Baku, Azerbaijan, July 13
By Huseyn Veliyev - Trend:
The Council of the State Fund for the Development of Information Technology of Azerbaijan will decide on grant financing of startups participating in the sixth grant competition until the end of the week, a source in the country's IT market said Trend on Tuesday.
In accordance with a comprehensive examination of start-ups there were about 40 projects. In total, 149 projects were submitted for the competition.
The financial support is claimed for projects aimed at developing software, preparing 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 expanding IT services and services based on the Internet.
The selection of applications was conducted from March 1 to May 1, 2018. The evaluation of projects was carried out in two stages (primary and complex examination), and in total this process took 35 working days to complete.
The maximum amount of a grant to support IT projects can reach 300,000 manats (for a period of 36 months). Small grants are envisaged 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.
The official rate for July 10 is 1.7AZN/USD.
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