Azerbaijani agency launches initiatives for cooperation with OTS

The Small and Medium Business Development Agency (SMBDA/KOBIA) under the Ministry of Economy has launched initiatives to foster cooperation with business entities in the member countries of the Organization of Turkic States (OTS).

Azernews reports that this was announced by SMBDA Chairman Orkhan Mammadov during the General Assembly of the Union of Turkish Chambers of Commerce and Industry, held in Baku.

"We offer support for the innovative development of entrepreneurship, including the scientific study and research of inventions, utility models, technological innovations, and industrial examples that impact business processes," Mammadov stated.

He also highlighted that SMBDA can assist in expanding access to financial resources for startups and entrepreneurs.

Mammadov emphasized the potential for mutual exchange of successful incentive mechanisms and best practices in SME development, promotion of innovative entrepreneurship, higher education for startups, scientific and research institutions, as well as industrial parks, technological business incubators, and technology transfer centers.