Baku, Azerbaijan, Feb. 16
By Huseyn Valiyev – Trend:
The State Fund for Development of Information Technologies of Azerbaijan is ready to co-invest in successful startups, press-office of the organization told Trend.
“Everything depends on real chances of projects to enter the international market. Some large projects are being submitted to us, and they need investments much larger than we are able to provide in the framework of the grant financing. Of course, we cannot risk state funds. Our risks are very limited and we assess them from the point of view of efficiency. However, we’d like to co-invest in successful projects, so the fund could increase its income and invest in more successful projects in the future,” the press-office added.
Requirements to receive a grant on implementation of IT projects will be raised, the press-office of the fund added, commenting on the grant financing.
The changes will affect the projects selection process and probably only five or six projects will finally get a financing. Certain requirements will be laid down and only projects able to prove their relevance and development prospects will get funds.
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