ECONOMY


Joint public-private partnership action plan for development of Azerbaijan’s innovation ecosystem discussed

Baku, June 14, AZERTAC

A meeting has today been held between the Ministry of Digital Development and Transport (MDDT), the Innovation and Digital Development Agency under the Ministry and the Technovate-Sabah Business Angels Club.

The event was attended by representatives of the local startup community, well-known participants of the innovation ecosystem, founders and investors of the Technovate-Sabah Business Angels Club and media representatives.

At the meeting, an exchange of views took place on the current status of the innovation and startup ecosystem, current challenges, problems and new opportunities.

Ways of financing of training programs for investors, international exchange meetings, supporting joint investment opportunities and promotion of the club were discussed in partnership with the Ministry of Digital Development and Transport, Innovation and Digital Development Agency and the Technovate-Sabah Business Angels Club.

Addressing the meeting, Minister of Digital Development and Transport Rashad Nabiyev welcomed the initiative to establish the Technovate-Sabah Business Club, and stressed the importance of the work of the club for the country’s innovation ecosystem.

“I consider it necessary to implement joint projects with the Technovate-Sabah Business Club in the areas voiced. Our goal is to give impetus to the formation of an investment culture in the country, optimize the business environment, bring local projects to foreign markets and attract foreign investors to the country. We intend to work more closely with potential partners in this direction,” said Rashad Nabiyev.

Farid Ismayilzade, founder of the Technovate-Sabah Business Angels Club, made an extensive presentation, stressing the importance of establishing and supporting venture studios and clubs. Talking of activity of the club, Farid Ismayilzade spoke about projects implemented in Azerbaijan, Georgia and Central Asia, seed financing provided to startups in the early stages of development, and international cooperation.

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