Startup projects create new opportunities for young people, Education Minister

By Azernews

By Amina Nazarli

Realization of startup projects in universities creates new opportunities for young people and for universities themselves.

Education Minister Mikayil Jabbarov made the remark speaking at the second Festival of Startup and Innovations at the Azerbaijan State University of Oil and Industry.

The minister noted that startup projects implemented in universities open the way for young people with creative thinking and entrepreneurial spirit.

“On the other hand, it allows universities to demonstrate their business potential. We regard these projects as investments aimed at the future of Azerbaijan. Together with the universities we are at the beginning of this path, and together with them we must act from a single national platform,” he said.

Minister of Transport, Communications and High Technologies Ramin Guluzade, in turn, noted that so far more than 300 persons attracted to startup-projects have applied to the High-Tech Park, and 29 of them are currently active in the Park.

The minister said that one of the important directions in this area is the support of ideas based on modern scientific achievements.

“To date, the ICT Foundation has organized four grant competitions on innovative areas, 100 of more than 600 projects have been financed. The formation of the ICT system is based on incubation centers,” he said.

Recently, the Startup Portal of Azerbaijan was created with the support of the State Fund for the Development of Information Technologies of the Ministry of Transport, Communications and High Technologies.

The main goal of the portal Startup.Az, is to support the sustainable development of the startup ecosystem in Azerbaijan, to continue its activities in the Parter status of state and private organizations engaged in this field.

The portal plans to become a "bridge" between start-ups and investors, through analyzing existing trends in the global and local markets, and provide various support.