PESI spearheads digital technology for innovative finance

PESI has launched a new project that promotes crowdfunding to streamline access to finance in Azerbaijan's startup ecosystem.

"Support for the development of startup ecosystem by enhancing the effectiveness of innovation policy in Azerbaijan" Project aims at promoting the practice of crowdfunding as innovative funding platform.

The Project will look into the legislative framework governing entrepreneurship and innovation activity, examine the impact of existing innovation policies and support mechanisms for startups, analyze international experience about the potential of crowdfunding platforms for improving access to financing for startups and easing their connection with investors. The research will be followed with recommendations geared towards addressing the challenges and tapping the opportunities of introducing crowdfunding as alternative source of funding to foster tech-based innovation and stimulate start-up ecosystem in the country.

The Project will present and discuss the research findings and recommendations with relevant stakeholders from the start-up and innovation ecosystem. The recommendation package will be then revised and presented to the Office of the President and relevant government agencies.

Funded by the Council on State Support to Non-Governmental Organizations, the Project is scheduled to wrap up December 2020.

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