BAKU, Azerbaijan, Nov. 26
By Sadraddin Aghjayev – Trend:
A memorandum of cooperation and an agreement on the development of startups in Azerbaijan was signed between the State Agency for Public Service and Social Innovations under the President of Azerbaijan (ASAN Service) and the US Venture Fund and ‘500 Startups’ startup accelerator, Trend reports citing ASAN Service.
According to the agency, the signing of the memorandum is aimed at implementing programs for the formation of venture financing. The main goal of the agreement is to accelerate the development of startups and the innovation ecosystem in our country, to enable local startups to gain access to the global market and foreign investors.
The agreement was signed by Jeyhun Salmanov, ASAN Service Deputy Chairman, and Christina Tsai, 500 Startups CEO and Founding Partner.
The parties discussed the development of a relevant platform in Azerbaijan, as well as measures, are taken by the country in the international arena.
Salmanov spoke about the successful work of ASAN Service branches, progress in the areas of e-government, implemented projects to develop the innovation ecosystem in Azerbaijan.
Tsai, in turn, expressed satisfaction with the creation of new opportunities for cooperation and the signing of an agreement in this direction.
It is planned to hold meetings with Azerbaijanis living abroad, members of the ‘Tech Diaspora’, created by the initiative of INNOLAND, as well as with a number of international companies.
The signed memorandum will provide local startups with an opportunity to enter international markets.
500 Startups is one of the world's leading organizations that have implemented projects in more than 75 countries. The main activities of the company are building an innovation ecosystem, implementing acceleration programs, and investing in startups. Founded in the US in 2010, 500 Startups has already invested in over 2,500 startups.
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