BAKU, Azerbaijan, January 19. A total of 54 startup certificates were issued to innovative Azerbaijani entrepreneurs in 2022, Chairman of the Management Board at the Small and Medium Business Development Agency (SMBDA) Orkhan Mammadov said during a press conference on the 2022 results, Trend reports.
According to him, as many as 98 applications for a certificate were submitted to the Agency in 2022.
Meanwhile, the number of SMEs in Azerbaijan that received startup certificates has reached 81.
Startup certificates exempt entrepreneurs from income tax for three years from the date of its receipt. In total, these certificates are provided for projects in the agriculture, manufacturing, and e-commerce sphere, including mobile applications, financial technologies (fintech), online platforms, and innovative solutions.
Micro and small enterprises, and projects which are under development, should apply to obtain startup certificates.