Local startups to be presented in Budapest

By Azernews

By Leman Mammadova

ITU Telecom World is the venue for the largest participants in the ICT sector. The event, organized by the International Telecommunication Union (ITU) as the UN specialized agency for ICT, brings together an audience of senior representatives from the public and private sectors of various countries.

Last year, Durban city of South Africa hosted the ITU Telecom World 2018 congress and exhibition. About 3,100 participants from 94 countries attended the event.

Azerbaijan Innovation Agency will take part in the ITU Telecom World 2019 international exhibition and forum to be held in Budapest, Hungary, on September 9-12.

Azerbaijan will be represented at the international event with four startups, including Virtual Transactions, Kuleko, Wexplain and Vriendly, with the support of the Innovation Agency.

The national pavilion of Azerbaijan will be created at the ITU Telecom World 2019 international exhibition and forum, and the four startups will be presented there.

In addition, Virtual Transactions, Kuleko, Wexplain and Vriendly startups will participate in the Global SME (small and medium-sized enterprise) Award, which will be held as part of the event.

Serious steps are being taken for the further improvement of the innovation ecosystem in Azerbaijan and the development of startups.

As startups are mainly related to the development and application of new technologies, Azerbaijani Ministry of Communications and High Technologies is taking important measures to support startups in the country.

The Innovation Agency was established to create a dynamic innovation system in the country that serves to transform ideas into products to get access to the market. Within this process, the main goal is to create conditions for the production and export of innovative and technological products under the “Made in Azerbaijan” brand.

Recently, a joint consortium has been established with the participation of the Innovation Agency under the Ministry of Transport, Communications and High Technologies, AzInTelecom LLC and companies Lenovo, Nutanix, and iQRex to ensure the participation of startups in tenders held by various government agencies and individual companies, as well as in important projects and to support them in this field.

The consortium will provide local startuppers with an opportunity to get access to various financial sources, to take part in important projects, including large and medium-sized tenders.

A strategy for innovative development will be developed in the country. Boston Counsulting company has already been involved in this direction as an expert.