Private sector key to formation of innovation ecosystem in Azerbaijan: expert

27 June 2018 17:50 (UTC+04:00)

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Private sector plays an important role in the formation of the innovation ecosystem in Azerbaijan, Rashad Azizov, Head of the Department of Innovative Development of the Information Society and Electronic Governance at the Ministry of Transport, Communications and High Technologies of Azerbaijan said at a training for startups organized at the Azerbaijan Technical University June 27.

Azizov noted that it is hardly necessary to talk about the growth of the economy, if such an initiative does not come from the private sector.

"Now our main task is the formation of this ecosystem. State organizations, ministries and agencies of the country have joined the process. However, young people and students should also be active. They are the future businessmen. A small idea can turn them into rich entrepreneurs. They only need to work on these ideas, and such activities will help them, and contribute to the overall development. It is one thing to come up with an idea, but it is totally another thing and a very complex process to introduce the idea into a real business. We are ready to do everything we can to help in this matter," Azizov said.

He noted that there are a number of state agencies in Azerbaijan that support the development of startups, including the State Fund for Development of Information Technologies of Azerbaijan, High Technology Park LLC and other institutions.

"Many institutions hold competitions for startups, but as practice shows, this is not followed by further support for promising ideas. We wish that every idea would receive continued support. For example, we are now holding a contest titled "From Idea to Business", which is a part of the innovation ecosystem developed in the country. Now projects are being selected in the regions of the country, which will eventually be invited to the Bakutel exhibition," Azizov said.

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