BAKU, Azerbaijan, March 31. Azerbaijani startup companies took part in the Global Entrepreneurship Conference held on March 27-30 in Riyadh, Trend reports via Azerbaijan’s Small and Medium Business Development Agency (SMBDA).
According to the agency, the companies presented their projects to foreign investors and held a number of meetings.
The conference was organized by the Saudi Arabian Small and Medium Enterprises General Authority (Monsha’at) and the Global Entrepreneurship Network (GEN) with the support of SMBDA, and attended by hundreds of representatives from different countries.
One of the activities of SMBDA is to support the development of a startup ecosystem. The agency issues a "Startup" certificate to micro and small businesses, exempting them from profit tax and tax on income from innovation activities for three years.
"Unibroad" LLC and "Supply Chain Community" LLC, which represented Azerbaijan at the conference, received "Startup" certificates, as well.
The SMBDA also provides grants to support local start-up projects, carries out various activities to bring them to world markets.