New financial mechanisms are being considered for startup funding. In an interview with the "Report" resource, Inara Valiyeva, the head of the Agency for Digital Development and Innovation at the Ministry of Digital Development and Transport, discussed the sector's future goals and planned actions.

Caucasus Ventures has provided financial support to startups worth more than $1 million (approximately $1.3 million) to date. Looking at global experience, it's expected that a fund would typically support 5-6 startups annually. Caucasus Ventures invests approximately $50,000 to $100,000. While investing in startups at the initial stage is possible with lower amounts, it becomes more challenging. Mechanisms for receiving investments exceeding $100,000 are also being considered, targeting the identification and attraction of foreign funds to the country.

Inara Valiyeva notes that ensuring the continuous development of the ICT sector requires at least 6% of the population to work in this field. In Azerbaijan, however, this indicator is currently below 1%. The Agency for Digital Development and Innovation continues intensive efforts to increase the potential of ICT professionals. Scholarships have been allocated to individuals, with 671 recipients in 2021, 782 in 2022, and 4,006 in 2023, with a target of 5,000 for 2024. For more detailed information about the interview, you can refer to Inara Valiyeva's interview with "Report."