BAKU, Azerbaijan, May 24
Trend:
Financing of projects in the field of education, science, research and support for micro, small and medium-sized enterprises has begun in Azerbaijan, the State Agency for the Development of SMEs told Trend.
Contracts have already been signed with the winners of the first competition announced for this purpose.
The corresponding funds will be transferred to the bank accounts of the competition winners.
On May 24, the agency organized an event with the participation of the winners. Congratulating them, Orkhan Mammadov, chairman of the agency, noted that the first competition for financing projects in the field of education, science, research and support for SMEs was organized on the basis of the rules approved by the decision of the Cabinet of Ministers of Azerbaijan.
Mammadov stressed that despite the fact that the competition was organized for the first time, the interest in it was great. In total, 329 projects were presented, of which 129 projects were prepared by legal entities, and 193 - by individuals, including 319 micro-business entities and three small business entities.
Of the projects submitted for the competition, 128 projects cover the field of education, 99 - support, 32 - research, 5 - science, and 65 - multidisciplinary projects.
By a collegial decision of the Expert Commission, a decision was made to finance 15 projects covering such areas as fuel economy, development of various devices and software, waste recycling, waste-free production, obtaining international certificates and patents, as well as providing employment for women. For each project there was allocated the amount from 14,000 manat ($8,200) to 20,000 manat ($11,700).
To inform SMEs about the competition and to support the development of projects, the agency held educational events, including a webinar, and SME centers provided entrepreneurs with consulting services, and trainings were held.
Mammadov noted that the agency is interested in the sustainability and usefulness of projects for the SME sector, as well as in the development of the mechanism as an effective support measure. The agency will monitor the implementation of projects and the use of funds for their intended purpose.
Thus, to ensure transparency and accountability, monitoring will be carried out and the public will be regularly informed about the project implementation process.
The agency’s chairman also noted that the competition winners can apply to the agency for additional support and receive a Startup certificate. This document will exempt the winners of the competition from income tax and income tax on income from innovative activities for a period of three years.
During the event, Najaf Guliyev, director of the Center for Ensuring Intellectual Property Rights under the Intellectual Property Agency, spoke about the activities of the center and added that the winners of the competition will be able to use the services of the center.
The agency reminded that the acceptance of documents for participation in the competition for financing projects in the field of education, science, research and support of SMEs was held from February 17 to March 18, 2021.
The examination and evaluation of the projects had been conducted from March 19 to April 23, and the first meeting of the Expert Commission took place on April 30.
