Azerbaijan to set up club of investors to finance start-ups [UPDATE]
![Azerbaijan to set up club of investors to finance start-ups [UPDATE]](https://www.azernews.az/media/2018/08/17/ramin_guluzade_290716_03_(1).jpg)
By Trend
A club of investors will be set up in Azerbaijan soon to finance start-up projects, Azerbaijani Transport, Communications and High Technologies Minister Ramin Guluzade said.
Guluzade made the remarks at a meeting with the winners of the 6th grant competition held by the State Fund for Development of Information Technologies in Baku Aug. 17.
“All efforts are directed for Azerbaijani start-ups to be always in search of alternative financial sources,” he said.
"To date, 903 innovative projects have been sent within the grant contests being held by the State Fund for Development of Information Technologies, of which 117 projects have been provided with grants,” he said. “Among the implemented projects 20 have been commercialized. I think that the grants that have been already issued, play an integral role in building start-up business."
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