The number of SME entities reached 110 that received the "Startup" certificate, which provides tax benefits for innovative activities.
The Small and Medium Business Development Agency (SMB) awarded the "Startup" certificate to 5 more SMEs. So, the number of SMEs that have received the "Startup" certificate has reached 110.
"Startup" certificates were awarded for online platform by "Kipias" LLC that facilitates repair and design work, digital business network platform by natural person Ramin Akbarov, for software by "Baku Carsharing Company" LLC for car rental, parking software by "Pargour" LLC and for projects of online services for specialists by "Yeni Zeon" LLC.
The "Startup" certificate exempts SME entities from profit and income tax on their income from innovation activities for a period of 3 years from the date of receipt of the certificate. Micro and small business entities whose projects are in the development stage can apply to KOBIA for a "Startup" certificate. The application form, other necessary documents, as well as detailed information about the relevant criteria can be found on the KOBIA website www.smb.gov.az.
It should be noted that KOBIA received 77 applications in January-September 2023 from micro and small entrepreneurs for the issuance of the "Startup" certificate. According to the "Criteria for determining a startup" approved by the Cabinet of Ministers' Decision dated January 29, 2021, certificates were issued to 24 SMEs, 23 of which are micro and 1 are small entrepreneurs, based on the opinion of the Council of Experts. Projects that have received the "Startup" certificate include mobile applications and online services that include innovative solutions in fintech, education, healthcare, tourism, business digitalization, e-commerce.
