Azerbaijani startups presented their projects at the Global Entrepreneurship Conference held in Riyadh, Saudi Arabia, and attended by hundreds of startups from around the world, Report informs, citing the Small and Medium Business Development Agency (SMBDA) under the Economy Ministry of Azerbaijan.
At the conference organized by the General Directorate of Small and Medium Enterprises of Saudi Arabia (Monshaat) and the Global Entrepreneurship Network (GEN), with the support of SMBDA, Azerbaijani startups were represented by online education and online platforms that bring together suppliers and consumers.
As part of the Global Entrepreneurship Conference held on March 27-30, Azerbaijani startups presented their projects to foreign investors and held a number of meetings.
One of the activities of SMBDA is to support the development of the startup ecosystem. The agency issues a Startup certificate to micro and small businesses, exempting them from income taxes on their revenue from innovation activities for 3 years. Unibroad LLC and Supply Chain Community LLC, representing Azerbaijan in Riyadh, were also awarded Startup certificates. SMBDA also provides grants to support local startup projects, helps them enter global markets, and implements various measures to present their projects to local and foreign investors.