Today Azerbaijani Deputy Minister of Communications and Information Technologies Elmir Valizade told media that the Azerbaijani information and communication technologies development fund will start working in the near future.
“ICT Development Fund has been established. Operations are underway to create its charter.” said Valizade.
According to the source Azerbaijan is carrying out a project of establishing a fund to support ICT which will help domestic companies to get both monetary and fiscal benefits.
A law establishing funds on the balance sheet of the Ministry of Communications and Information Technologies of the State Fund for Development of Information Technology was signed by President of Azerbaijan Ilham Aliyev on March 15.
The state budget will finance it, which will also provide direct financial support to promising start-ups in science and technology.
Its primary aim is to regulate public policy development and support of small enterprises in the scientific and technical fields providing them with direct financial assistance, training and new jobs.
