Meeting on “Special Regulatory Regime” for Fintech Startups Held

A meeting on the “Special Regulatory Regime,” which is of significant importance for the fintech ecosystem, was successfully held with the joint organization of the Central Bank of the Republic of Azerbaijan and the INNOLAND Incubation and Acceleration Center.

During the presentation, detailed information was provided on the purpose of the special regulatory regime, evaluation criteria for applications, and the pilot process, followed by extensive discussions in this direction. The session was both informative and practically useful for startups operating in the fintech sector.

Speakers:
• Sahib Hasanov– Head of Department, Central Bank of the Republic of Azerbaijan
• Vagif Guliyev– Senior Specialist, Central Bank of the Republic of Azerbaijan

The meeting included extensive discussions on existing opportunities for the fintech ecosystem, regulatory requirements, innovation regulation, and future cooperation prospects. A Q&A session was also organized for participants, during which current issues in the field were explained in detail.

A meeting was held between the "Innovations Center" and Georgia's Innovation and Technology Agency

On April 7, a meeting took place between the "Innovations Center" of the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan and the Innovation and Technology Agency operating under the Ministry of Economy and Sustainable Development of the Republic of Georgia. During the meeting, Vusal Rustamov, Director of the "Innovations Center," provided detailed information regarding the center's core activities, the innovation ecosystem, startup support, as well as ongoing innovation-oriented initiatives and achievements.

Within the framework of the meeting, the parties familiarized themselves with each Other's fields of activity and discussed opportunities for cooperation in the field of social innovations. At the same time, the potential for implementing joint projects and strengthening collaboration within international programs was reviewed.

The guests also visited and learned about the activities of the ASAN Service center, "INNOLAND" Incubation and Acceleration Center, the "ABAD" public legal entity, and the "Bilim Baku" (Bilim Azerbaijan) center.

January 8, 2019, the presentation of the Acceleration of Startups in Agricultural Technologies program, which will be implemented by the INNOLAND Incubation and Acceleration Center of the State Agency for Citizen Services and Social Innovations under the President of Azerbaijan, with the support of the Ministry of Agriculture of Azerbaijan.

The event was addressed by the Advisor to the Minister of Agriculture of Azerbaijan on innovations Shabnam Mamedova, who noted in her speech that the use of innovations in the agricultural sector had already begun. Among the activities, the Acceleration program will be implemented during the first this year. The program applications has already been announced, which will last until January 20.

At the same time, Sh. Mamedova stressed that support is also provided for start-ups whose technologies and innovations can be applied in other areas.

The event discussed prospects for cooperation between the parties. It was also proposed to conduct incentive and stimulating activities for owners of ideas in the field of agriculture.

Note that INNOLAND is an incubation, acceleration and research center created for the development of the private sector in Azerbaijan, as well as outside, to encourage innovation and expand the startup movement. INNOLAND consists of a coworking center, incubation, acceleration, and the IT Training and Education Center.