12:33 - 2.02.2026

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February 2, Fineko/abc.az. In Azerbaijan, there are significant difficulties in providing startups with access to financial resources.

ABC.AZ informs that Farid Osmanov, the chairman of board at the Agency for Innovations & Digital Development (IRIA), stated this at a press conference following organization's activities last year.

He added that incentive mechanisms should be stronger, especially in increasing access to financial resources for startups at an early stage: "Three venture funds were formed, in which the agency participates directly and indirectly. Both through foundations and through international venture funds, the startups were allocated initial financing. But we are not satisfied with the amount of these funds, and we are working in this direction. We cooperate with international venture funds, supporting their activities to enter our country, and we are also working to form more startups, promote new ideas and increase the attractiveness of the startups they create."

According to Osmanov, the main problem here more relates to legislation:

"The main issue is the formation of legislation. We think that in a short period of time this year we’ll be able to take successful steps to adopt legislation in the relevant area, and after that these figures will grow quite rapidly."