(MENAFN- AzerNews)
Ulviyya Shahin Read more
Azerbaijani start-up "Dr. Agro" was bought by the Dutch company, Azernews reports, citing the Small and MediumBusiness Development Agency (SMBDA).
The founder of the online education platform "Metatesk" startup,Gunay Imanzade, has been listed in Forbes' "30 under 30" list. TheAzerbaijani youth-founded education platform "Unibroad" has beenshowcased alongside products from companies such as "Microsoft,""Meta," and "Samsung" as one of the world's best education startupsin the city of London. The "Recepta" startup, a platform fordigitizing paper checks, represented our country at the AnnualInvestment Meeting (AIM Congress) held in Abu Dhabi from May 7-9,showcasing its project among the favorite projects of the judgingpanel.
The noted successes of Azerbaijani startups have been achievedin just the past few months. The main common denominator amongthese startups is the support provided by the state for thedevelopment of their projects. Four of these projects have beenawarded the "Startup" certificate provided by SMBDA within theframework of state support. This document exempts projects fromprofit tax or income tax for a period of 3 years based on therevenue generated from innovation activities. This enables startupsto reinvest their earnings into further developing their projects document also gives priority to the project in attractingcapital from local and foreign investors, facilitating easierintegration into the respective ecosystem. Additionally, the"Dr" project, along with the "Startup" certificate, alsoreceived financial support in the amount of 16,000 manats as thewinner of the 4th grant competition organized by SMBDA.
It should be noted that in the months of January to April of thecurrent year, SMBDA has issued 22 certificates to micro and smallentrepreneurs, and so far, 145 "Startup" certificates have beenissued. Within the framework of 4 grant competitions organized bySMBDA, more than 1 million manats have been allocated to supportthe financing of 58 projects, including startup projects.
These mentioned startups, having developed their projects withstate support and successfully entered the global market, are justa few of Azerbaijan's startups. With the support of the state, ourstartups, which are currently developing their projects andsuccessfully transforming them into profitable businesses, arepoised for even greater achievements in the future.
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