EghtesadOnline: The Iranian government and state funds are backing local tech firms and startups to participate in Bakutel 2019.
The 25th Azerbaijan International Telecommunications, Innovations and High Technologies Exhibition will be held in the Azeri capital Baku from Dec. 3 to 6.
Iran Information Technology Organization, Iran National Innovation Fund and Vice Presidential Office for Science and Technology will provide local tech firms and startups with financial support to participate in the exhibition, ITO’s website reported.
To make use of the financial aid package, startups need to have an application to their credit, which has been downloaded over 10,000 times. The app also need to have a user interface in the Azeri language, according to Financial Tribune.
Bakutel is a business exhibition and networking platform that provides startups with a chance to promote their latest services and achievements and forge new ties with foreign players.
Iran’s ICT Minister Mohammad Javad Azari Jahromi has visited the exhibition every year since being appointed to the post in August 2017.
On the sidelines of Bakutel 2018, Iran, Russia, Azerbaijan and Turkey signed an agreement, based on which the four sides are to establish startup centers with a joint investment of $2 million to expand technological collaboration.
The four countries later agreed to establish a joint tech market. These agreements are expected to be reviewed on the sidelines of Bakutel 2019.