Azerbaijan simplifies startup regulations

The deputy minister of communications and high technologies in Azerbaijan announces simplified rules for startups and talks about future bills to support venture capital funding.

Azerbaijan has revealed that procedures relating to startups and entrepreneurship in the country have been simplified, according to Azernews.

Additionally, the country is preparing legislature to address the regulations around the formation of venture capital funding to deal with issues such as lack of access to funding and bureaucracy.

The simplified regulations are of particular use to the State Fund that provides assistance to startups working in the IT sector.

Elmir Valizadeh, deputy minister of communications and high technologies, made the announcement and said the government is working on a range of bills: “Initiatives taken by the ministry are currently under consideration in other governmental institutions.”

Seymur Agayev, chief executive of High Tech Park Azerbaijan, which supports technology development in the country, said: “Formation of venture capital funds may become a connective link between local and foreign projects and trigger further development in this sphere.”

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. News round up 9 October 2017

    October 09, 2017

  2. Editorial: France chases $12bn fund vision

    September 25, 2017

  3. Big deal: October kicks off with fundraising galore

    October 09, 2017

  4. Deal net: 25 – 29 September 2017

    September 29, 2017

  5. News round up 25 September 2017

    September 25, 2017