Bizon 1: How Hunger for Success was Rewarded

Bizon 1 is a small company born out of an agricultural research institute struggling for finance after the fall of the Soviet Union. While this posed a challenge for research, it also created favorable conditions for some people to develop enterprises based on their innovations and talents. One such person is Suren Harutyunyan – formerly a physicist and now founder and executive manager of Bizon 1. Initially, Dr Harutyunyan produced valuable products from food and agricultural wastes. Throughout the industry, fruit kernels and other parts are thrown away after being processed. This economic model was based on turning these into valuable products with no or hardly any raw material expenses. Together with colleagues, he hired premises in the research institute and soon set up a production unit in a suburb of Yerevan. The unit used local equipment and chemical solvents were not used.