By  Trend

A comprehensive examination of IT projects submitted to the fifth stage of the grant competition, held by the Azerbaijani State Fund for Development of Information Technologies, is nearing completion, a source in Azerbaijan’s IT market told Trend.

The results of the comprehensive examination will be disclosed next week, said the source.

Project evaluation is conducted in two stages – primary and comprehensive examination. Initially, the number of projects participating in the grant competition was 172, 150 of which passed the primary examination.

The final decision on funding will be made by members of the State Fund’s Supervisory Board.

The maximum grant amount to support IT projects is 300,000 manats (for 36 months).

Small grants will amount to 10,000-100,000 manats, medium grants will range from 100,000 to 200,000 manats and large grants will amount to 200,000-300,000 manats.

(1.7010 AZN = 1 USD on July 26)