, the Customer Experience Area aims at promoting cutting-edge products and solutions. This area will contribute to the popularization of science , technology, and innovations, by taking orders from private and public organizations. Apart from that, the Customer Experience Area will act as a bridge between the STI ecosystem, Government and ROIC, providing an access point for regional Governments to test new innovations and novel discoveries. The Government's engagement in the innovation process is one of the critical components of ROIC. Regional Governments can use the Experimentation area to do prototyping for government sanctioned innovation. The government can pilot test a number of initiatives (such as congestion fees, smart city components) at ROIC, which can later be designed and produced by local startups and businesses, instead of purchasing them from abroad. ROIC aims to catalyze and boost regional and global innovation by maintaining active partnerships and collaborations with Governments, Academia (research and higher education institutions) and the Private Sector . ROIC is: the anchor point for international cooperation and catalyzing multidisciplinary research between Armenian, regional and international scholars a pipeline for STI breakthroughs, increasing regional competitiveness and strengthening global economic, social and environmental conditions a regional hub for advanced research and breakthrough technologies which will be at the nexus of solving economic, environmental, and social challenges; with a commitment to “future backward” approach to challenges a catalyzer of public policy reforms and structural reforms for boosting STI in Armenia and the wider region. ROIC will catalyze the STI ecosystem of Armenia by including all the necessary components; knowledge base (scientists, researchers, students), entrepreneurial base (budding entrepreneurs, startups, SMEs) and financial base (angels, VC funds, other financial institutions).