Azerbaijan set to launch first innovation centers next month

Azerbaijan is set to launch its first innovation centers in Baku and Sumgayit in October 2024, said Inara Valiyeva, the Chairperson of the Innovation and Digital Development Agency in Azerbaijan during the Chain Reaction 2024 forum's panel discussion themed "Innovations as a Culture," Report informs.

According to Valiyeva, plans are underway to establish additional innovation centers in Ganja by the end of the year and several more in Baku next year.

"We are creating the center in Baku, while collaborating with partners for the centers in Ganja and Sumgayit. We provide them with both financial and content support in this endeavor," she stated.

The chairperson also pointed out that the primary objective of these innovation centers is to stimulate entrepreneurial thinking and the creation of startups, particularly in the technical field, by consolidating scholarship, education, and incubation programs.

Valiyeva emphasized the crucial role of innovation centers in shaping an innovation culture, which ultimately creates a fertile environment for the formation of new ideas.

Highlighting the strong demand from large companies for such ideas, Valiyeva noted that startups will gain opportunities to sell their products. She further added that public-private partnerships will help ensure the sustainability of initiatives, with the business sector playing a key role in their long-term development.