Azerbaijan science needs venture capital

Azerbaijan, Baku, August 6 /Trend, H.Veliyev/

Venture capital should be invested for the development of Azerbaijani science and realizing scientific ideas, said the Director of the Information Technologies Institute of the National Academy of Sciences of Azerbaijan, Rasim Aliguliyev.

According to Aliguliyev, unlike investments in other sectors of the economy, investment in scientific projects is fundamentally different.
"Investments in other economic sectors are made, based on those calculations what revenues they can bring after certain period. Unlike investments in other economic sectors, investments in the development of intellectual ideas are of little interest today. Because the venture investing is accompanied by certain risks and the investor can not simply return the invested funds back. But, nevertheless, the Azerbaijani science today needs the venture capital. And if to look at developed countries, due to venture capital, technology parks were built there, and company began to appear, which today occupy leading positions in the world," said Aliguliyev.

According to the director of the institute, to ensure that the economy is based on innovation, it is necessary to study the experience of countries that through innovative ideas and know-how, have been able to build their economies and take a leading position in the world.

Today under the grant programs of the Scientific-Research Fund of the Ministry of Education, Science and Technology of Korea, the Institute of Information Technologies cooperates with leading professors in this country. Seven highly qualified professors, one of whom is already in Baku,  are expected to arrive in Baku within the cooperation.  

Arrival of professors in Azerbaijan will be the basis to implement innovative ideas and scientific achievements of Azerbaijani scientists, Aliguliyev said.

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