Access to international innovation networks for Azerbaijani startups could be supported, Deputy Economy Minister Samad Bashirli said.
Report informs that he spoke at the opening of Spain's IE University Leadership and Innovation Centre at ADA University. The centre was established with support from Azerbaijan's ministries of Economy and Science and Education, with SOCAR as a strategic partner.
"This is not our first collaboration in human capital development. SOCAR and PASHA Holding have previously partnered with the Ministry of Economy and the Ministry of Science and Education on initiatives to develop skills and human capital. The Azerbaijan Skills Accelerator, implemented jointly with Coursera, and the 4SI Academy are successful examples of this cooperation, with their active involvement.
"The SABAH.city innovation campus also stands out for its approach of bringing together universities, research laboratories, technology companies, startups and other ecosystem participants. These initiatives demonstrate that developing talent requires cooperation between government, business, educational institutions and international partners, as well as a well-structured ecosystem," he said.
Bashirli said the Artificial Intelligence Hub (AI Hub) could make an important contribution to Azerbaijan's economic transformation in three areas: leadership, knowledge and new business ventures.
"The first is developing strong leadership to manage change, improve decision-making and increase productivity through technology adoption. The second is applying evidence-based research and international experience, which play an important role in developing sound economic policy.
"The third is connecting Azerbaijani startups and entrepreneurs with international innovation networks, investors and expertise. This could help turn promising ideas into sustainable businesses, open access to new markets and attract investment.
"Azerbaijan backs its commitment to innovation with concrete incentives. Startups, their investors and technology residents, including those operating outside technology parks, will be able to benefit from a broad package of tax breaks lasting up to 20 years, alongside incentives for research and development, venture investment and attracting international talent," he said.