The Azerbaijani Ministry for Communication and Information Technologies is forming a State Fund for Development of Information Technologies to boost the IT business sector, APA reports.
Iltimas Mamedov, Deputy Minister for Communication and Information Technologies, said that the project is to support use of new innovative projects, improve the investment atmosphere, form conditions for realization of joint projects. Such fund will invite high-skilled specialists. It will also become a basis for management of intellectual business.
Mamedov noted that the state fund will be based on venture financing, with invitation of foreign capital.
