Azernews.Az

By Leman Mammadova

Azerbaijan and the UN Conference on Trade and Development (UNCTAD) have discussed the access of Azerbaijani startups to the world market.

The sides signed Azerbaijan-UNCTAD joint declaration on Cooperation for the Implementation of Sustainable Development Goals during a meeting between Minister of Transport, Communication and High Technologies Ramin Guluzade and UNCTAD Secretary General Mukisa Kituyi, held at Innovations Agency on October 26.

They also discussed prospects for cooperation and the ways of ensuring access of new local companies to the world market.

Later, Mukisa Kituyi met with local startups. During the event, startups operating at the Barama Business Incubation and Acceleration Center, as well as at the innovation ecosystem of Azerbaijan, held presentations of their projects.

The guests were informed about the launch of the new Barama acceleration program. It was noted that the winners of the program will receive various technical, financial, legal and financial services within 12 weeks, and they will be supported in concluding contracts with public and private sector organizations.

At the final stage of the program, the selected projects will be supported in attracting investments.

UNCTAD plays an important role in trade, finance, technology, investment and sustainable development worldwide. Its main objective is to facilitate the integration of developing countries and countries with economies in transition into the global economy through trade and investment.

As startups are mainly related to the application and development of new technologies, Azerbaijani Ministry of Communications and High Technologies is taking important measures to support them.

In this regard, several agencies were created in the country to enhance innovative environment and widespread introduction of new technologies. The Innovation Agency’s goal is to create a dynamic innovation system in the country that serves to transform ideas into products to get access to the market.

Recently, a joint consortium was established with the participation of the Innovation Agency, AzInTelecom LLC and companies Lenovo, Nutanix, and iQRex to ensure the participation of startups in tenders held by various government agencies and individual companies.

The consortium will provide local startuppers with an opportunity to get access to various financial sources, to take part in important projects, including large and medium-sized tenders.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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