Azerbaijani startups applying for government funding reviewed
Baku, Azerbaijan, June 28
By Huseyn Valiyev - Trend:
The comprehensive examination of startups participating in the 6th grant competition of the State Fund for Development of Information Technologies of Azerbaijan has been completed, a source in the country's IT market told Trend.
Applications were selected from March 1 till May 1, 2018. The projects were evaluated in two stages (primary and comprehensive expert examinations), and the process took a total of 35 working days. 149 projects were submitted to the competition.
The final decision on the grant funding will be made at the level of the Supervisory Board of the State Fund, the meeting of which is expected on June 29.
Projects aimed at software development, preparation of samples of IT-products, development and commercialization of innovative infrastructure and new technologies, creation of network infrastructures built on the basis of modern technologies, as well as projects aimed at the expansion of IT-services based on the Internet are eligible for financial support by the State Fund.
The maximum amount of the grant for support of IT-projects can be 300,000 manats (for a period of 36 months). Small grants are provided in the amount of 10,000 to 100,000 manats, medium - from 100,000 to 200,000 manats, and large - from 200,000 to 300,000 manats.
The official exchange rate as of June 27 is 1.7 AZN / USD.
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