Fundacion Ayacucho is an institution that was formed under Venezuela’s Ministry of Science, Technology and Innovation sector in 1975 with the aim of contributing to the training of professionals in the technical and scientific sectors so that they could advance Venezuela’s technological development. These sectors had been identified as priorities in the development plans of Venezuela. Over 35 years the foundation has trained more than 135,000 Venezuelans in both domestic and foreign educational institutions. Today the goal remains to promote education amongst the Venezuelan population that resides in the low income bracket. The foundation previously granted around 3000 scholarships annually, however, due to the restructuring of the foundation and its funding since 2006, it has been able to grant around 15,000 per year.