Winners of grant competition of State Fund for Development of Information Technologies determined

Thanks to the support provided by the Azerbaijani government to increase the competitiveness of the ICT sector and facilitate access to international markets, the ecosystem of the country’s start-ups has developed in recent years and projects capable of entering  the global market are already being formed.

The State Fund for the Development of Information Technologies under the Ministry of Transport, Communications and High Technologies  of the Republic of Azerbaijan has allocated another grant for start-up projects.

Thus, the winners of the next grant competition announced by the Fund on April 10, 2017 were determined. At the next meeting of the Fund’s Supervisory Board, a final decision was made on the projects that received favourable reviews at the stage of the comprehensive expert examination.

It should be noted that 172 projects were submitted for the fifth competition. 150 out of them, having successfully passed the stage of preliminary examination, were admitted to the stage of comprehensive expert examination. At this stage 71 projects received favourable reviews.

Based on the results of the voting of the Supervisory Board members, it was decided to finance 21 start-up projects.

The total amount of grants allocated for the implementation of these projects made up AZN 242,000.

Thus, the winners of grant competition and amounts of grants allocated are as below:

Note that the implementation of all 62 projects that have won in the first three competitions and 18 out of 29 projects that have won in the fourth competition is completed. Work is underway on the remaining projects.