EBRD supports startup development and IT ecosystem in Azerbaijan
Baku, November 5, AZERTAC
The European Bank for Reconstruction and Development (EBRD) continues to actively support the growth of the digital economy and innovative entrepreneurship in Azerbaijan, said Alkis Vryenios Drakinos, Director, Regional Head of the Caucasus for the European Bank for Reconstruction and Development (EBRD), during his speech at the StrategEast State and IT Eurasian Forum in Baku.
According to Drakinos, one of the bank’s key initiatives is the Star Venture program, which supports early-stage startups.
“Since the program was launched in Azerbaijan in 2022, more than a dozen local startups have gained access to mentoring and investor networks. The program assists young entrepreneurs in turning their ideas into reality and entering international markets,” he said.
The Regional Head noted that the EBRD has implemented more than 200 projects in the field of information and communication technologies (ICT), reaffirming the bank’s strong commitment to advancing Azerbaijan’s digital economy.
One notable example is the Strategist IT Hub project, launched in 2022 with the EBRD’s financial support and in cooperation with the Center for the Fourth Industrial Revolution under the Ministry of Economy.
“As part of the project, 85 young people from Ganja, Lankaran, Sheki, and Nakhchivan received free IT training and job offers. This success demonstrates that through joint efforts, we can create a skilled workforce and new opportunities for the future,” the EBRD representative emphasized.
He added that such initiatives contribute to strengthening Azerbaijan’s human capital and transforming the country into a regional digital growth hub.
Other news in this section
