Azernews.Az

Nazrin Abdul

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Over the past four years, the number of households in Azerbaijan with access to stable, high-speed broadband internet has increased 13-fold, reaching nearly 3 million. As a result, the country has achieved full nationwide coverage with fixed broadband services.

Azernews reports that Deputy Minister of Digital Development and Transport, Samir Mammadov, shared this information during the final presentation of an innovation program implemented in the regions.

He noted that the expansion of broadband infrastructure is a key strategic step in shaping Azerbaijan’s digital future.

Mammadov added that data has been collected from these resident companies to better support their business development. Based on this data, the next phases of support mechanisms are being planned, including new initiatives aimed at helping these companies grow and boost their export potential.

The Deputy Minister also emphasized the broader progress within the country's innovation ecosystem:

"With the support of IRIA (Innovation and Digital Development Agency), more than 600 startups have received support over the past three years through various incubation and acceleration programs, hackathons, and ideathons. Of these, over 275 have successfully advanced to the Minimum Viable Product (MVP) stage."

He highlighted the active involvement of regional stakeholders, universities, and both local and international partners, which has enabled Azerbaijani startups to tackle diverse sectors such as e-commerce, health tech, edtech, agritech, fintech, green technologies, IoT, big data, and gaming.

Furthermore, Mammadov noted that the development of venture capital mechanisms in Azerbaijan has reached a new stage:

"In recent years, more than $15 million in venture capital has been raised through various newly established funds. Of that, over $2.2 million has already been invested in startups operating in the regions."