Work Underway To Set Up Venture Capital Fund In Azerbaijan - IRIA Chairperson
Date
12/1/2023 6:10:56 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 1. Work is currently
underway in Azerbaijan to create a venture capital fund, Chairwoman
of the Board of the Innovation and Digital Development Agency
(IRIA) of Azerbaijan's Ministry of Digital Development and
Transportation Inara Valiyeva said, Trend reports.
She spoke at the InMerge Innovation Summit taking place in
Baku.
"We are working on venture capital, cooperating with the
Azerbaijani government to establish a venture capital fund. Our
country's ecosystem is quite new. IRIA is supporting this effort by
conducting incubation programs in five Azerbaijani universities.
Over the course of the year, the incubator produced over 45 firms,
with the most promising joining the accelerator program. More than
$30,000 was invested in five firms through the accelerator
program," Valiyeva said.
The InMerge Innovation Summit has started in Baku on November 30
and will end on December 1.
InMerge, the region's largest innovation summit, is aimed at
bringing together prominent organizations, entrepreneurs, and
investors to debate the topic of innovation and potential
alliances.
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