BAKU, Azerbaijan, Dec. 30
By Sadraddin Aghjayev - Trend:
General registration of startups Azerbaijan, as well as their categorization process, are carried out in accordance with the charter of Azerbaijan’s Innovation Agency under the Ministry of Transport, Communications and High Technologies, a source in the agency told Trend.
According to the source, the procedure for categorizing startups is a two-stage check of a startup for compliance with accepted international standards to determine the level of development of a startup and category (A, B, C, D, E) to which it belongs.
There are currently about 250 classified startups in the startup database. Of these, 35 percent are startups in categories A, B, C, and the rest are in categories D and E.
Startups corresponding to one stage or another are categorized as:
E - (Concepts) ideas;
D - Active ideas;
C - Initial sales;
B - Sales of products and experiences;
A - Enterprise development.
Start-up projects in the field of education and e-commerce rank first in the start-up base.
Thus, the directions of activity chosen by startups are as follows:
1. Education;
2. Electronic commerce;
3. Security;
4. Social networks, media, and advertising;
5. Entertainment;
6. Transport and logistics;
7. Finance;
8. Agricultural sector;
9. Smart cities;
10. Design, art, tourism.
Azerbaijan is conducting a number of activities to develop the countrywide startup-ecosystem. As a part of the activities, a memorandum of cooperation in the field of entrepreneurship development and an agreement on joint activity were signed between the Innovation Agency and the US 500 Startups venture fund and startup accelerator, as well as several other documents and decisions in the field of ICT development, foreign commerce and e-commerce of the country were adopted.
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