Absheron Valley innovation cluster to be established

In the next five years, the Absheron Valley innovation cluster will be created in Azerbaijan, Report informs, citing the Strategy for Socio-Economic Development of Azerbaijan for 2022-2026 approved by President Ilham Aliyev today.

According to the strategy, the innovation plan will be formulated in the country and will be promoted by the state: "Innovations will be applied in the priority areas of the economy. As a result, the number of individuals and legal entities operating within the Absheron Valley will increase yearly."

As planned, it will attract $5 million of funding from 100 start-ups, $7 million from 150 start-ups, and $13 million from 300 start-ups operating in the Absheron Valley.