Azerbaijan will increase the number of new startups to 250 by 2029

Azerbaijan has approved a new Digital Economy Development Strategy for 2026–2029, which envisions large-scale strengthening and expansion of the country’s startup ecosystem. The document aims to accelerate digital transformation, modernize infrastructure, boost entrepreneurial activity, and enhance the competitiveness of the economy. The strategy also emphasizes the development of innovations, digital competencies, and the widespread adoption of technologies across various sectors.

According to the plan, 250 new startups are expected to emerge in the country by 2029. Growth will occur in stages: 30 startups in 2026, 80 in 2027, and 155 in 2028. These targets are outlined in the strategy signed by President Ilham Aliyev.

Industry representatives note that expanding the startup sector will be a key element of Azerbaijan’s digital transformation and economic diversification, while also strengthening the country’s positioning as a significant technological hub in the region.

Source: TechAz