Baku to create new ecosystem of support for start-ups

ICT Materials 13 February 2018 20:24 (UTC +04:00)

Baku, Azerbaijan, Feb. 13

By Huseyn Valiyev – Trend:

A new ecosystem for supporting start-ups will be created within the framework of the project on forming an innovation center by the High Technologies Park in Baku, a source in the country's IT market told Trend.

The innovation center will be based in the building of the Khatai telecommunication center of the Baku Telephone Communication LLC. Work on the construction of the center is planned for the current year.

The source noted that a new approach on supporting od startups will be that the residents of the LLC, like the startups themselves, will be located directly in the innovation center and will directly participate in the development of innovative projects.

The project on the innovation center stipulates the reconstruction of the building with a total area of about 7,000 square meters, where the head office of the LLC, business incubation center, coworking center, laboratories, etc. will be located.

As previously reported, 10 percent of the building's area will be used for administrative needs, and the remaining part will be allocated for start-up projects.