For the first time in Azerbaijan, the Innovation Agency has opened a representative office of the International Venture Fund, which finances startups and innovative projects, the Ministry of Transport, Communications, and High Technologies told Report.
Ambassador Extraordinary and Plenipotentiary of Turkey to Azerbaijan Erkan Ozoral, Member of the Bogazici Ventures Foundation and Head of the Azerbaijani Representation Turan Almammedov, attended the opening ceremony.
At the event, Chairman of the Board of the Innovation Agency Tural Karimli informed about the work to be done and plans to develop innovation and high technology in Azerbaijan. Simultaneously, the sides discussed the prospects of local startups' comprehensive cooperation with the Bogazici Ventures Fund.
All startups assigned to categories A and B with Innovation Agency' classification can apply to the $ 5 million investment fund allocated by the Bogazici Ventures Fund for it in Azerbaijan. The investment decision will be made under Bogazici Ventures' internal valuation policy within international standards.