India, 8th October 2024: The Innovation and Digital Development Agency (IDDA), dedicated to driving digital transformation and strengthening Azerbaijan’s IT ecosystem, is actively encouraging startups and tech companies from India and other countries to relocate to Azerbaijan. By promoting a dynamic exchange of ideas and technologies with top innovators, IDDA seeks to boost the nation’s digital capabilities and unlock greater potential.

Recently, IDDA held the opening ceremony of the Azerbaijan Innovation Center (AIM). This landmark event was attended by high-profile representatives from the country’s government institutions, key players in the local business ecosystem, and representatives of partnering tech companies.

The Azerbaijan Innovation Center will serve as the hub for the nation’s technology entrepreneurs, startups, and innovators. Additionally, the facility will focus on attracting more international partners and companies, expanding support programs for startups, and ensuring their integration into global markets. AIM will thus play a critical role in fostering an ecosystem where technology and innovation significantly contribute to economic development.

In his keynote speech, Deputy Minister of Digital Development and Transport, Samir Mammadov, emphasised the crucial role innovation spaces like AIM play in countries with rapidly developing startup ecosystems. “The Azerbaijan Innovation Center is not just an office space, but an essential ecosystem for our country’s rapidly advancing business community. Here, startups will be able to participate in incubation and acceleration programs, meet with investors, create partnerships, and present their projects,” said Mammadov. He also highlighted that AIM offers affordable rent prices as well as other advantages for local and foreign companies wishing to operate in Azerbaijan.

IDDA Chairperson, Inara Valiyeva, further stressed the vital role that startups play in driving innovation at pace and scale, stating that AIM will greatly benefit the country’s development. She added, “In the future, AIM will expand its activities, occupying multiple locations in Baku and extending to Sumgait and Ganja. This will give our innovative business leaders in these regions the opportunity to turn their creative ideas into profitable businesses.”

At the event, Agahuseyn Ahmadov, Head of Investments & Ecosystem Support at IDDA, and Elvin Hajiyev, Head of the Azerbaijan Innovation Center, provided detailed insights about the center. Other speakers, including Dominique Piotet, IDDA’s Expert in Technopark Development, Farrukh Aliyev, Executive Director of “PASHA Future Lab”, and Mammad Karim, Head of “Caucasus Ventures” fund, shared their views on the importance of centres like AIM for the country.