Baku: The final day of the presentation of an innovation program implemented in Azerbaijan’s regions is taking place in Baku. The event is attended by Chairman of the Board of the Innovation and Digital Development Agency (IDIA) Farid Osmanov, Deputy Minister of Digital Development and Transport Samir Mammadov, and First Deputy Chairman of the Small and Medium Business Development Agency Samir Humbatov.
According to Trend News Agency, the program included educational activities, hackathons, and incubation projects, providing support to 35 new innovative initiatives in the regions. The event will also feature the presentation of the program’s final results and the awarding of a prize fund of 50,000 manat ($29,411).
Deputy Minister Samir Mammadov highlighted at the event that over the past 4 years, the number of households with access to stable broadband, high-speed internet increased 13-fold, reaching nearly 3 million, ensuring full national coverage. He noted that the spread of high-speed internet has technically expanded the capabilities of technology parks. In January-August 2025, residency status was granted to 26 legal entities, including 2 foreign companies. Furthermore, since amendments to the ‘Model Charter on Technology Parks’ in 2023, a total of 144 legal entities, including 8 foreign ones, have obtained residency outside technology parks.
Mammadov also mentioned that significant steps have been taken in recent years to build the innovation ecosystem. With IDDA’s support over the past 3 years, various incubation and acceleration programs, hackathons, and ideathons have been held, supporting more than 600 startups. Over 275 of them advanced their ideas to the minimum viable product stage. The process involved regions, universities, and both local and international partners, enabling startups to cover diverse fields such as e-commerce, health tech, edtech, agritech, fintech, green technologies, the internet of things, big data, and the gaming industry. Venture capital mechanisms have also progressed, with more than $15 million of capital raised through various funds, of which over $2.2 million has already been invested in regional startups.
IDDA Chairman Farid Osmanov announced plans to open new innovation centers in Ganja and Nakhchivan to bring together young innovators. He emphasized that these hubs will allow regional innovators to present their ideas to experts, investors, and ecosystem stakeholders for further development. Osmanov expressed confidence that every Innostart program participant, startup, and mentor will contribute to the growth of the innovation economy across the regions, with IDDA ready to support the sustainable development of new initiatives.