Consortium of IT companies of Azerbaijan to provide investment support to startups
Baku, Azerbaijan, Aug. 31
By Huseyn Veliyev – Trend:
The members of the AZINNEX Consortium will act as investors of promising projects in the field of information technologies, a source in the IT market of the country told Trend.
This deals with the mechanism of interaction of companies-members of the consortium in order to form a club of investors.
The AZINNEX consortium was established in the middle of last year with participation of 10 IT companies of Azerbaijan. The consortium includes SINAM, Ultra Technologies, BEST Solutions, Neuron, Idrak, Cybernet, BestComp Group, Goldenpay, R. I. S. K. and "Center of innovations".
The main idea of the club formation is that startupers would not be dependent solely on the state support, so that they could find new investors, the role of which could be taken on by the local IT companies, would have the opportunity to commercialize their projects and bring them to the international market.
This refers to a classic form of investment activity, which provides for participation of investors in the development of projects in the capacity of shareholders.
The establishment of the club, as previously reported, is important from the point of view that it will allow to commercialize ideas that require financial support.
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