BAKU, Azerbaijan, May 26. A total of 11 enterprises within the Azerbaijani Small and Medium Business Development Agency (SMBDA) are participating in the TEKNOFEST International Aviation, Space and Technology Festival, the SMBDA Board Chairman Orkhan Mammadov told reporters on May 26, Trend reports.
According to Mammadov, start-up projects at the festival are being presented mainly in wind and hydropower.
"The main goal of the participation of our enterprises in TEKNOFEST is to demonstrate their capabilities and attract potential investors. In 2021, one of the Azerbaijani IT startups attracted an investor from the US. Our agency implements and encourages start-up projects both at the international and local levels," he said.
TEKNOFEST in Baku is being held on May 26-29 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.