Azerbaijan launches new program to create innovative startup ecosystem

  16 February 2021    Read: 857
  Azerbaijan launches new program to create innovative startup ecosystem

The opening ceremony of the ‘Azerbaijan 500 ASAN Startup’ program was held in Azerbaijan, the State Agency for Public Service and Social Innovations (ASAN Service) under the President of Azerbaijan told AzVision.az.

According to the Chairman of the ASAN Service Ulvi Mehdiyev, this program will contribute to the formation of an innovative ecosystem and infrastructure in the country in the context of the rapid development of technologies.

Minister of Transport, Communications and High Technologies of Azerbaijan Rashad Nabiyev stressed during the ceremony that Azerbaijan has already achieved certain success in the startup ecosystem, a sustainable infrastructure has been built and work is underway to provide access to foreign investment in order to develop the ecosystem.

Kristina Tsai, CEO, and Co-founder of the US ‘500 Startups’ company welcomed support for startups in Azerbaijan, as well as measures to develop talented developers in the startup environment.

“The goal of the ‘Azerbaijan 500 ASAN Startup’ program with the support of the Innovation Center and sponsorship of PASHA Holding is to generate enthusiasm and give impetus to innovative entrepreneurship among potential start-up developers in Azerbaijan,” the ASAN Service said.

Within the program, which will last six months, many online and offline events will be hosted.

In November 2020, a memorandum of cooperation on the development of startups in Azerbaijan was signed between the State Agency for Public Service and Social Innovations (ASAN Service) under the President of Azerbaijan, the US Venture Fund, and the ‘500 Startups’ startup accelerator.


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