Farid Osmanov: Azerbaijan to open innovation centers in Ganja, Nakhchivan

Innovation centers are set to open soon in Ganja and Nakhchivan, Azerbaijan, according to Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, Report informs.

Speaking at the closing event of the Innostart project held in Baku, Osmanov noted that these centers will provide regional innovators with a platform to engage with experts, investors, and other ecosystem stakeholders, helping them refine their ideas and receive guidance for further development.

“Last year, following the launch of the innovation center in Baku, a new facility was opened in Sumgayit,” he said. “Spanning 750 square meters, the center includes office spaces, meeting and presentation rooms, a prototyping lab, conference halls, and event venues. It currently hosts startup incubation programs, supports youth-led projects, and organizes trainings, seminars, hackathons, ideathons, and other activities focused on innovation and personal growth. The center also collaborates with educational institutions, tech companies, and other players in the innovation ecosystem.”

Osmanov emphasized the global significance of startups in driving innovation:

“Global experience shows that startups are a major force behind innovation. They attract a substantial share of global venture capital. For instance, in 2024, total venture investments in the United States reached $209 billion, with $190 billion directed specifically toward startups.”