Azerbaijani incubation and acceleration center talks investments

ICT Materials 7 February 2020 11:41 (UTC +04:00)
Azerbaijani incubation and acceleration center talks investments

BAKU, Azerbaijan, Feb. 7

By Nargiz Ismayilova - Trend:

To date, INNOLAND Incubation and Acceleration Center of the State Agency for Citizen Services and Social Innovations under the President of Azerbaijan has attracted investments in the amount of 1.2 million manat (over $705,880), the center's Director Mammad Karim told Trend.

Acording to the director, 75 percent of the total amount came from local investors, while the remaining 25 percent fell to the share of foreign investors.

Last year, the center provided various kinds of support directly to 52 startups, most of which are active today, Mammad Karim said.

Currently, the center is actively cooperating with 20 international organizations.

INNOLAND is an incubation, acceleration and research center, created to develop the private sector, promote innovation and expand the start-up movement in Azerbaijan and beyond. INNOLAND consists of co-working, incubation, acceleration and an IT training center. The co-working center is a profitable approach combining many opportunities for organizing work for startups, programmers, people working in the field of innovation, alone or in a small team.


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