SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

27 June – International Day of Micro-, Small and Medium-sized Enterprises: SMEs Changing the World A reception of entrepreneurs will be held in Balakan Businessmen of the Nigde (Niğde) Region of Türkiye Visited the Baku SME House Investment Portal: A Support Tool Bringing Together Entrepreneurs and Investors on One Platform Azerbaijan Pavilion Featured at IsDB’s 14th Private Sector Forum Exhibition Winners of the Startup Competition Held Within the Framework of the Islamic Development Bank Group Annual Meetings Announced Support for Expanding Sales Opportunities of SMEs The “7th Local Companies Promotion Exhibition” is being held HELF and AZHAB Forums Held in Baku During the 51st Annual Meetings of the Islamic Development Bank Group Startup Competition Launched Within the Framework of the IsDB Annual Meetings

Entrepreneurs’ Questions Regarding the 7th Grant Competition Addressed 06.05.25

The application period for the 7th grant competition will remain open until May 14.

An informational event was held regarding the 7th grant competition announced for the financing of educational, scientific, research, and support-oriented projects of SMEs. Organized by the Small and Medium Business Development Agency (KOBIA), the online event provided detailed information to business entities about the competition and addressed their inquiries. During the session, which was attended by over 100 SME representatives, KOBIA staff delivered presentations on the competition’s terms and the project evaluation process. It was noted that, in accordance with the rules approved by the Cabinet of Ministers’ resolution dated September 30, 2020, legal and natural persons classified as micro, small, or medium-sized business entities are eligible to participate. Project proposals within the areas of education, science, research, and support aimed at the development of SMEs may be submitted. Each applicant is permitted to submit only one project. The submitted projects will be assessed by an Expert Commission composed of representatives from relevant institutions and independent experts. The maximum funding allocated for each project is 20,000 AZN. In evaluating projects, the key criteria will include the project's impact on SME development, its level of innovation, the clarity and justification of the core idea, applicability for practical purposes, the availability of appropriate material and technical resources for implementation, and other similar factors.

It should be noted that applications for the 7th grant competition will be accepted until 18:00 on May 14, 2025. Applications may be submitted either electronically via info@smb.gov.az or in hard copy by direct submission to the Agency.