Acceptance of ICT projects for next grant competition comes to an end

The acceptance of projects for the next grant competition, which was announced by the State Fund for Development of Information Technologies (SFDIT) under the Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan, has come to an end. A total of 149 projects were registered for the competition on the official website of the Fund (ictfund.gov.az).

It should be noted that within the grant competitions the evaluation of projects is carried out in two stages. At the first stage, primary evaluation of the projects submitted for the competition is carried out within 15 working days. At the second stage, the projects that have passed the initial selection process will undergo a comprehensive examination by independent experts within 20 working days. As a result, the projects that successfully passed the second stage are submitted to the Supervisory Council of the State Fund for final decision.

Note that the acceptance of projects for the grant competition was carried out from March 1, 2018 to April 30, 2018.

Up to now, 754 innovative and applied scientific and technical projects have been submitted for 5 grant competitions held earlier. Grants have been provided for 112 of them. The grants provided by the Fund play an important role in building up their own startup business.

20 out of the completed projects have been commercialized and continued their activities, took their place in the market.

The main goal of the State Fund for Development of Information Technologies is to support the implementation of the state policy in the field of ICT, to encourage innovative entrepreneurial activities, to stimulate intellectual business, innovation and research activities, to facilitate the development of a modern infrastructure, to provide financial assistance to small and medium-size enterprises, as well as to attract domestic and foreign investments to this area.