Local startups to visit Silicon Valley on regular basis

The High-Tech Park of the Ministry of Transport, Communications and High Technologies (MTCHT) has signed a Memorandum of Cooperation with the United States - Azerbaijan Chamber of Commerce (USACC).

According to the Memorandum, a roadmap for long-term and strategic cooperation between the two agencies will be drawn up.

USACC will support the attraction of investments to startup projects implemented at the High Tech Park; establishment and strengthening of cooperation with US venture funds; and the introduction of software, technological solutions, and services of local ICT companies operating in Azerbaijan to the US market.

Within the framework of the business visit of the Azerbaijani delegation led by Director of the High-Technology Park Tural Kerimli to the United States, meetings were held with heads of Google, Lenovo, Nutanix, US Technology and Investment Center, and the US Investment Company.

During the meeting with Vice President of Lenovo, Roderick Lappin, a preliminary agreement was reached to create a "R & D" lab at the High-Technology Park; and to create an opportunity for startups operating in Azerbaijan to use the incubation program and the "Lenovo Venture Program".

During the meeting with Head of the leading American company Nutanix, President of the company, Sudheesh Nair, proposed to choose the High-Technology Park and one of Azerbaijan’s higher education institutions as partners and to involve them in the Educational and Scientific Exchange Program; to establish an academy; and to organize regular trips of local startups to the Silicon Valley.

During the meeting with Director of the Small and Medium-Sized Entrepreneurship Financing Program of the US Overseas Private Investment Corporation (OPIC), Tara Blake, she expressed interest in investment and financing projects implemented in the sphere of high technologies in Azerbaijan.

At the meeting, an agreement was reached to hold, jointly with OPIC, an informative session on investment opportunities for local companies. The session will be held this year at the High-Tech Park.

During the meeting with Investment Director of the Center for Innovative Technology, Marco Rubin, the sides discussed the implementation of joint projects with the High-Tech Park and the provision of consulting services on attraction of investors to local startups.