The projects that have received tax incentives involve innovative solutions in agriculture, agribusiness, fintech, the “green economy,” and e-commerce sectors.
In 2024, the Small and Medium Business Development Agency (SMBDA) received a total of 109 applications for the “Startup” certificate, including 104 from micro and 5 from small business entities. The applications were reviewed by the Expert Council based on the “Startup Identification Criteria,” and 65 SMB entities were awarded the “Startup” certificate. Among the recipients, 52 were legal entities and 13 were individuals, with 62 classified as micro-entrepreneurs and 3 as small businesses.
The projects awarded the “Startup” certificate encompass innovative solutions in agriculture, agribusiness, fintech, the “green economy,” and e-commerce sectors.
It should be noted that the “Startup” certificate exempts SME entities from profit or income tax on revenues derived from innovative activities for a period of three years from the date of issuance. To support the development of innovative entrepreneurship in Azerbaijan, foster startup ideas, and enhance the startup ecosystem, the Cabinet of Ministers approved the "Criteria for Defining a Startup" on January 29, 2021. Based on this decision, the issuance of “Startup” certificates has been carried out by the Small and Medium Business Development Agency (SMBDA) since May 2021. Micro and small business entities can apply to SMBDA to obtain a “Startup” certificate.
