Crowdfunding opportunities expand in Azerbaijan

Business Materials 10 March 2020 15:52 (UTC +04:00)
Crowdfunding opportunities expand in Azerbaijan

BAKU, Azerbaijan, Mar. 10

By Fidan Babayeva - Trend:

For the very first time in Azerbaijan, EnterpriseAzerbaijan.com portal has provided local startups with the opportunity to use crowdfunding in their activities, Manager of the Internet portal Oruj Dursunzade told Trend.

Dursunzade added that the portal cooperates with the State Employment Service within the framework of the self-employment program.

“For the first time, Enterprise Azerbaijan gives local startups the opportunity to use crowdfunding in their activities in Azerbaijan. The portal is integrated into the world’s popular Kickstarter platform, activities in this direction will continue in the coming period,” the portal’s manager noted.

Dursunzade said that at the initiative of Enterprise Azerbaijan and the International Bank of Azerbaijan (IBA), a crowdfunding competition has been announced, adding that the competition will provide professional support for the placement of innovative projects on the Kickstarter platform.

Azerbaijan’s Center for Analysis of Economic Reforms and Communication (CAERC), together with the Enterprise Azerbaijan portal and the University of Newcastle of the UK, is implementing the second phase of the Creative Spark project, Dursunzade said.

For the implementation of relevant projects, the portal also provides the necessary support through Azexport.az - a digital trading hub and the One Window Export Support Center.

The portal operates in three languages ​​- Azerbaijani, Russian, and English.

Enterprise Azerbaijan (http://enterpriseazerbaijan.com/) was created by CAERC in order to ensure the implementation of order of the president of Azerbaijan on additional measures to support competitive domestic production in the non-oil sector dated by September 19, 2018.


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