Startups act as engine of economic growth, transformation, Azerbaijani deputy minister says

Startups not only create innovations but also act as an engine of economic growth and transformation, Deputy Minister of Economy Azer Bayramov said at the event of the "Startup School 4: Five Continents – 500 Startups" innovation program, organized by the Enterprise Azerbaijan portal, Report informs.

According to him, startups contribute to the creation of new enterprises, the development of competitive goods and services, as well as the formation of added value through innovative approaches.

"Azerbaijan pays special attention to creating favorable conditions for the development of startups by improving the investment climate and forming a competitive ecosystem," the deputy minister noted.

Azer Bayramov also pointed out that tomorrow's opening of the STEAM innovation campus clearly demonstrates the country's focus on technological development.

"This campus unites science, education, and entrepreneurship in one space, creating a new innovative environment for young talents and startups. Today, we are witnessing profound transformations in various fields. Advanced technologies, such as artificial intelligence, cloud technologies, and data analytics, are fundamentally changing the business environment and value creation processes," he said.