Minister: 'Necessary conditions will be created in Azerbaijan to help young people realize their innovative ideas"


"Innovative entrepreneurship is one of the main directions of the future economic development of Azerbaijan over the next 8-10 years. In this context, necessary measures must be certainly taken to insure the successful development of startup companies in the republic”, said the minister of communications and information technologies Ali Abbasov during his interview with journalists.

"Today, there are a lot of highly intellectual young people in Azerbaijan who want to start their own businesses. Necessary conditions must be created for these young people in order to help them realize their intellectual potential. Certain measures will be implemented towards the realization of startup projects, including lending investment money to young people on favorable terms. There are special funds in the country that provide financial support to startup companies. The State Fund for Development of Information Technologies is one of these funds. Our activities also include construction of industrial parks, creation of favorable conditions for the development of startup companies, such as introduction of discounted taxes and custom duties for them, attraction of investments and holding joint discussions of proposals with investors. We will continue our work in this direction in order help young people realize their innovative ideas.”