The Friends of Conservatory Foundation, with the sponsorship of Mr. Raffy Manoukian, has organized the 2nd Levon Chaushyan Competition for the Komitas State Conservatory students of Yerevan and Gyumri.

In 2023 the Competition was open for woodwind and brass instruments. Both students and their professors have been awarded a prize fund of more than 2 million AMD.

In 2024 the Competition will be open for opera singers and will be held in Gyumri.