Azerbaijan talks created start-up projects meeting standards of int’l markets

ICT Materials 17 February 2021 22:34 (UTC +04:00)
Azerbaijan talks created start-up projects meeting standards of int’l markets

BAKU, Azerbaijan, Feb. 17

By Sadraddin Aghjayev - Trend:

Azerbaijan has been creating incubation and acceleration centers, programming schools and a number of other organizations since 2013, Director of INNOLAND center Mammad Karimov said.

Karimov made the remark during an online event entitled "Entering an innovative ecosystem and local startups on the international arena", Trend reports.

"The creation of such centers, schools and organizations is already the formation of a new ecosystem," director of INNOLAND center added.

"We evaluate the success of our projects by such criteria as the investments that have been made in our project, the appearance of the project in the international markets and some others," Karimov said. "We have few such successful projects - no more than ten of the total number of the created projects."

"Moreover, the INNOLAND center has supported, promoted and invested about 60 start-up projects over a period of just over two years," director of INNOLAND center said.

"Some 6-7 projects have been developed in accordance with the world standards," Karimov stressed.

"Here, start-uppers and start-up projects need the state support," Karimov said. "An entrepreneur on a voluntary basis without the state support will be unable to maintain the position in the innovation market for a long time."

In this sphere, the Azerbaijani Cabinet of Ministers approved the criteria for determining a start-up and the rules for maintaining a register of innovative projects open to the public and issuing a start-up certificate.

In accordance with the criteria for defining a startup, legal entities or individuals that meet the criteria and receive a special startup certificate are exempt from taxes in accordance with the Azerbaijani Tax Code.


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