Baku, Azerbaijan, Aug. 12
By Huseyn Veliyev - Trend:
The State Fund of Information Technologies of Azerbaijan has signed a contract with entrepreneurs in the IT sector on grant funding of 31 startup project, the State Fund told Trend.
The fund noted that these projects have already been evaluated by the expert group on the criteria approved by the Supervisory Board of the State Fund.
The State Fund reported that the grant funding for projects is expected to be launched in the near future.
The projects to receive public funding cover the areas of high-tech, e-payment, software applications, the air navigation system, e-government, e-commerce, as well as projects in education, health and others.
The maximum grant amount can reach 300 thousand manats (for 36 months). Small grants are provided in size from 10 thousand to 100 thousand manats, medium - from 100 thousand to 200 thousand manats, and large - from 200 thousand to 300 thousand manats.
The State Fund for Development of Information Technology was established in accordance with the presidential decree of March 15, 2012.
The main objectives of the fund are implementation of the state policy on development and support of small enterprises in scientific and technical spheres, providing them with direct financial assistance, training, which in its turn will contribute to the creation of new workplaces in the country.