BAKU, Azerbaijan, March 2. Azerbaijan's Innovation and Digital Development Agency supports the development of alternative sources of funding in the country, said Inara Valiyeva, Chairman of the Innovation and Digital Development Agency under Azerbaijan's Ministry of Digital Development and Transport, Trend reports.
She made the remark at the conference on the topic: "Prospects for the development of alternative financial markets in Azerbaijan".
According to her, the agency, with the support of startups and startup projects, aims to increase the number of fintechs in the country.
"We are ready to help startups in accelerating projects, attracting investments, and presenting the project to investors. We expect that the Azerbaijani venture fund will serve as a good platform for financing small startup projects," she said.
Valiyeva said that it is expected to increase the capital of the venture fund by $20 million this year.
"The creation of such and other alternative sources of financing for SMEs and startup projects will become a driver of entrepreneurship development in our country," she said.