The DHARMA initiative is one of the biggest elements in the LOST mythology. The name actually stands for The Department of Heuristics And Research on Material Applications Initiative.
It was created in the year, 1970 by Gerald and Karen DeGroot. Also the initiative was Hanso foundation, through Alvar Hanso.
In 1970 two Doctoral candidates from the University of Michigan, namely, Karen and Gerald DeGroot were the founders of the DHARMA Initiative. The Initiative was financial backed by the rich and powerful Hanso Foundation.
It did the task of bringing together "scientists and free thinkers" from around the globe. All these thinkers and scientists were gathered at a "large-scale communal research compound". They were brought together as an attempt to conduct full fledged research in various disciplines. The disciplines being researched in the initiative include meteorology, psychology, zoology, parapsychology, electromagnetism, and a sixth discipline that is simply identified as "utopian social . . . .” The full name of this discipline is never heard
The island in LOST is actually a home to a number of several stations that were once and still continue to be a important part of the DHARMA Initiative. There are a total of six stations on the island and each of them corresponds to one field of research conducted as stated above.
Two of the stations established on the island have been found in an unusual stage. It has the word "QUARANTINE" painted on its insides. It is not known whether the stations have actually been quarantined. Also it is not clear whether the other stations have the same warning. It is also not clear that like these two stations, the other stations are occupied or not.
All said and done, the DHARMA Initiative plays an important role in the whole series.