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Israeli Majors Visit Azerbaijan at IDDA's Initiative

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A team representing leading Israeli companies FinCom.Co, Raycom, CySource, and Sensorz paid a visit to Azerbaijan at the initiative of the Innovation and Digital Development Agency.


As part of the visit, it held a meeting with IDDA management, also attended by representatives of AnD Ventures, a venture capital fund. Participating in the meeting were IDDA Acting Chair, Inara Valiyeva, Advisor to Chair, Shahin Aliyev, Managing Director for International Business Development & Growth, Loukas Tzitzis, and Chief Innovation Officer, Igor Ovcharenko.


The guests were updated on the advantages offered by the Technopark residency law and the right choice made by Azerbaijan in benefiting from the Eurasian market's ICT potential. It was pointed out that, supported by the Agency, companies wishing to obtain residency rights and set up a branch or representative office in Azerbaijan are enabled to do so. IDDA management team also responded to the Israeli team's questions about the personnel potential in Azerbaijan and the available opportunities in the local and Eurasian ecosystem.


The Israeli delegation expressed their satisfaction with both the update on the general ICT environment in Azerbaijan and the positive business meeting. As part of their visit, the delegation also met Ambassador Extraordinary and Plenipotentiary of Israel to Azerbaijan, George Dick. Besides, cooperation possibilities were considered during a meeting Israeli companies held with the Innovation Department representatives of PASHA Holding.


Among issues under discussion were joint efforts towards the development of an innovation and technology-based ecosystem and knowledge sharing. The Israeli delegation also visited Azercell headquarters and discussed potential cooperation with the latter's team. The exchange covered a wide range of topics, from the improvement of network infrastructure through to the development of innovative services and applications.


Later on, a presentation of Sumgayit Technologies Park's products and services was held for the guests, with detail provided on STP's capacities and accomplishments in specialized sectors. Israeli companies' visit to Azerbaijan was dedicated to the technopark residency, which provides tax and other benefits to global and local ICT companies.