SMBDA: 2.5 million manats in grants allocated to 130 startups
The Small and Medium Business Development Agency (SMBDA) has allocated a total of 2.5 million manats in grants to 130 startups to date through a dedicated support mechanism.
According to Startup.az, this was stated by Zaur Gardashov, Advisor to the Chairman of the Agency’s Management Board, during the official presentation ceremony of the “MyLift” platform.
He noted that the event is an indicator of the development of small startup projects, adding:
“Over the next decade, our startup ecosystem will continue to grow. The fact that these projects are exempt from taxes for up to three years also demonstrates the strong level of interest in this field. Supporting startups is our mission.”