A memorandum of understanding was signed between the Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan and Baku State University (BSU).
Greeting the guests and participants, BSU Rector Elchin Babayev emphasized that Azerbaijan is the strongest state in the region in economic, political and military terms. He spoke about the government support to the Small and Medium Business, especially during the pandemic period.
Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (SMBDA) shared information about the Agency and its activities, as well as innovation processes.
The memorandum provides for expanding relationships between private sector and academic institutions; organization of joint programs, projects and joint research work; implementation of innovative initiatives as well as cooperation in statistics and analysis.
As part of the integration of the two structures, it is planned to create a "Business Incubation Center" at BSU.