The Asian Development Bank (ADB) has approved technical assistance for the INNOLAND Incubation and Acceleration Center as part of its partnership strategy for Azerbaijan for 2019-2023, Trend reports referring to the ADB.
The project is funded by the South Korean Partnership Fund and the amount of technical support is $500,000, which will contribute to the creation of effective and efficient institutional mechanisms at the local level in the country to support technology start-ups.
According to ADB, incubation and acceleration services in Azerbaijan will be provided in the cities of Ganja and Shaki through the Ganja State University and the Azerbaijan State Agrarian University, as well as through the Innoland Sheki branch.
Since 1999, the ADB has allocated funds in the amount of $4.4 billion to the country within the framework of cooperation with Azerbaijan.
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