The final presentation of “Startup Azerbaijan 2014” project, which was carried out in Azerbaijan with the aim of improving the investment climate in the ICT sector, identifying best internet and IT projects and turning innovative ideas into successful business fields, and a conference under the theme “Provision of support by the state, private sector and private investors for the formation of ‘Startup’ environment (ecosystem) in Azerbaijan” were held in Baku with the support of the Ministry of Communications and High Technologies (MCHT) of the Republic of Azerbaijan, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of the Ministry of Communications and High Technologies (MCHT) of the Republic of Azerbaijan.
Speaking at the conference Minister of Communications and High Technologies Ali Abbasov emphasised the important role played by the state economic policy in the development of innovative entrepreneurship in the country. Minister said that the Government of Azerbaijan was taking concrete measures towards developing the country’s economy, improving the business environment and developing both oil and non-oil sectors in the republic.
Touching upon “Azerbaijan 2020: vision to future” Development Concept, A.Abbasov noted that the concept provides for the investment of oil revenues in such areas of the country’s economy as innovations, high technologies and production of competitive goods. He said that these measures will help to considerably reduce Azerbaijan’s dependence on oil.
“The National Entrepreneurship Support Fund, State Fund for Development of Information Technologies and the Science Development Fund (SDF) under President of the Republic of Azerbaijan provide grants and preferential loans to startups in order to develop innovative entrepreneurship, increase local companies’ activities and enhance the competition environment in the country. MCHT closely cooperates with SDF in this area.”
Speaking about the other activity directions of the ministry, A.Abbasov pointed out that MCHT was preparing proposals for providing special privileges to the investors who make investments in startups and, in this way, promote the development of innovative entrepreneurship in the republic. Minister stressed the importance of easing tax burden for innovative entrepreneurs and strengthening the knowledge potential for facilitating the transition to a knowledge-based economy.
President of the Azerbaijan Internet Forum, director of “Multimedia” Information Systems and Technologies Centre Osman Gunduz also spoke at the conference. He provided the gathering with thorough information about “Startup Azerbaijan” project. He said that the project was launched in April 2014 in Azerbaijan.
“Since that time a team has been formed, experts and mentors have been identified and project’s official website “www.startup.az” has been updated. A total of 47 projects were presented for 2-month competition. 28 projects out of them, which were meeting the competition rules, were admitted to the competition. These projects were sent to experts for evaluation, and a special Evaluation Table and Evaluation Guide were developed for experts. Based on the results of the initial evaluation, 15 projects were selected out of the 28 projects for the semi-final. On 22 June 2014, the semi-finalists presented their projects to the experts. Each semi-finalist made a 3-minute presentation of his project before 8 experts. Based on the result of the expert evaluation of the presented projects, the following 6 projects were selected for the final and were announced the winners of the competition: “Beth Clip”, “Butarek”, “İwork.az” “WEARn”, “Al-gətir”, “xercim.az”. The competition winners were awarded with diplomas and valuable gifts from “CyberNet”, “SINAM” and “Smart Systems” companies.”
Then, discussions under the topic of “Provision of support by the state, private sector and private investors for the formation of ‘Startup’ environment (ecosystem) in Azerbaijan” were held. Towards the end of the conference, a closed meeting between startups and investors was held.
