BAKU, Azerbaijan, May 26. Over 50 teams with thousand of participants from 25 countries participate in the TEKNOFEST International Aviation, Space and Technology Festival in Baku, Minister of Digital Development and Transport of Azerbaijan Rashad Nabiyev told reporters, Trend reports.
Participation of investors and heads of venture capital funds in the festival will provide an opportunity to attract investments in these projects, the minister noted.
"Today's participants of the TEKNOFEST festival will gain not only cash prizes but also a great experience. The festival will also allow the teams to set up their technology companies in the future," Nabiyev added.
The upcoming festival will be held in Azerbaijan on May 26-29, 2022. TEKNOFEST in Baku is held by the Ministry of Digital Development and Transport of Azerbaijan. At the same time, the TEKNOFEST production office operates in Baku. The full staff of the office consists of Azerbaijani specialists.
The event has been held annually since 2018, with the joint organization of the Turkish Technology Team Foundation, which is managed by the Turkish Ministry of Industry and Technology and the technical director of Baykar Makina, in partnership with more than 60 Turkish state institutions, universities and private companies.
The goal is to popularize such areas as aviation, space industry and digital economy, to encourage entrepreneurship in these areas, to identify the knowledge and skills of young engineers through competitions organized within the framework of the festival, as well as to present national technologies to the general public.