Azerbaijan's High-Tech Park records new resident companies

ICT Materials 27 November 2020 11:35 (UTC +04:00)
Azerbaijan's High-Tech Park records new resident companies

BAKU, Azerbaijan, Nov.27

By Sadraddin Aghjayev - Trend:

Three more companies operating in the field of high technologies of Azerbaijan have been registered as residents of the High Technologies Park (located in Pirallahi village) of the Innovation Agency under the Azerbaijani Ministry of Transport, Communications and High Technologies, Trend reports citing the ministry.

Registration certificates were presented to the iTicket project of ITICKET LLC, the Smart Bus project of NN GROUP LLC, and several projects of LOF STUDIOS LLC.

The residents will be provided with production areas for activities in the high-tech park, the development of high technologies, research, and development of innovative products and high technologies. These companies will also be able to take advantage of the benefits provided for residents by Azerbaijan’s Tax Code and the Law on Customs Tariffs.

Thus, residents will be exempt from paying income tax/income tax, property and land tax, VAT, and customs duties when importing machinery, technological equipment, and structures for 10 years starting from the reporting year in the technoparks where they are registered.

The residents will implement the following projects:

  • The ‘iTicket’ project of ITICKET LLC, which is a platform based on artificial intelligence (AI) technologies, developed in accordance with international standards. The goal of the project is to bring the Azerbaijani brand of artificial intelligence (Al) to the international market and increase its market share by selling tickets for concerts, theaters, sports events, entertainment, and many others.
  • The ‘Smart Bus’ project of NN GROUP LLC, which will present a new generation bus powered by solar and wind energy. The buses are equipped with technologies that fully comply with environmental standards. The project’s aim is to develop the ‘green industry’ in Azerbaijan, train local specialists in the sphere, promote the brand ‘Made in Azerbaijan’ in the world market in a new direction.
  • LOF STUDIOS LLC (Land Of Fire Studios), which is the first multifunctional studio in Azerbaijan and countries from the neighboring regions, which is engaged in the development and promotion of publishing and selling high-tech digital products such as video games, mobile apps, and cinematography. There are 4 types of projects in the studio: ‘Project BOB’ - mass multiplayer, ‘VICON Motion Capture Systems’ - the systems recording patterns of movement digitally for the purpose of animating a digital character in a film or video game, ‘EMEK’project - a mobile application for eliminating unemployment on the basis of ‘uberization’ (the principle of providing services according to the scheme consumer - electronic site aggregator - performer) and the medical bot project ‘MEDYBOT’. The project is aimed at the online organization of all medical services.

The main goal of the projects is to prevent unemployment, develop the mobile applications and video games industry, and support the development of talented youth in this area.

The number of residents of Pirallahi High Technologies Park has reached seven.


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