The "Memorandum of Understanding on Cooperation for the Development of Innovation and Startup Ecosystem in the Republic of Azerbaijan" was signed within the framework of the InMerge Innovation Summit, between the Fourth Industrial Revolution Analysis and Coordination Center, Innovation and Digital Development Agency, Education Development Fund, SOCAR and Pasha Holding.
"Memorandum of Understanding on cooperation for the development of innovation and startup ecosystem in the Republic of Azerbaijan" was signed within the framework of the InMerge Innovation Summit held in Baku between the Fourth Industrial Revolution Analysis and Coordination Center (4SIM) under the Ministry of Economy, the Education Development Fund under the Ministry of Science and Education, the Innovation and Digital Development Agency under the Ministry of Digital Development and Transport, SOCAR and Pasha Holding.
Minister of Science and Education Emin Amrullayev, Minister of Digital Development and Transport Rashad Nabiyev, First Deputy Minister of Economy Elnur Aliyev, President of SOCAR Rovshan Najaf and Chief Executive Officer of "PASHA Holding" Jalal Gasimov participated at the signing ceremony organized by the Center for Analysis and Coordination of the Fourth Industrial Revolution (4SIM).
As per the document, the parties will cooperate in the field of holding events for the development of the innovation and startup ecosystem, implementation of projects, organization of incubation programs for the development of startups in the initial idea stage. In addition, it was agreed to hold the "Baku Investment Day" ("Baku ID") event to promote "Entrepreneurship" training, innovation and startup ecosystem for students intending to gain a deeper understanding of the fundamentals of business and the implementation of startups' access to the global market and acceleration programs, working in a corporate environment in educational institutions.
The Memorandum of Understanding was signed by 4SIM Executive Director Fariz Jafarov, Education Development Fund Chairman Elnur Nasibov, Innovation and Digital Development Agency Chairman Inare Valiyeva, SOCAR Vice President Kanan Najafov and PASHA Holding Innovation Department Head Farrukh Aliyev.
