According to the rules, the decision on capital investment in ICT sphere or in the authorized capital of newly-created commercial entities are made on the basis of analysis of business plans reflecting commercial effectiveness of legal entities’ activities, who are proposed a share, as well as practice of other participants in entrepreneurship and consideration of their achievements. The Fund should not have preferred share in the invested authorized capital of legal entity and when the period for investment of commercial organization in the authorized capital determined by the Supervision Council of the Fund expires, the Fun sells the share at market prices and terminates participation in a commercial organization.
The funds of the State Fund must be directed to applied scientific research and experimental-design work, creating of innovative projects, the creation of new technical testing facilities, equipment development and production of a new model, the creation of new technologies, software development tools, data collection, processing, analysis and establishment of new services in the field of delivery of information, application of research to manufacture and their commercialization.
The State Fund for IT Development realizes grant financing of startup projects, too. The grants on the projects are allocated for up to 36 months.
The sum of grant financing can not exceed AZN 300,000.
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