Baku: Azerbaijan and Kazakhstan have taken a significant step towards enhancing their cooperation in the field of innovation and entrepreneurship. The Innovation and Digital Development Agency (IDDA) of Azerbaijan has entered into a Memorandum of Understanding with Kazakhstan’s Astana Hub International Technopark, as reported by IDDA to APA-Economics.
According to Azeri-Press news agency, the memorandum is designed to strengthen bilateral collaboration in developing innovation, entrepreneurship, and startup ecosystems. This partnership aims to expand regional innovation ties and deepen the exchange of knowledge between the two nations. The agreement outlines a framework for IDDA and Astana Hub to work closely in fostering the growth and support of their respective startup ecosystems, with a focus on enhancing access to markets and venture financing opportunities.
The document further outlines the potential development and implementation of joint incubation and acceleration programs, which would involve Azerbaijani and Kazakh startups. The collaboration also aims to provide mentoring, training, and access to resources for startups, innovators, and ecosystem members, thereby supporting their growth and development within both countries.