Innovation Agency of Azerbaijan to implement venture financing

Baku, August 28, AZERTAC

A draft legislation on the establishment of venture capital funds in Azerbaijan is being developed and the Innovation Agency has submitted its proposals in this regard, chairman of the Innovation Agency under the Ministry of Transport, Communications and High Technologies Tural Karimli has told a press conference on the "AZCLOUD Hackathon 2019" Contest.

Karimli mentioned that it is necessary to establish investment models in addition to relevant legislation in order to organize venture capital funds in the country. “It is most likely that the Innovation Agency will be the first to highlight examples of such investment models,” he added.