Azernews.Az

The House of Representatives of Illinois state will provide the necessary financial support for cooperation of the US state finance funds with the Azerbaijani State Fund for Development of Information and Communication Technologies, the House Speaker Michael Madigan said at a meeting with Azerbaijani Minister of Communications and Information Technologies Ali Abbasov, the ministry said.

Appreciating the achievements of Azerbaijan, the speaker spoke about the work implemented in the state of Illinois, including Chicago.

In turn, Abbasov informed the U.S. delegation about the main activities of the ministry, large-scale projects implemented in Azerbaijan in the field of information communication technologies (ICT), the level of ICT development in the country.

According to the minister, one of the major projects, implemented in Azerbaijan, along with the project on the launch of telecommunication satellite Azerspace-1 to orbit and the creation of an 'e-government', is a project on establishment of the State Fund for Development of Information and Communication Technologies in Azerbaijan. The fund will begin funding projects in 2013.

The initial budget of the fund is expected to reach 15 million manat. This amount was requested by the ministry from the state budget for 2013.

The fund will provide direct financial support to promising 'start-ups' (Start-up is a business idea, designed for quick implementation) in science and technology.

Its primary aim is to conduct public policy on development and support of small enterprises in scientific and technical fields, providing them with direct financial assistance, training, which, in turn, will facilitate the creation of new jobs.