Innovation Agency (Azerbaijan)

The Innovation Agency of Azerbaijan (Azerbaijani: Azərbaycan İnnovasiyalar Agentliyi) is a government organization, which had been established for the purpose of assisting local business entities in acquiring modern technologies and technological solutions, organizing their transfer, supporting innovation-oriented scientific research and encouraging innovative projects, including startups by funding them through grants, concessional loans and venture capital fund.[1][2][3]

Innovation Agency Azerbaijan
Agency overview
FormedNovember 6, 2019
HeadquartersMikail Mushfiq 2H, Baku, Azerbaijan Republic AZ1000
Agency executive
  • Tural Karimli
Websitewww.innovationagency.gov.az

Founding

The Innovation Agency was established under the Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan on the basis of the State Fund for Development of Information Technologies and the High-Tech Park Limited Liability Company, which are subordinated to the Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan in accordance with Decree № 325 of President of the Republic of Azerbaijan Ilham Aliyev dated November 6, 2018.[4]

Main purposes and responsibilities

The main purpose of the Agency is to promote sustainable development and competitiveness of the ICT sector, the expansion of innovative and high-tech industries based on modern scientific and technological achievements, the development of modern technologies for conducting research and development of new technologies.

The main mission of the Agency is to develop high-tech economy through favorable conditions created in Azerbaijan and the region by economic privileges, business services and advanced equipment.

The purpose of the Innovation Agency is to promote the production of innovative and high-tech products and the provision of services under the “Made in Azerbaijan” brand, as well as to create conditions for existing local brands to enter in the international arena, to identify products and services for digital transformation, to support intellectual solutions on robotic and cloud technologies, large-scale data processing and artificial intelligence.

The Agency also has a Business Incubation and Acceleration Center[5] to support the ideas of young people, to form a base of innovative ideas, as well as to develop and improve innovative products and high technologies. The Business Incubation operates 24 hours a day, 7 days a week. A laboratory has also been set up in the Innovation Agency to support the development of initial prototypes.[6] The Agency provides trainings in engineering and programming, data analytics and accounting. The Innovation Agency promotes participation of authors of startup projects in the country at international investment startup events, exhibitions, conferences and festivals, as well as organizes travel grants to hold meetings with foreign investors.[7]

Board of Directors

Under the order of the President of the Republic of Azerbaijan from 5 Auqust, 2019, Tural Kerimli had been appointed as a chairman of Innovation Agency.[8]

See also

References
  1. https://president.az/articles/30601
  2. https://azertag.az/en/xeber/Innovation_Agency_of_Azerbaijan_to_implement_venture_financing-1323063
  3. https://www.azernews.az/nation/140500.html
  4. https://mincom.gov.az/en/view/news/432/president-signs-decree-on-establishment-of-innovation-agency-under-ministry-of-transport-communications-and-high-technologies
  5. https://barama.az/
  6. https://apa.az/en/infrastructure/Azerbaijan-opens-Innovations-House-at-Silicon-Valley-313290
  7. https://en.irna.ir/news/83581272/Iranian-companies-to-join-Innovation-Agency-of-Azerbaijan
  8. http://ictnews.az/read.php?lang=2&content=62321
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