In a significant step towards fostering collaboration in the field of Information and Communication Technology (ICT), the Small and Medium Business Development Agency (KOBIA) of Azerbaijan signed a Memorandum of Intent with Turkey's Information Valley. The memorandum aims to facilitate cooperation between local companies and startups in Azerbaijan and the Information Valley's branches in Turkey and Baku.

The signing ceremony took place on July 10 at the "Baku SME House" and was attended by key officials, including the Chairman of the Board of Directors of KOBIA, Orkhan Mammadov, and the General Director of Information Valley, Ahmet Serdar Ibrahimcioglu. Through this memorandum, micro, small, and medium-sized businesses, as well as startups in Azerbaijan, gain access to the abundant opportunities offered by the Information Valley branches in Turkey and "Information Valley Baku" operating at the Azerbaijan Technical University.

The document outlines several key areas of cooperation. Firstly, local enterprises and startups in the ICT sector can now utilize the resources and facilities available at "Information Valley Baku." This includes participating in various programs, events, and training sessions organized by the Information Valley of Turkey, providing invaluable exposure and developmental support. Moreover, the memorandum fosters joint entrepreneurship initiatives between "Information Valley Baku" and its Turkish counterpart. This collaboration will promote the exchange of experiences, the organization of conferences, training programs, and other events, all of which aim to bolster the entrepreneurial ecosystem in both countries.

As part of the agreement, the participating companies will have the opportunity to obtain the coveted "Startup" certificate and receive grant support. Additionally, they will be supported in participating in exhibitions with the backing of KOBIA, opening up avenues for increased visibility and networking opportunities. On the occasion of the signing ceremony, a meeting was held between Orkhan Mammadov and Ahmet Serdar Ibrahimcioglu, along with the esteemed presence of Vilayat Valiyev, the Rector of Azerbaijan Technical University. The meeting provided a platform to discuss the document's implementation and explore further prospects for collaboration. Further strengthening the ties, representatives from the Information Valley of Turkey familiarized themselves with the state-of-the-art facilities available at the "Baku SME House" Startup Center. This visit showcased the excellent opportunities and resources that the Information Valley Baku branch has to offer for startups and businesses.

The Memorandum of Intent marks a significant milestone in promoting ICT collaboration between Azerbaijan and Turkey. By leveraging the resources of both Information Valleys, this partnership will undoubtedly foster growth, innovation, and cross-border exchange of knowledge in the vibrant field of ICT.