Resilient startup ecosystem to favor IT industry's growth in Azerbaijan - DIS Group

ICT Materials 22 September 2022 19:31 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, September 22. The formation of a resilient startup ecosystem will lead to increase of attractiveness of innovation activity and steady development of the IT industry in Azerbaijan, Deputy Director of the DIS Group Consulting Division Sergei Yevtushenko told Trend.

According to Yevtushenko, the government of Azerbaijan is providing support to appearance of both local and international professional venture investors, development of infrastructure, technology parks and innovation centers in the country, forming respective legal framework.

“Such steps greatly increase the interest of both applicants and investors. Startups are a showcase for talented people and innovative ideas, but rather often large companies seek to use these opportunities for their own benefit," he said.

"Given the shortage of talented specialists, these companies employ them, apply their innovations, receive additional profit and don’t always fully share it with the authors of ideas. This situation occurs in many markets, including in Azerbaijan."

Yevtushenko stressed that the startup ecosystem market is gradually changing for the better, both globally and in Azerbaijan.