Azerbaijan predicts sharp increase in number of active startups

Chairperson of the Innovation and Digital Development Agency under the Azerbaijani Ministry of Digital Development and Transport Inara Valiyeva has said that the number of active startups in Azerbaijan reached 100, but this figure is planned to be increased to 450 by late 2024.

Valiyeva made these remarks at a meeting dedicated to the startup ecosystem, Report informs.

She noted that up to 5,000 beneficiaries benefited from the activity of the organisation she heads in 2022-2023.

“Currently there are 63 residents in our technology park. Only a few of them are foreign residents. We plan to create two innovation clusters and seven innovation centres in the country. One of our most successful events is the Technest programme. The number of graduates of this programme has exceeded 4,000 people, but we intend to increase this figure to 19,000,” Valiyeva added.