SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

Three More SMEs Awarded “Startup” Certificates Public discussion is organized due to green transport business Opportunities for entrepreneurial activities in regions : SME Friends, SME Development Agencies The Promotional Exhibition of Local Companies is Commencing Meeting was held with Entreprenuers engaed in import and export 8th Plenary Session of the CICA Business Council and the 10th Business Forum Held in Baku Attention to SMEs Wishing to Showcase Their Products and Services at the “2nd Turkic Trade Fair”! Young Entrepreneurs from Azerbaijan and Turkiye Discuss Prospects for Cooperation With Government Support, Nearly 10 Entrepreneurs Participate in “Caspian Agro” and “InterFood Azerbaijan” Exhibitions Another Training Held for Entrepreneurs Engaged in Export Activities

Structure of the Council of Experts on issuing the "Startup" certificate renewed 21.07.23

At the first meeting of the Startup Council of Experts under the new structure, it was reported that some 100 "Startup" certificates have been issued to micro and small business entities over the past two years.

The structure of the Council of Experts, which evaluates the projects submitted for the issuance of the "Startup" certificate, has been updated. The Expert Council includes the State Tax Service, the Center for Analysis and Coordination of the Fourth Industrial Revolution (4SIM), the State Agency for Public Service and Social Innovation under the President of the Republic of Azerbaijan, Innovation and Digital Development Agency, Intellectual Property Agency, Azerbaijan National Academy of Sciences, National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, "Internet Development Forum in Azerbaijan" Public Union, "Azerbaijan Innovation Export Consortium" Public Union. The Council will be chaired by Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (KOBİA). The Council of Experts will evaluate the projects included in KOBİA and decide to issue the "Startup" certificate for the next 2 years.

At the first meeting of the updated structure of the Council, Orkhan Mammadov, Chairman of the Board of KOBİA stated that 22 meetings were held under the previous structure of the Council, some 300 projects were reviewed, and about 100 "Startup" certificates were given to micro and small business entities. This support mechanism, together with the Agency's grant support measures, is reported to play an important role in the development of the startup ecosystem in Azerbaijan. Startups have been actively participating in local and international KOBİA events, especially in the recent years, and consequently have become beneficiaries of various support and services of the Agency. We have set up a common working space for startups to develop their projects in the Startup Development Center operating in "Baku SMB House". The "Startup" certificate primarily provides tax relief, however, experience has shown that this document has a greater impact.

Subsequently, the applications received by the Agency for the "Startup" certificate were reviewed.

It is worth underlining that business entities are required to apply to KOBİA in order to obtain the "Startup" certificate. Applications that meet the "Startup identification criteria" approved by the decision of the Cabinet of Ministers dated January 29, 2021 will be examined by the Council of Experts and a subsequent decision will be made to issue a "Startup" certificate. The "Startup" certificate exempts SMB entities from profit and income tax on their income from innovation activities for a period of 3 years from the date of the certificate.