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Azerbaijan Develops Special System for Assessment of Start-Up Projects’ Attractiveness

The State Fund for Development of Information Technologies under the Azerbaijani Ministry of Communications and Information Technologies has developed a points system for evaluating the attractiveness of investing into start-up projects, Azerbaijani Communications and Information Technologies Ministry's report said.

The report said that the minimum acceptable score is 60. The distribution of scores will be carried out depending on the conformity of projects to state policy in the IT field and fund's priorities (30 points), correspondence with the minimum requirements for preparation of investment projects (15 points), an innovative component of the project with a view to transforming it into an export-oriented production of ready products or services (20 points).

The project's economic efficiency indicator will also be evaluated in 20 points, and the entrepreneurs' business running history will provide 15 points.

The ministry said, in the near future, a regular meeting of Fund's Supervisory Board will be held. The meeting will address the evaluation criteria of investment projects submitted by entrepreneurs for further allocation of loans for their implementation at the expenses of Fund's resources.

The Board members will also consider offers from banks and non-bank credit organizations willing to act as authorized credit organizations for the distribution of fund financial resources, as well as the requirements for the preparation of investment projects by entrepreneurs to obtain soft loans.

Source: Trend

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