In recent years, Azerbaijan has been paying special attention to the development of its startup and innovation ecosystem, viewing this sector as a key area for economic diversification, enhancing competitiveness, and fostering a new generation of entrepreneurs.

According to AZERTAC, Minister of Economy Mikayil Jabbarov made this statement during his speech at the II Meeting of Ministers of Industry, Science, Technology, and Innovation of the Organization of Turkic States (OTS), held in Baku.

“In order to promote joint activities of Turkic-speaking states in the startup sector, implement innovative ideas, and expand access to intra-regional markets, we propose creating a new form of cooperation — the Turkic States Startup and Innovation Cooperation Platform. The Platform will coordinate collaboration in innovation, startups, and the digital economy among member states and serve as a unified mechanism for exchanging knowledge, experience, and technological resources. This initiative will accelerate innovation development in the region and create new opportunities for young entrepreneurs to realize their potential,” the Minister emphasized.

Mikayil Jabbarov also noted that the proposal to establish a Turkic Patent Organization (TPO) was put forward by the Working Group on Industry, Science, Technology, and Innovation of the OTS. “Since intellectual property is the foundation of innovation, science, and industrial development, strengthening mutual cooperation in this area is of strategic importance. At the same time, the initiative to create the Turkic States Metrology Organization (TÜRKMET), proposed during the X OTS Summit held in November 2023 in Astana, is significant for industrial and technological development. The establishment of TÜRKMET is important for deepening regional economic integration and enhancing the research and innovation potential of the region.”