Azerbaijan, Baku, Aug. 11 / Trend H.Valiyev /
The fundamental research will be financed by the Azerbaijani state budget, the Institute of Information Technologies of the Azerbaijani National Academy of Sciences (ANAS) said.
Today, self-repayment and profitability of fundamental research in Azerbaijan and many world countries are not real. This issue was not discussed even in developed countries. The research remains in most cases without investors. It is stipulated by the high level of risk.
Therefore, the state takes over the functions by paying them directly from the state budget.
Earlier, Director of the Information Technology Institute (ITI) of the ANAS Rasim Aliguliyev told Trend that 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.
Venture capital should be invested for the development of Azerbaijani science and realizing scientific ideas, he said.
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.