On November 18, the Mingachevir State University hosted a meeting of representatives of the State Fund for Development of Information Technologies under the Ministry of Communications and High Technologies and the High-Tech Park with startups operating in the region.
The meeting began with an introductory speech by the rector of the Mingachevir State University Akif Hajiyev, who spoke about the creation of an innovative business incubator at the University.
The executive director of the State Fund for Development of Information Technologies (SFDIT) Elchin Zeynalov informed the participants about the purpose of the meeting and the support provided to startup projects.
Deputy Director of the High-Tech Park under the Ministry of Communications and High Technologies Kanan Bayramov noted that there were good opportunities for starting new projects and developing business in the field of high technologies. He also touched upon the development of the existing ecosystem.
The event was also attended by representatives of the Mingachevir High-Tech Park, Mingachevir Youth House and other members of the startup ecosystem.
Then, a presentation of the projects that had won the grant competition of the State Fund for Development of Information Technologies – “Intelligent multi-conductor”, “Learn, implement and win”, “enjoymingo.az” and “Handmade trade” – was held.
In conclusion, the authors of these projects were awarded with certificates of the Ministry of Communications and High Technologies of the Republic of Azerbaijan.
Note that a total of 121 projects relating to such areas as service development, infrastructure improvement, innovative solutions were presented to the last grant competition. After passing successfully the evaluation phase of the grant competition, 112 of these projects entered the comprehensive evaluation phase. 61 out of these 112 projects received positive feedbacks during the comprehensive evaluation.
Based on the results of voting by the members of the Supervisory Board, a decision was made to finance 29 of the 61 projects. The total sum of the grants amounted to 395,000 AZN.
It should also be noted that the SFDIT supported the creation of business incubators in Azerbaijan State Economic University, Azerbaijan State Oil and Industry University, Azerbaijan Technical University, Azerbaijan University of Architecture and Construction, Lankaran State University, Mingachevir State University and Ganja State University.
The main purpose of creation of such business incubators and centers is to increase young people's interest in the ICT field.
The Fund continues to support the process of creation of new business incubators in universities and conducts regularly information sessions to support the realization of projects in the incubators.