The main targets of innovations are reflected in the development concept “Azerbaijan 2020: A Look into the Future”, approved by President of the Republic of Azerbaijan Ilham Aliyev. The High Technologies Park was established under the Ministry of Transport, Communications and High Technologies in order to ensure the expansion of innovative and high-tech industries based on modern scientific and technological achievements. Another High Technologies Park was also established in Mingachevir. Tax and customs privileges are applied in these parks.
In order to stimulate innovation activity, a Business Incubation Center has been established in the High-Tech Park of the Ministry, where over 30 startup projects work. The High Technologies Research Center under the Ministry of Transport, Communications and High Technologies is working on obtaining various types of new high-tech materials in the field of high technologies, as well as work on priority areas in the field of nanotechnology continues.
To support innovative entrepreneurship, the State Fund for Development of Information Technologies operates under the Ministry. Preferential loans are given to successful commercialised projects and in order to finance more successful projects, the Fund acts as a co-investor. To that end, 117 projects, winners of 6 grant competitions have already been financed.
Several projects were presented in 2019:
- “Knowledge Economy – Azerbaijan’s Innovation Roadmap”
- “Developing an Innovative Knowledge-Based Economy in Azerbaijan - Evaluation and Document Proposals”
- “Effective Investment Conditions for Provision of support for the high-technology sector of Azerbaijan and investment rules for special institutions: building the future of Azerbaijan by investing in high technology sector and ICT”
- “Formation of the future of Azerbaijan: development of National Concepts and innovative structures for development of the digital economy – an Action Plan for the investment of heavy-tech enterprises."
It should be noted that the road maps of innovations were prepared by experts of the United Nations Development Programme.