Azerbaijan launches new program on innovative startup ecosystem

17 February 2021 12:40 (UTC+04:00)

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By Ayya Lmahamad

Azerbaijan has released a new plan aimed to variety an modern startup ecosystem and infrastructure in the country’s financial state amid the fast growth of technologies.

The opening ceremony of the “Azerbaijan 500 ASAN Startup” program was held in the videoconference structure on February 15.

Throughout the ceremony, it was observed that this plan will help maximize the expertise and expertise of area startups and their entry to investors.

Minister of Transport, Communications and High Technologies Rashad Nabiyev emphasised the results of startups in the region and the significance of sustainable infrastructure and accessibility to foreign financial commitment for ecosystem progress. He extra that the future effective stage will be the cooperation with 500 Startups, which performs an significant role in this sphere.

CEO and Co-founder of the US 500 Startups organization welcomed guidance for startups in Azerbaijan, and actions to produce proficient builders in the startup setting.

The aim of the Azerbaijan 500 ASAN Startup software, structured with the guidance of the Innovation Middle and sponsorship of PASHA Keeping, is to create enthusiasm and give impetus for revolutionary entrepreneurship among the prospective startup builders in the region. In addition, the method will past six months and will include numerous on the web and offline gatherings.

In November 2020, a memorandum of cooperation on startups’ enhancement in Azerbaijan and implementation of enterprise funding systems was signed in between the Condition Agency for General public Support and Social Innovations and 500 Startups. The key target of the agreement is to accelerate the improvement of startups advert the innovation ecosystem in Azerbaijan, to enable local startups to acquire access to the world industry and international traders.

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Ayya Lmahamad is AzerNews’ team journalist, follow her on Twitter: @AyyaLmahamad

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