KOBIA allocates nearly $1.5M in grants to 130 startups in Azerbaijan

To date, the Small and Medium Business Development Agency (KOBIA) of Azerbaijan has provided 2.5 million manats ($1.47 million) in grants to 130 startups through a special support mechanism, Zaur Gardashov, Advisor to the Chairman of the KOBIA Board, stated during the official presentation ceremony of the MyLift platform, Report informs.

Gardashov noted that this event reflects the progress of small startup projects:

"In the next decade, our startup ecosystem will develop even further. The fact that these projects are exempt from taxes for up to three years also shows the great interest in this field. Supporting startups is our mission."