Baku, Azerbaijan, April 16
By Huseyn Valiyev - Trend:
The State Fund for the Development of Information Technologies of Azerbaijan will complete accepting projects within the sixth stage of a grant competition by late April, the State Fund told Trend.
The competition was launched on March 1 and few projects have been submitted so far.
"We expect active submission of applications by the end of the month. In general, there has been a growth in the number of projects financed by the State Fund over the past few years. The overwhelming majority of the applicants were students. It is great that their ideas and projects have chance of turning into commercial products. The fact that competitive environment has been formed in this sector is important, and this is the key to success. The State Fund is ready to provide the necessary support for their development."
Following selection of applications, evaluation of projects will be carried out in two stages [primary and complex examination]. Initial examination will take 15 working days, and complex examination - 20 working days.
The final decision on financing will be taken at the level of the Supervisory Board of the State Fund.
The maximum amount of a grant to support IT projects can reach 300,000 manats (for a period of 36 months). Small grants are issued in the amount of 10,000 to 100,000 manats, medium - from 100,000 to 200,000 manats, and large ones - from 200,000 to 300,000 manats.
($1 = 1.7 AZN on April 16)