Strategy development to be main priority in start-up promotion in Azerbaijan - expert
BAKU, Azerbaijan, Sept. 21
By Fidan Babayeva - Trend:
The main priority for start-up promotion in Azerbaijan will be development of adequate strategies and reduction of the possible impact of the coronavirus pandemic, Director of the Center for Analysis of Economic Reforms and Communication (CAERC) of Azerbaijan Vusal Gasimli said, Trend reports.
Gasimli made the speech at a conference jointly with the British Council on the ‘Startup movement during the COVID-19 pandemic: challenges and opportunities’ topic.
The pandemic, along with other areas, has also put before the country's startups the new realities, he said.
An extensive work continues in Azerbaijan to stimulate the development of startups in the field of financial technologies, Gasimli said.
Incubators and accelerators have been created in the country, the task of which is to provide mentoring and consulting services, as well as to assist startups in developing business plans and conducting appropriate paperwork.
Then Professor Matthew Gordon from Newcastle University spoke about the impact of the COVID-19 pandemic on the startup's business model.
The conference was also attended by the Director of the British Council for Azerbaijan Samr Shah.
The negative impact of the quarantine regime on the Azerbaijani economy is an inevitable fact, and micro-entrepreneurs (startup owners) are on the list of those most affected by the pandemic. In this regard, in Azerbaijan, in accordance with the order of President Ilham Aliyev, a package of state support programs for various sectors of the economy and business was adopted. Totally, its budget exceeds 3 billion manat ($1.7 billion).
(1 USD = 1.7 manat on Sept. 21)
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