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Friday, 07 May 2021 07:04 GMT

Azerbaijan establishes Commercialization Technology Transfer Center


(MENAFN - Trend News Agency) BAKU, Azerbaijan, Apr. 23

Trend:

The Azerbaijani Cabinet of Ministers adopted a decision to establish the Center for Commercialization and Transfer of Technologies under the Intellectual Property Agency in Azerbaijan, Trend reports.

According to the decree, the center is a legal entity of public law, engaged in the establishment of relations of communication, mutual orders and proposals between science and industry, technology transfer for the qualitative growth of inventive activity, its adoption of an applied nature, and the commercialization of the results of intellectual activity.

'The center is the support of innovative development, including start-up projects aimed at transferring research results for commercial and non-commercial purposes, as well as generating income from these results, participating in providing clients with services for the supply of technologies and projects to target markets, coordinating activities in this area,' added the decree.

The distribution of powers of the founders of the center is carried out in accordance with part 3 of Azerbaijani President Ilham Aliyev's decree on the establishment of the Center for Commercialization and Technology Transfer under the Intellectual Property Agency dated April 6, 2021 No 1308.

The Intellectual Property Agency shall resolve the issues arising from this decision.

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