The concept of Addis Ababa Science and Technology University had a direct and reasonable connection with the growth and transformation of Ethiopia. The establishment of well institutionalized and strong science and technology universities and institutes of technology will serve as a cornerstone to build an economically developed and industrialized state of Ethiopia. As a result, AASTU was founded in 2011 under the Directive of the Council of Ministers No. 216/2011 by admitting the first batch (2000 students) in November 2011.

Currently, the university has enrolled more than 8000 undergraduate (under regular and continuing education program) and close to 700 postgraduate students under its nine applied sciences, technology, engineering and ICT focused schools. AASTU is a university in the making, and much of its short-term plans aim at establishing academic infrastructures and facilities, staff recruitment and manpower development.